The healthcare industry became the largest source of jobs in the nation, according to the United States Department of Labor.

An aging population, among other factors, has driven rocketing growth and a surge of mergers and consolidations in the healthcare industry leaving many organizations struggling to keep up with the flow of data and information.

The difficulties are plenty and the consequences of errors and inefficiencies cannot be exaggerated. These healthcare accounting challenges include:

• Manual processes that lead to mistakes and poor data integrity
• Difficulty integrating multiple data sources
• The need for additional employees just to keep up with all the paperwork

Note: full release notes can be found here.

Curious about Sage Intacct's 2018 R4 release? We’ve summarized the numerous new features as briefly as possible, with links to relevant videos and demos.

As Julie Adams, VP of Product Management at Sage Intacct, reiterated in her video summarizing the new R4 release, “our goal is to be the first and last cloud financial management solution you’ll ever need.” This release helps Sage Intacct continue with its constant improvements; it dramatically expands budgeting functionality, offers assistance for nonprofits dealing with new revenue recognition guidelines, introduces an interactive custom report writer, allows automated periodic allocations for account balances, adds more scalability to Advanced CRM Integration, and much more.

A question we hear often is, "What is the best financial management software packages on the market today to help a healthcare organization"?

This, of course, is a very complex question to answer and most advisers would correctly state you need to understand your specific business goals, requirements and of course budget.  However, The Resource Group has worked with many industries over the years and had exposure to most accounting/financial packages on the market used by healthcare organizations. We find that Sage Intacct is one of the top accounting software solutions out there, if not truly THE best when it comes to the needs of the typical healthcare organization.

Below are the "top 5 reasons" we suggest Sage Intacct for your healthcare organization's financial management software.

Healthcare organizations love to slice and dice data coming from their electronic health/medical record (EHR/EMR) system, payroll software, third-party billing systems, practice management software, and their accounting software.

However, because of having these disparate systems, many do not have the ability to integrate this data into one set of reports, so they resort to the necessary evils of manual data entry, spreadsheets and email.

Fortunately, Sage Intacct offers a compelling healthcare financial management alternative. With the combination of multi-entity financial reporting, a dimensional chart of accounts and simple but visual reporting tools makes healthcare financial reporting far more simple, timely and effective – so your team can focus on making smart choices rather than being mired in manual office labor.