Article | Value-Based Payment

Healthcare financial teams need accounting software that delivers clear, measurable results to navigate today’s challenges

Sponsored by Sage Intacct
Article | Value-Based Payment

Healthcare financial teams need accounting software that delivers clear, measurable results to navigate today’s challenges

How do you help healthcare organizations navigate the biggest challenges in healthcare?

Financial teams at healthcare organizations are facing a make-or-break moment as they guide their organizations through the pandemic — and into the new normal. This includes the ability to adapt to new payment models (including value-based care), meeting the latest reporting mandates (like the Patient-Driven Groupings Model or PDGM), complying with evolving HIPAA requirements, bringing new products and services to market, and budgeting and planning in an uncertain healthcare marketplace. Success in navigating these and other challenges will cement the finance team as not only the keeper of the company’s past, but also as trusted steward of the company’s future. This has been the driving force behind Sage Intacct — to provide our customers with the data they need to be successful. We have a team of healthcare experts that have experience working directly with acute, ambulatory and post-acute organizations and are dedicated to ensuring that we have the features, functionality and services to meet our customers’ needs. Whether it’s our Advanced Audit Trail for HIPAA compliance, out-of-the-box healthcare KPIs and dashboards, guidance on the chart of accounts or enriching insight with financial, clinical and operational data, Sage Intacct provides our customers with healthcare accounting software that delivers clear, measurable results.

What advice would you offer to healthcare leaders when choosing among vendors?

Healthcare leaders should utilize organizations such as the HFMA and G2Crowd to get unbiased insights, and work with vendors that have direct experience with organizations like yours. Don’t be afraid to request input from the vendors’ customers, and ask questions on ROI, value, implementation experience, ongoing support and product upgrades. Additionally, ask customers if they like working with the vendor and what guarantees they provide.

What is some advice you can give providers for a successful implementation of a new product or service?

Change can be scary. So you want to keep the things that work and make changes where you can optimize — as this is your opportunity to take advantage of the capabilities of a new vendor. For Sage Intacct customers, that means redefining workflows to take advantage of our true multi-tenant, elastic infrastructure, high configurability, self-service expansion and integrated APIs. We also have a defined implementation methodology to ensure our customers successfully go live and have the ROI to prove our customers’ success. Some practical implementation best practices include defining your vision by creating a strategic roadmap, reviewing your current processes and determining what’s working and can be improved, conducting discovery with your key stakeholders to determine what is important to them, and utilizing workflow approvals, dashboarding and reporting tools to improve efficiencies and streamline processes. 

Quick Facts

  • Number of years on the Short List: 1 year
  • 100% of peer reviewers either Strongly Agree or Agree that using Sage Intacct has resulted in enhanced productivity.

About Sage Intacct

Sage Intacct’s cloud-native financial accounting system has proven to be the go-to platform for some of the industry’s leading healthcare organizations. We deliver a depth of healthcare capabilities you won’t find in a traditional accounting software suite, providing the visibility, flexibility, and efficiency to manage finances, operations, and people. We are the only accounting system endorsed by the American Institute of Certified Public Accountants (AICPA) and Healthcare Financial Management Association (HFMA) Peer Reviewed. Data-driven healthcare CFOs choose Sage Intacct to solve their most complex challenges, focus on strategic initiatives, increase efficiency, and drive growth.

To learn more about HFMA’s Peer Review program, visit hfma.org/peerreview

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