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Healthcare Accounting Software
Multiview Enterprise .NET n10
Multiview Corporation offers healthcare organizations a robust, affordable alternative to overly complex or expensive tier 1 accounting systems. Standard features include G/L, A/R, A/P, work order management, and more.
NetSuite Financials
Because NetSuite is a cloud solution, the system can be accessed from any web browser and NetSuite will host and maintain the data. This allows health care providers to focus more on delivering care to patients rather managing IT.
Microsoft Dynamics GP
Microsoft Dynamics GP offers a vertical application specific to the medical field. It lets medical providers and healthcare facilities more efficiently track and report on practice financial information.
Sage 100 Standard and Advanced ERP (formerly Sage ERP MAS 90 and 200)
You need medical accounting software you can depend on. Sage 100 Standard and Advanced ERP's flexible software delivers this and more, giving you a single solution for managing your practice today, and as you continue growing.
Intacct Financials and Accounting System
Intaact provides Software-as-a-Service (SaaS) or accounting software for many sizes and types of organizations, including hospitals, long-term care facilities, ambulatory core practices and other healthcare organizations.
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Epicor Financial Management
Epicor Financial Management has the scalability to automate and streamline the financial processes of any medical clinic or hospital, regardless of size. This allows medical providers to focus on patients and less on management.
SAP - Accounting
When it comes to running your medical practice, you need accounting software you can rely on. SAP ERP Financials delivers solid accounting and financial management functionality, ideal for the growing practice.
Sage Fixed Assets
Sage Fixed Assets can serve the needs of a broad range of industries--including medical. What we like best about Sage Fixed Assets is that users get the robust functionality they need in an easy-to-learn and intuitive interface.
Acumatica
Acumatica provides several financial management modules to help medical practices keep track off all their accounting needs. This includes general ledger, cash management, accounts receivable, and more.
Oracle JD Edwards
JD Edwards EnterpriseOne is used by small to medium-sized companies and Fortune 500 companies alike. The system can manage medical supply purchasing and includes IDC-9 and CPT coding information to manage medical accounting.
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Ten Steps Guide to Selecting the Right Accounting Software
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How to Assess Accounting Software Vendors' Viability
What is Medical Accounting Software?
Accounting software for the healthcare or social services industries will include a number of features that support the management of day-to-day accounting and business practices. Beyond just accounts payable/receivable and general ledger, they support billing to insurance companies and Medicare/Medicaid. Specific budgeting tools for the financing structure in those industries are typically included, and integrate with electronic medical records software for meaningful use.
Healthcare-Specific Functionality
In addition to core accounting features, look for the following specific features in your healthcare or social services accounting software:
| Medical Materials Management | Manage the purchasing and disbursement of supplies, especially any pharmaceuticals or lab materials with a shelf life. This prevents lost inventory and/or charges. |
| Patient/Insurance/CMS Billing | Between copays, reconciling EOB forms, and the Centers for Medicare & Medicaid Services, the bureaucracy associated with healthcare accounting adds several layers of complexity most industries don’t have to deal with. Healthcare accounting software typically includes ICD-9 and CPT coding information, claim scrubbing, and electronic claims submission. |
| Integration with Electronic Medical Records | Electronic medical records (EMRs) track patient notes, demographics, family medical histories, and medications. They also typically include features like e-prescribing, lab and medical device testing integration, and voice recognition notes software. In the move for all providers to adopt EMR technology, integrating with that data is critical for most buyers. |
| HIPAA compliance | If your accounting software contains any patient data, you’ll need a solution that not only performs the necessary accounting functions, but also complies with HIPAA’s privacy regulations. |
Evaluating Healthcare and Social Services Accounting Software
The most critical factor to consider in selecting your healthcare/social services accounting software is your size and type of organization. A hospital provides a large number of disparate services, whereas a private practice may have only a handful of physicians within a single specialty. Inpatient facilities track patients differently than outpatient facilities. For example, phthalmologists will need to monitor retail sales, while a cardiologist does not. Social services, palliative/hospice care, and rehab all have their own unique needs, too. Therefore, it’s essential to ensure your software solution is designed to handle the accounting functions that meet your facility’s unique needs.
When evaluating healthcare or social services accounting software, buyers should consider the following:
- Do you bill primarily to insurance companies, Medicare/Medicaid, patients, or a combination?
- Will you also need electronic medical records (a.k.a. electronic health records) software, or do you already have software that will need to be compatible with your new accounting system?
- Will you be storing any patient-sensitive information in your accounting software?
- Do the features fit the size and type of facility (for example, hospital vs. private practice; outpatient vs. inpatient; medical vs. social services, etc.)?
- Can the software generate the appropriate reporting documents for auditors?
- Does the software scrub medical claims and reconcile insurance billing with explanation of benefits forms?
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Free Download:
Guide to Understanding and Comparing Accounting Software Price Quotes
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Guide to Evaluating Accounting Software Demonstrations
