5 Advantages of Our Healthcare Bookkeeping Solution to Support Your Practice

A healthcare professional reviewing their practice’s bookkeeping.

The healthcare industry is constantly changing thanks to the regular stream of updates to policies and regulations. Trying to keep up with changes can make it difficult to focus on the business side of the practice.

If you are struggling to spend the appropriate amount of time on healthcare bookkeeping, we recommend outsourcing this function to an expert team. Then, you will be better able to focus on patient care, the latest regulations, and growing the practice.

A resource such as the Finlyte accounting team can help reduce stress and get you back more time in the day by providing services tailored to the needs of your practice.

In addition to offering outsourced accounting services, we utilize the best-in-class Oracle NetSuite ERP platform to manage each business aspect of your practice. Generating reports, managing cash flow, and tracking key metrics will become much easier using our solution.

Consider Our Healthcare Bookkeeping Solution

Learn more about the advantages of using our healthcare solution for your practice.

1. Improve Visibility and Transparency

We can help you significantly reduce the amount of time required to manage key business functions in the practice. Using NetSuite, we will provide you with real-time access to business data and customizable dashboards. You’ll be able to quickly view and manage what you need – when you need it.

2. Adapt to the Changing Healthcare Landscape

The healthcare industry is changing right before our eyes. We will allow you to spend more time on your patients while our team configures processes, reporting, and workflows in the background.

3. Streamline Reporting and Compliance

Using the internal controls functionality in NetSuite, we will simplify compliance-related data tracking. You will gain access to accurate real-time reporting with complete audit trails.

4. Improve Partner Engagement and Customer Service

Want to evaluate business performance by month, quarter, or year? Gain access to a 360-degree, real-time view of patient satisfaction. Use relevant information to improve patient services and generate repeat business.

5. Generate Accurate Records

NetSuite makes critical reports available anytime, anywhere in the cloud. Want to make specific reports available to other members of your practice? You can assign reports to select individuals based on their roles.

NetSuite Features Directly Related to Healthcare

The NetSuite ERP platform was built to cover a variety of industries. Specific to healthcare, NetSuite offers valuable features and functionality for healthcare practices such as medical practices, home health, hospice, urgent care, and veterinary clinics.

  • Multi-entity management and consolidation.
  • Healthcare KPIs and reports.
  • Inventory scheduling and management.
  • Custom reporting by physician and clinic.
  • Support for accrual or cash-based accounting.
  • Complete fixed asset tracking for healthcare equipment and tools.
  • Automatic upgrades.

Our team blends industry-leading outsourced healthcare bookkeeping services with NetSuite expertise to set you up for success.

You’ll be able to manage purchases, supplies, and expenses all from one system. With configured reports like average revenue per patient and physician compensation models, you will benefit from end-to-end visibility into the health of your practice.

We can help your healthcare practice continue to grow through our solution. Take a look at this case study that captures how we helped Smile MD regain financial clarity and improve processes during rapid growth.

Ready to Get Started with Our Solution for Healthcare?

Our pre-built and proven healthcare bookkeeping solution utilizes the best ERP software available for the healthcare industry.

  • We will review and help improve accounting processes.
  • We will look for an opportunity to implement the NetSuite platform.
  • We will train your team on the platform.
  • You will gain access to standardized reports and dashboards.
  • You will gain unprecedented visibility into operational and financial metrics.
  • Our dedicated project team will ensure a smooth transition.

Running a healthcare practice is stressful enough; managing the business side shouldn’t add to your stress.

Plus, our simple pricing makes it easy to get started. We offer one simple monthly fee backed by our 6-month guarantee. If you don’t love our services within six months, we will return your fees. We believe in our healthcare solution powered by NetSuite, and we know you will, too.

– Ready to meet the Finlyte team? Contact us today to schedule a consultation. We can also set you up with a demo of NetSuite to see the platform in action. Let’s help you regain control of your practice.