Insights and Highlights from the NRHA Conference
We attended the National Rural Health Association (NRHA) conference in 2016. Working with hospitals in the past year, we've discovered a demand for affordable accounting software that interfaces smoothly with Electronic Health Records (EHR) systems. Our goal for attending was to identify more ways that our financials modules could help CFOs track and drive hospital financial performance.
The importance of selecting software that best fits a specific hospital's needs was highlighted in several NRHA sessions. "Implementation of any software system is painful," said one CFO. We would argue that implementation doesn't have to be painful (more on that later). Unfortunately, when it comes to Electronic Health Records (EHR) systems, implementation has not only been painful, it's been expensive.
During our more 30 years in the software business, we've seen how financials software can help organizations improve productivity and save money.
Robust Functionality
EHR systems come in different shapes and sizes. Some vendors have acquired various companies over the years, bundled their software together, and created medical records packages. Others have developed the EHR software then recommended third-party accounting software to handle the heavy lifting of financial management. Periodically, hospital leaders review their existing systems to determine whether they are still a good fit.
While one-size fits all systems work for some hospitals, others want a more robust approach. The CFOs we’ve talked to prefer a standalone financial information system that can interface smoothly with EHR software. They say using a separate, but integrated, system to handle all hospital accounting, payroll and HR, and procurement allows more efficient management of financial operations. It also gives them the flexibility to scale their software as needs change.
Customized Reporting
The ability to generate accurate financial reports is crucial to making decisions that keep your hospital running smoothly. When the financials system includes a built-in report writer, users can customize reports on the fly, assemble them into packages, and distribute them electronically. And, because individual data can be secured, report recipients will see only the information that they should see. They can drill down to view transaction details, attachments, or notes to efficiently answer their own questions.
Of course, a comprehensive reporting tool will also be able to generate statistical reports. Statistics can be gathered from the financial applications or input from other hospital systems with a few clicks.
Smooth Interface
The biggest concern a CFO has about a standalone accounting system is its ability to interface with the hospital's EHR system. Even interfaces within bundled software can cause problems and be difficult to maintain. Updates made to the clinical application may impact how data flows through to the G/L, for example. Those types of problems can be avoided when using a separate financials system. Data can be exported from the EHR system, mapped, then automatically imported into the financials system.
The best way to determine whether an interface will work for your hospital is to have an in-depth discussion with the potential vendor’s development team. Another best practice: Provide sample files so the vendor can demonstrate how their software will interface with your system.
Other "good to know" items when considering the benefits of a dedicated accounting system:
Provider-hosted vs Cloud-based
Hospitals are moving from on-premises software to an application service provider model because:
- There is no server or software for the hospital IT staff to maintain or support.
- Cloud software has lower up-front costs and is provided as a monthly subscription. The subscription may be recognized as an operational expense.
- Cloud implementations take less time than on-premise implementations. The vendor hosts the software in a secure environment and configures it to the hospital's specifications. All work can be done remotely.
Implementation, Training, and Support
We believe that providing implementation services for a low, fixed fee lays the foundation for a productive business relationship. Users shouldn't resist asking questions out of fear that it will drive up implementation costs. We don't want any barriers to learning so we take all the time necessary to get you comfortable in our system.
A thorough implementation process should include initial training, standard data conversion, and unlimited implementation support for the first six months. During implementation, you'll work with the same people who will provide support services when you go live in. So, when you call for support they'll be knowledgeable about your organization and able to work with you until your issue is resolved.
