Published on: September 18, 2018
in: Company News
Homecare accounting solutions need to be both reliable and easy to use. After all, you don’t want to spend hours learning how to use your accounting software when you have a home healthcare business to run. Clinical practices, home healthcare companies, and home healthcare products companies need an accurate, reliable accounting solution that doesn’t take days to learn.
We’ve put together several recommendations, below, on what to look for in homecare accounting solutions. When assessed against your own business’ unique needs, you’ll be able to find the best possible home healthcare solution for your needs.
Finding Homecare Accounting Solutions
Accounting solutions range from off-the-shelf, general business accounting programs to specialized accounting software packages for homecare businesses. There’s a lot of gray area between the generic and the completely customized and several drawbacks to some of these software solutions.
- Spreadsheets: At the simplest end of the scale of accounting solutions is a spreadsheet. Spreadsheets offer the advantage of easy access, easy downloading, and cloud-based applications such as Google sheets. However, the disadvantages are many. Spreadsheet formulas can be difficult to learn for novices. They aren’t user-friendly. One error can cascade into multiple errors if it’s picked up in a formula, throwing off an entire spreadsheet and making it very time-consuming to find the source of the error. Reports are difficult to run and may require third-party software.
- General accounting software packages: General software accounting packages such as QuickBooks provide a user-friendly out of the box or cloud-based software for basic accounting needs. QuickBooks is the standard software for small business accounting but there are others on the market. All are set up for general businesses when you download them onto your computer or log in on the cloud. From there, you’ll need to customize many fields to provide the level of tracking and detail that you want and need. There are several pros to using general accounting software: it’s easy to use, inexpensive, and easy to find. The cons or negatives include lack of customization for the homecare industry, lack of report customization and lack of detailed reports.
- Comprehensive accounting systems: Comprehensive accounting systems encompass accounting, financial management, and other data tracking needs and can be customized according to the specific tasks your business needs to tackle. This software lets you manage your entire homecare business from one place. There are sections to manage inventory so that you can manage medical supplies, equipment, and other items homecare workers may need in one place, while at the same time managing things like payroll, mileage tracking for vehicles, and other financial aspects of your business, too.
Home Healthcare Accounting Software: Where to Find a Good Reseller
Companies that sell software for home healthcare accounting are called resellers. Resellers offer individual software, such as accounting or customer management software, or packages like an enterprise resource planning system.
When you’re searching for a reseller, keep in mind a few things:
- Experience: How much experience does the reseller have? Look for experience in the chosen software package as well as experience in homecare or similar industries.
- Process: What process does the reseller use to help you determine which software to buy? Do they have a process to understand your unique business needs or do they sell the same software to all their clients?
- Selection: Some resellers offer only one company’s software. Others offer several. While you may be fine with just one brand like QuickBooks or Sage, if you’re in the early stages of your project, you may want someone who has a wide selection to choose from for your needs.
- Team: Who will work with you on your project? Make sure you feel comfortable with the people you meet at the resellers. Ask who will be your daily point of contact. This will be the person you’ll work with closely and should feel at ease with.
- References: Check references provided by the reseller. Ask more than “Did you like Reseller X?” on your calls. Ask questions about the project itself. Did the company achieve its goals? Were there any delays or stumbling blocks? If so, how did the reseller help the company around or over them?
Finding the right reseller and homecare accounting software is easier than you think. Mindover Software has several locations and has been in business since 2000, working with many satisfied customers nationwide. Once you’ve spoken with them, you’ll be well on your way to finding a software solution that works for your business.
Download our whitepaper and learn how home health providers automate accounting, payroll, financial reporting and comply with Medicaid and Medicare using ERP.
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