The healthcare industry faces numerous accounting challenges when it comes to accounting, from regulatory compliance to increased competition and shifting patient demographics.
However, with the right tools and systems, healthcare providers can overcome these challenges and succeed.
The U.S. healthcare industry marked nearly $3 trillion in revenue in 2022, highlighting the significance of streamlined accounting. Healthcare providers often move large sums of money between multiple sources burdened by various compliance and reporting conditions. These providers are also up against increasing competitive pressure in a growing market.
Sage Intacct is known across the healthcare industry for accounting purposes. Sure, with improved financial visibility and streamlined financial processes, healthcare companies get an accounting powerhouse, but Intacct also provides a solution for many other problems in healthcare accounting.
What are 5 Key Benefits of Sage Intacct for Healthcare companies?
Five ways that Sage Intacct can support the growth of healthcare practices include:
- Increased efficiency
- Reduced manual effort
- Advanced real-time data
- Improved decision-making
- Expanded practice growth
But, does Sage Intacct do more for the healthcare industry besides accounting practice efficiency?
It sure does. Yes, Sage Intacct is a cloud-based financial management system that provides a comprehensive solution for healthcare accounting, but did you know Sage’s credentials include:
- HIPAA compliance for Protected Health Information (PHI)
- Cloud access for healthcare companies
- Preferred provider of the AICPA
- Sage Intacct can actually help healthcare companies grow
With its commitment to HIPAA compliance for PHI, healthcare providers can rest assured that their patients’ sensitive information is secure.
Sage Intacct’s cloud-based platform offers the convenience of anytime, anywhere access, making it easier for healthcare companies to manage their finances and stay up-to-date with their accounts.
It’s commitment to healthcare accounting doesn’t stop there. Sage Intacct is the preferred provider of the AICPA, meaning it has been vetted and approved by a trusted organization in the accounting and finance community. This recognition is a testament to Sage Intacct’s commitment to providing high-quality, reliable financial management solutions for the healthcare industry.
But how exactly can Sage Intacct help healthcare companies grow? The answer lies in the system’s numerous features and capabilities.
Here are just a few of the ways that Sage Intacct can support healthcare providers in their quest for success
Streamline financial processes: With its automation capabilities, Sage Intacct can streamline many time-consuming, manual financial processes that healthcare providers typically have to deal with. This includes tasks such as accounts payable, accounts receivable, and payroll, freeing up time and resources for other important tasks.
Provide real-time data: With its real-time financial data, Intacct makes it easier for healthcare providers to manage things like:
- Bad Debt
- Medical Claim Coding Errors
- Late Payments and Queried Accounts
- Unanticipated Asset Depreciation
- Improper Chart of Accounts Setup
How does Sage Intacct Support HIPAA Compliance?
Intacct’s commitment to HIPAA compliance is essential for protecting the sensitive and confidential information of healthcare patients. With its focus on security and privacy, healthcare providers can rest assured that their financial information is safe and secure when using Sage Intacct.
As the preferred provider of the AICPA, Sage is committed to providing high-quality and reliable financial management solutions for the healthcare industry. With its recognition from a trusted organization in the accounting and finance community, healthcare providers can trust that they are making the right choice when it comes to their financial management needs.
Sage Intacct is the best choice for healthcare companies due to its comprehensive solution for healthcare accounting, commitment to HIPAA compliance, and recognition from the AICPA. With its wide range of features and capabilities, healthcare providers can streamline their financial processes, improve their financial management, and confidently grow their practices.
For which type of healthcare companies is Sage Intacct best?
Sage Intacct is suitable for a wide range of healthcare companies, including long-term care facilies, hospitals, clinics, medical practices, and healthcare service providers. Intacct provides a comprehensive solution for healthcare accounting from a cloud-based financial management system, making it a good choice for companies of all sizes and stages of growth.
With its cloud-based platform, healthcare companies can access their financial information from anywhere, at any time, making it easier for them to manage their finances and stay up-to-date with their accounts.
Whether small medical practices or large healthcare service providers, Sage Intacct provides the tools and capabilities that healthcare companies need to grow and succeed.
Is Sage Intacct the Best Choice for Healthcare Companies?
Sage Intacct is the best choice for healthcare companies because it provides a comprehensive solution for all problems in healthcare accounting. Healthcare companies looking for a complete solution for their financial management needs get a wide range of features and capabilities, including real-time financial data, automated financial processes, and cloud-based access.
Experience and ability to adapt to and utilize the new digital implementations in the organization.