Technology is ushering in a powerful wave of disruption across the healthcare industry. From managing massive amounts of data with stringent regulatory requirements to navigating industry consolidation, it’s no wonder that healthcare organizations are turning to cloud-based technology solutions to streamline operations and improve financial performance.
Healthcare financial dashboards give healthcare providers a powerful tool to measure, analyze, and address key performance metrics by offering a comprehensive and holistic view of an organization’s financial situation.
Automated tools that enable flexible, comprehensive reporting can allow healthcare organizations to make better financial decisions using real-time data.
Equipped with the right information, healthcare dashboards can tell a more complete story about an organization’s unique financial circumstances.
The three key sets of KPIs measured by healthcare financial dashboards that help healthcare finance leaders automatically measure the performance of their business are:
- Revenue per bed/revenue per clinician/revenue per treatment, which helps healthcare organizations understand services that are — and are not — profitable.
- Number of patients served/number of encounters/number of clinicians, which helps identify high-performing locations.
- P&L by location/P&L by budget, which can help determine opportunities for growth or partnership.
Automated reporting capabilities can take advantage of this information to produce highly focused analyses, which relevant stakeholders can then be used. Role-based dashboards can be highly customized to ensure that a particular user, such as a healthcare CFO, has proper permission to access important information at-a-glance.
For a complete look at how healthcare companies can take full advantage of healthcare financial dashboards, read our latest whitepaper, “Healthcare Financial Dashboards and KPIs That Matter: How to leverage real-time visibility and insights to make more informed decisions.“
Real-time data capabilities of healthcare financial dashboards also make it possible to plan and strategize based on accurate, up-to-date information about clinics, locations, and other practice areas. Deep and total visibility into a healthcare organization’s financial performance allows decision-makers to adjust forecasts and budgets using forward-thinking information rather than time-consuming historic data.
Sage Intacct, the leading cloud financial management system for data-driven healthcare organizations, makes it possible to access healthcare financial dashboards anytime, anywhere, providing around-the-clock access to healthcare executives at a moment’s notice.
As highly customizable, purpose-built accounting software, Sage Intacct delivers easy access to key KPIs, highly detailed dashboards, and other critical financial information to allow organizations to stay nimble and on budget.
Harnessing real-time financial data is essential for healthcare companies looking to make better decisions, control costs, and streamline operations.
In this informative report, Sage Intacct provides insights on “Healthcare financial dashboards and KPIs that matter”.
Please contact us if you would like more information on how financial dashboards can help your organization.