How Accounting Software Can Reduce Operating Expenses For Healthcare Organizations

Technology is front and center for healthcare organizations in 2010. Especially prominent is the HITECH Act of 2009 and its substantial impact on finances, human resources, Medicare payments, and the technology requirements to support these areas. Increasing federal regulatory compliance, accompanied by a heavy burden of standards and mandates, can make it seem overwhelming to weigh all issues and needs regarding technology for healthcare organizations.

Every industry experiences periods of transformation around their IT infrastructure and the business automation that introduces new efficiencies. The healthcare industry is now in the midst of its makeover. Substantial investments and change have already been made in medical and patient technology; however, the same level of change has not been duplicated in the business infrastructure of many healthcare organizations.

With so many technology demands to consider around electronic health records and healthcare IT, why should finance executives in the healthcare industry scrutinize their accounting software in 2010?

There are four reasons why healthcare organizations should evaluate and implement better accounting software this year in order to establish seamless, automated business processes that connect front office to back office and give healthcare professionals more time and resources to devote to their mission – excellent care for patients:

1. Data Integration Across Systems Helps Deliver Affordable Healthcare

With integrated systems, technology increases efficiencies, maintains quality of care and is not simply a way to cut costs. A typical healthcare organization is bogged down by paper-based data collection and runs dozens of disconnected systems and a plethora of patient billing and records solutions. Good accounting software is able to integrate with these systems to bring the information into the back office. You also need to automate the flow of financial information across internal systems and health plans with insurance claims, including a range of government organizations.

High quality service must remain constant amidst continuously evolving technology, but finding ways to reduce the costs of quality care is also imperative. Accounting software that integrates with other systems can dramatically improve operational efficiencies, reduce administrative costs, and ultimately free up cash for better, more affordable patient care.

Providing high quality healthcare takes a unified team of doctors, nurses, specialists and clinicians. A healthcare organization’s technology platform should incorporate the same collaborative approach so all systems, including accounting software, work together and enable automated business processes that streamline the way information is created, collected, accessed and shared.

2. Improve Operating Efficiencies

Accounting staff in many healthcare organizations today are overburdened with increasing pressures from internal and external demands. As other areas of a healthcare organization or practice advance due to technology investments, the organization now expects quicker turnaround on requests and more financial information. Externally, many of the requirements from HIPPA, Sarbanes-Oxley, and HHS-GIO present challenges that are initially often overlooked for the finance team. Today, a top accounting system can help a small finance staff more efficiently address payroll/HR requests, automate expense reporting and purchase requisitions management, provide a paperless workflow around payables management, and much more.

Top 8 Careers With Degrees in Healthcare, Technology and Business

Who doesn’t want to be in an ideal career? After all, you spend most time of the day away from home working to make ends meet. Besides, recessionary times have made many wonder what job is the best in terms of security and lasting employ ability. Considering this, it seems like a great idea to go for a profession that not only offers good pay, but also good growth prospects.

Here’s a list of some careers that rank high in each of the above stated categories, promising a good buck and great employment prospects even 10 years down the road. The best part is that an online degree from a top online college can help you get through to one of these professions.

1. Registered Nurse

This profession has gained tremendous popularity lately due to the great demand for people in this field. As the American population ages, more and more nurses will be required to take care of them, which explains the Bureau of Labor Statistics’ job growth projection between 2010 and 2020 of 26 percent for this occupation. And the handsome May 2011 median annual salary of $65,950 is just the cherry on top for aspiring registered nurses. An Associate’s Degree in Nursing, which can also be acquired from one of the top online colleges, is the basic entry-level education into this field.

2. Computer Systems Analyst

Helping an organization maximize on efficiency with the help of computer systems is what these professionals have to do. The job involves considerable interaction with end-users of a system, which can be managers at an organization, software developers and network architects. A median May 2011 salary of $78,770 per year and a 22 percent increase in jobs between 2010 and 2020 are what make it a coveted occupation in the US.Many top online colleges can help you get a Bachelor’s Degree in Computer or Information Science, paving the path towards this career for you.

3. Database Administrators

Office and administrative jobs rank quite high when it comes to job growth prospects and employability, but database administration is a sub-field in this category that is also quite well-paying with a 2010 median annual pay of $73,490. Storing and organizing sensitive and confidential data, to setting up and updating complex databases for companies are some job responsibilities for people in this field. With a whopping 31 percent increase in employment between 2010 and 2020, it is one of those professions that one should strive to get into with the help of a bachelor’s degree in related discipline from either a traditional university or one of the top online colleges.

4. Software Developer

All the mobile phone and computer applications we enjoy these days have been created by these smart, tech-savvy professionals. Developing software, writing its code, and maintaining it are some of their job duties. With a growing demand for anything and everything related to technology, it is not surprising that this occupation has been projected to grow by 30 percent between 2010 and 2020. The icing on the cake is the handsome 2011 median pay of $89,280 per year.

5. Physical Therapists

For anyone who’s suffering from an injury or is in pain because of a medical reason, physical therapists are truly a blessing. After all, these are the people you go to for relieving your pain; they aid in your mobility, and increase strength. Besides making a median 2011 annual pay of $78,270, you will also enjoy greater flexibility for your work and a lower than average stress level. The catch? Some states require continuing education for physical therapists to keep their license. But the good part is that the option of continuing education from one of the top online colleges means they don’t have to necessarily leave their jobs to study.

6. Dental Hygienists

These are the people who coax you into maintaining good oral health. Because people these days are becoming more conscious of the importance of good oral health, the demand for preventative dental services is quite large. And that explains a 2010-2020 projected 38 percent growth for jobs in this field, with a median salary of $69,280 per year.

7. Market Research Analysts

Which products are in demand? What do consumers want and what do they need? How much are people willing to pay for a product? These are some questions that market research analysts help companies to answer. A lot of rigorous data collection followed by careful analysis is what constitutes the most part of their jobs. A median annual salary of $60,250 in May 2011 and an astounding growth of 41 percent in jobs in this field between 2010 and 2020 make this a very promising occupation. A bachelor’s degree is the typical entry-level education for this field, which is offered by many top online colleges these days.

8. Accountants

Dealing with lots and lots of numbers while examining and analyzing financial documents is what these professionals have to repeatedly do. Greater financial regulations have meant that the need for thorough financial documentation has increased, and so has the demand for accountants, who earned a median pay of $62,850 in May 2011. That’s why about 190,700 jobs – a 16 percent growth – are expected to be added between 2010 and 2020 in this occupation.