Published on: October 02, 2018
in: Company News
Accounting software for a home health agency is one of several software packages you’ll need to set up and run your business. It’s different from agency software in several ways and provides an effective and useful way to track your business income.
Agency Software or Accounting Software for a Home Health Agency – What’s the Difference?
“I don’t need accounting software for my home health agency. I have QuickBooks and general agency software—that’s enough for my needs right now.”
Does that sound familiar? If you’re glancing over your computer now and wondering what’s the big deal about accounting software for a home health agency, let’s take a look at the differences between an agency software package and an accounting package for home health agencies.
- Agency software: Agency software packages for home healthcare businesses are a useful specialized software to help you manage operations. These packages are useful for tracking many aspects of your business, including care plans for your clients, caregiver credentials, and time tracking for aides and caregivers. Many include voice apps that enable workers to call in and record their time without logging into a system, which is great for home health workers that are on the road a lot. Many include apps that enable family members to view care plans and updates on their loved ones. Some also include payroll apps and billing apps, as well as software to let you keep in touch with clients. This is called CRM software, or customer relationship management software.
- Accounting software: Accounting software for a home health agency tracks the dollars and cents of your agency. It keeps tabs on receivables, or the money that people owe your business. It also tracks payables, the bills you need to pay. Good software packages provide reports that let you track expenses versus income, source of expenses, payroll, and more.
Many home health agencies use QuickBooks as their entry-level home health agency accounting software. QuickBooks works fine for beginning agencies, but you may find that you outgrow it over time. It enables you to track basic expenses and revenue but lacks sophisticated reports. It also limits the customization you can add to it to make it suitable for some of the unique industry billing and accounting needs. This is where specialized home health agency accounting software comes in handy.
Download our whitepaper and learn how home health providers automate accounting, payroll, financial reporting and comply with Medicaid and Medicare using ERP.
Ready to Make the Switch?
If your agency uses QuickBooks but finds it has outgrown this basic business accounting software, now is a great time to make the switch to home health agency-specific accounting software. Mindover Software specializes in helping businesses choose the right software for their needs. We work with home health agencies to upgrade from QuickBooks and transition their accounting records seamlessly into new, specialized software.
Mindover Software helped Bethany Home Healthcare change from their outdated software to new home health agency accounting software. Bethany was able to cut payroll costs by 200%!