Healthcare nonprofits have a unique set of challenges – not only are you fulfilling your mission, many of you have granted-funded programs and/or provide services for a fee.
As a healthcare professional, your main goal is ensuring the health and well-being of your clients. Many healthcare organizations offer programs and services as a means of protecting the welfare of their communities, but sometimes it can seem like you’re spending more time juggling administrative accounting tasks than providing a high level of care.
Tracking funding and billing can be especially complex when layered with regulatory laws that require timely and accurate reporting. Add in grants, designated to fund certain programs, and your work becomes even more complex.
If you work at a healthcare organization that provides programs and services, true fund accounting™ software is critical to your success. A segmented account structure means you track every penny by program, grant, and even recipient. Then, you can customize your reporting to everyone from government agencies and the board of directors, to program managers and clients.
Nonprofit program and service accounting can be complex. Learn how a true fund accounting™ solution can help you streamline your accounting system in “Managing the Challenges of Nonprofit Programs and Services”, a nonprofit resource paper. Plus, you’ll learn how MIP Fund Accounting ® can assist you in alleviating these issues for your organization.
- The challenges of managing programs and services
- Understanding fee-for-service billing, grant-funded programs, and managing growth
- What true fund accounting software does to combat the problems inherent with programs and services funding
If you would like to see first hand how MIP Fund Accounting helps healthcare nonprofits manage their programs and services accounting, contact us to schedule a free demonstration.