in: Home Health Care, Company News
Many home healthcare agencies begin their businesses with spreadsheets or simple accounting software, but an ERP integrated with home healthcare software system offers so many benefits that the faster you can transition to such a system, the better.
What is the difference between an integrated home healthcare software system and a simple accounting software package? What are the benefits of integrated ERP with home healthcare software and what, if any, are the drawbacks? Here’s a look at five benefits of an integrated home healthcare software system. If you’re considering making the transition to a dedicated system for your industry, now may be a great time to make the leap.
What Is an Integrated Home Healthcare Software System?
Running a home healthcare agency requires many skills. Not only must you be knowledgeable about the health and welfare of your clients, but you must also be a skilled office manager, human resources manager, sales and marketing expert, and of course, accountant.
Now add onto that list of skills additional skills: compliance with privacy laws and healthcare regulations, health and safety, and of course, communications with families, caregivers, healthcare professionals, and more.
That’s a lot to ask of any one person.
A home healthcare software system takes many of the tasks associated with each of those roles and automates them, thus freeing up your time for other tasks such as business development and management. Such systems offer a package with many features built into the software that saves healthcare agencies a great deal of time.
Why Stand-Alone Accounting Software Isn’t Ideal for Agencies
Some agencies make do with accounting software such as QuickBooks to handle their billing, finances, and overall accounting needs. Such programs may suffice when agencies are just starting out, but the more complex the agency, the greater the need for an ERP integrated with specialized software.
QuickBooks isn’t built for the unique billing needs of a home healthcare agency. It can be challenging to set up billing based on hours, patients, and insurance agencies, and to automate systems within QuickBooks to handle the complexities of medical coding and billing.
Another area in which simple, accounting software lacks specialized features is in the area of staff scheduling. Accounting programs can be set up to run payroll and to assist with paying payroll taxes, but home healthcare agencies need to track hourly wages, travel reimbursement, and other specialized payroll accounting.
Lastly, accounting software often lacks tracking systems for inventory across multiple locations. Home health agencies need to keep track of medical supplies and equipment which is often a nightmare because the counts and locations are inaccurate.
Get more information on choosing a great home healthcare agency software system with our free Guide to Choosing Home Health Accounting Software.
Integrated Home Healthcare Software Systems Offer Many Advantages
This is where an ERP integrated with a home healthcare software system offers numerous advantages.
- Easier payroll processing.
Processing payroll for a home healthcare agency includes tracking each worker’s hours, hourly rate, mileage, and other factors that may impact their paychecks. If workers’ hours change each week, this can create a complex environment for tracking payroll. There may also be multiple care givers working with one client, such as an RN who makes weekly visits and an LPN who makes daily visits. Each person’s hours, wages, and travel time must be documented and assigned to the appropriate accounts. It can get complicated!
Most small business accounting programs do not offer the customization options needed for a home healthcare agency. But integrated healthcare accounting software offers numerous options to customize by caregiver, patient, and more.
- Handles complex billing.
Another challenge many home healthcare agencies face is complicated billing needs for their clients. Clients may have multiple insurance companies including Medicare and one or more private insurance policies, each with their own billing and copayments. Accounting software for traditional small business uses isn’t set up for split billing or billing among multiple parties.
Home healthcare accounting software offers the flexibility to bill multiple parties for one invoice, thus ensuring that the appropriate invoices and payments are credited to the correct client account.
- Enables easier record-keeping for compliance needs.
Healthcare regulations require that home healthcare agencies maintain specific records and ensure their communications with providers, patients, and their families meet with HIPAA policies. Accounting software doesn’t include such record-keeping, nor does it offer HIPAA-compliance communications.
Specialized home healthcare accounting software ensures all patient records can be kept safely and confidentially. Many healthcare accounting packages enable secure logins for added protection and HIPAA compliance. In addition, it expedites reporting needed to comply with Medicaid and Medicare. It’s another advantage of using the right tool for the job, or an accounting package built for the home healthcare agency.
- Faster access to patient data.
Another benefit of home healthcare accounting software is faster access to patient data. Most home healthcare agency software is now cloud-based. You’re already familiar with cloud software. Many companies use cloud-based productivity software such as Microsoft 365 or Google Drive, for example. This software enables employees to log in and use the system or access documents from any internet-connected device.
The same holds true for healthcare agency accounting software. Cloud-based ERP systems make it very easy to log in and access patient data from any device or location. This enables caregivers to quickly access a patient’s records, notes from previous caregivers, and provider notes to help them provide the best care they possibly can to the patient. Notes may also be logged in or records kept easily of special supplies used that can be billed, as well as any other situations unique to home healthcare. It’s faster, better, and easier for agencies.
- Better patient and caregiver experience.
Families are under a great deal of stress when their loved one needs home health services. Anything you can do to improve the patient experience can go a long way toward alleviating that stress.
Using integrated software for the home healthcare industry can go a long way toward improving the overall patient and caregiver experience. By using cloud-based software that includes a scheduling component, you can ensure caregivers can be consistently assigned to the same patients, providing them with a sense of stability during an uncertain time in their lives.
Caregivers can also access resources within the software that provide them with a list of tasks, reference notes, and more to make their time with the patient a better experience. When the caregiver arrives already informed of the patient’s needs, they can focus on ensuring the best interaction.
Lastly, caregivers who have positive experiences with your agency are likely to become long-term, loyal employees. Many home healthcare agencies face challenges with staff retention and turnover. When the agency provides them with the best tools for their needs, such as a home health agency software purpose-built for the industry, they spend more time doing the work they enjoy and less time on paperwork and data entry. It’s a win-win for all.
The Best Home Healthcare Accounting Software for Your Company
To find the right home healthcare system, you need a partner who can guide, advise, and help you select the perfect software package. Mindover Software offers consulting, training, and implementation support that will ease your transition into new software. Please contact us today for more information or call 512-990-3994.
Get more information on choosing a great home healthcare agency software system with our free Guide to Choosing Home Health Accounting Software.
