Even for the most seasoned healthcare leaders, cost accounting is just as critical as the healthcare supply chain that underpins it. It’s more than numbers on a screen or calculations in a logbook. That’s because cost accounting has a direct correlation to high-quality patient care.
Being able to explain the fundamentals of hospital accounting is important for a number of reasons. In this article we explore the fundamentals of hospital accounting to help bridge the gap between Finance, Healthcare and Business teams.
Hospitals have one of the most complex accounting structures. In addition to multiple internal entities and closely integrated third-party partners, patient accounting has to deal with different insurance plans, cash payers, and varying payment plans. So what exactly separates patient accounting from hospital accounting?
A multi-entity business might have different brands, divisions, subsidiaries, units, branches, offices, or other types of entities. The parent company acts largely as an overseer. Each individual entity operates with a high degree of independence. This often means having different workflows even for routine business processes like accounting.
As healthcare continues to adapt to technological, environmental, social and governance shifts across the globe, facilities will need to understand how this impacts their day-to-day and how to measure it.
In a fast-paced and growth-oriented company, you need more than basic accounting software. As you strategize about moving your company confidently into the unknown, a cloud enterprise resource planning (ERP) solution can make all the difference. This guide will explore how to future-proof your business.
Your on-premise ERP may have been an excellent option when you committed to it, but your company might be ready for a more flexible solution. Multiview Financial Software gives you industry-best tips to migrate from on-premise ERP to cloud ERP software.
Every business wants a way to manage finances and maintain a healthy bottom line. Sometimes your accounting solution works for you in the beginning but doesn’t scale with you. If you notice these three signs, it’s time to upgrade your accounting software.
While most business professionals have heard of ERP software, many wonder exactly what it means and what these solutions can do for business. Here, we’ll explain what ERP solutions are, how they work and how to decide if you need an ERP, along with their numerous functions and benefits.
ERP implementation can be complex and challenging, so you’ll need to spend time preparing for the process. This guide will walk you through some guidelines for ERP implementation and give you some ERP software implementation best practices to follow for optimal results.