Healthcare Financial Management – What’s in Store?

Changes in healthcare are constant. As a CFO, if you’re feeling a bit exhausted by change, you are not alone. What challenges will healthcare organizations face in the future?

Predictions for the healthcare industry

The following three predictions were published recently by Brian Bogie, Director of Healthcare Industry Marketing at Sage Intacct.

 

  1. Cost control will be paramount, and Activity-Based Cost Accounting will be business critical in a post-COVID world
  2. Healthcare will adopt a Doordash model for delivery of their services: whether these “Hospital at Home” healthcare organizations will succeed depends on how they get paid – and from whom
  3. HIPAA and security breaches will become a greater issue for healthcare organizations

 

Click here to read the entire article.

Familiar, perennial challenges still need to be addressed

The most common struggle for healthcare CFOs that we see is the challenge of consolidations for multi-entity, multi-location organizations. Healthcare CFOs must contend with:

 

 

Download the complimentary white paper ‘Financial Consolidations for Multi-Entity Healthcare Organizations

 

Addressing the challenges of consolidation using a single, cloud-based financial system tool can propel your healthcare organization forward.

More than ever, CFOs find themselves data-rich, but time-poor. A truly integrated cloud-based financial system can automate the consolidation process, reintroducing quality and trust. Senior healthcare executives can view timely information with confidence which enhances finances credibility and opens the door to new opportunities to add value.

 

And that’s where we can help – contact us to investigate how you could accelerate the integration of new entities; improve controls; and enjoy real-time consolidated results from across the enterprise at any time without waiting for period ends.