Accurate and timely information is particularly important when it comes to tracking patient billing and generating financial statements within the health services industry. Staying compliant with strict government regulations and offering optimal care to patients is top of mind and although the priorities are clear, many organizations still struggle for a number of reasons:
- Use of a third party system manages patient billing, but disconnects overall accounting insight.
- Manual entry processes increase data errors and leave organizations unable to trust their information.
- Tracking and managing financial statements within Microsoft Excel is tedious and doesn’t create accurate or real-time records.
- Little insight or control over financial security increases risk of audits and non-compliancy.
Connecting the Accounting Dots with Microsoft Dynamics GP
The TM Group has experience with many health services organizations including physicians groups, specialty hospitals, and outpatient elective health services groups. Whatever your unique needs may be, we have the solution for you:
Microsoft Dynamics GP connects what may be disconnected at a health services organization. With advanced General Ledger, Fixed Assets, Accounts Payable, and Accounts Receivable features, organizations can trust the information pulled from GP and ultimately streamline their financial management.
Benefits Our Health Services Clients Realize with Microsoft Dynamics GP:
- Advanced integration with industry specific add-ons.
- Automatic financial reporting that provides relevant and accurate information for company stakeholders.
- Accurate data pulls that help keep doctor/patient relationships strong.
- Easy importing/exporting capabilities within SmartConnect.
- Streamlined financial reporting of consolidated statements within Management Reporter.
- In-depth insight into overall financial situation with the ability to drill down in specific areas.
- Streamlined multi-entity management with intercompany transactions that hit multiple expense accounts.
- Automatic allocation features so that expenses are accurately applied to department or cost category.
- Strong security and auditing capabilities to help meet strict regulatory compliance standards such as HIPPA.