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Delivering high-quality care may be the number one priority for healthcare providers, but reducing costs is always an imperative. The key to this is finding ways to streamline processes, eliminate inefficiency, increase productivity, and improve decision-making.
Expanding the use of information technology (IT) is a smart way to reduce costs and improve access to patient and organizational information. The powerful, integrated IT infrastructure provided by Microsoft Dynamics makes it easier to share patient information for clinical decisions, and access the financial data required to drive business decisions. This solution enables physicians, nurses, and administrators to work together as a single team.
Microsoft Dynamics GP is a fully integrated financial and business-management solution that can help healthcare organizations transform the way they record, track, and access critical business information. Built to deliver the highest levels of ease-of-use, it offers integrated, cost-effective systems for healthcare delivery, helping to standardize and exchange financial information between entities.
Today, Microsoft Dynamics GP is used by 38,000 companies around the world, including a fast-growing number of hospitals, clinics, and long-term care facilities. Backed by Microsoft award-winning customer service, it's enabling healthcare providers to improve their financial and business processes, and ultimately deliver more cost-effective healthcare. Read on to find out why it's a sound choice for organizations in the healthcare industry.
Why Microsoft Dynamics GP for the healthcare industry?
Get the exact functionality you need from people who know your industry
Microsoft Dynamics GP takes a modular approach to functionality, and therefore it's customizable. That means you can invest only in the specific functionality you need. This can help ensure low total cost of ownership that translates to rapid return on investment.
Microsoft technology partners combine extensive knowledge about Microsoft technologies with a deep understanding of the specific business requirements of healthcare providers. That knowledge and understanding enables them to quickly implement Microsoft Dynamics solutions that solve the business issues that healthcare organizations face today.
In addition, Microsoft Dynamics GP is supported by a network of independent software vendors, value-added resellers, and systems integrators that understand the specific requirements of the healthcare industry. These partners can help healthcare providers select and implement the modules that will deliver the most benefit to their operations.
This page describes some of the core functions and benefits that Microsoft Dynamics GP can offer your healthcare business.
Financial management: Improve efficiency and insight
Microsoft Dynamics GP delivers the financial management tools that healthcare providers need to run their operations with efficiency and business insight. It offers applications that streamline processes, increase productivity, and improve decision-making in areas that are critical for healthcare providers.
- General ledger: The central nervous system for financial processes, the Microsoft Dynamics GP General Ledger module offers strong financial controls and audit trails, the ability to drill down from summary information to the corresponding detail, and unit accounts for tracking non-financial statistical data. It also provides the flexibility to adapt to changing needs along with new process controls to ensure accuracy and consistency.
- Financial reporting: FRx, Microsoft's industry-leading financial report writer, uses a spreadsheet-like interface to deliver the ultimate in report design flexibility. Powerful row, column, and reporting tree building blocks make it easy to construct new reports that are customized to answer specific business questions. Reports can be automatically distributed by e-mail, printed, viewed on screen, exported to a Microsoft Office Excel pivot-table report, or published to the Web. FRx also offers exclusive drill-down functionality that enables users to access actual source documents. With Analytical Accounting, financial transactions can also be classified, reported, and analyzed in multilevel reports displayed in Microsoft Office Excel for easy manipulation and integration.
- Budgeting and forecasting: The FRx Forecaster module is a Web-based tool for creating and managing budgets and forecasts at any level. With FRx Forecaster, healthcare providers can shorten the budget cycle and generate more accurate financial forecasts. Highlights include automated workflow and planning coordination based on user-defined roles and rules.
- Accounts payable: Microsoft Dynamics GP Accounts Payable enables healthcare providers to track and analyze extensive vendor information, efficiently process payables, and make the most of vendor discounts while maximizing cash flow. With Accounts Payable, healthcare administrators have instant access to all vendor history, including checks, invoices, and purchase orders.
- Fixed assets: The Fixed Assets module provides features to record, track, and report on capital assets. Highlights include unlimited books to help track assets for corporate, federal tax, alternative minimum tax, adjusted current earnings, and other purposes; total control over asset retirement and transfer; and integration with accounts payable and purchase order processing with full drill-down capability to the original vendor invoice.
Payroll and human resources management: Attract, retain, and manage talented staff
Microsoft Dynamics GP helps healthcare providers attract and retain talented, motivated employees with tools that make it easier to record, store, and access employee information.
Dependant on the skills and experience of physicians, clinicians, nurses, and other professionals, and organized to meet the around-the-clock needs of patients, healthcare providers have extremely complex requirements when it comes to payroll and human resources management. Microsoft Dynamics GP Payroll and Human Resources modules include functionality to coordinate calculation of payroll tasks automatically, even as employees work in different departments and at different rates in a wide range of combinations.
- Payroll: Microsoft Dynamics GP payroll module delivers the features, control, and security needed to manage sensitive payroll information. Direct deposit processing streamlines salary disbursement, reducing costs and enhancing security. The payroll module offers seamless integration with the human-resources module, plus unlimited pay types, automatic calculation of shift differentials, unlimited deductions and benefits, on-screen inquiries, drill-down capabilities, pay history, and automatic tax updates.
- Human resources: Attracting and retaining talented, motivated employees is critical to the success of any healthcare provider. The Microsoft Dynamic GP Human Resources module is designed to address both of these requirements by providing the ability to track an applicant’s references, education, skills, and interview information. It also provides tools for tracking everything from an employee’s demographic information to their attendance, benefits, pay history, position history, training, and much more.
- HRM self service: HRM self-service capabilities enable healthcare organizations to empower managers and employees and reduce administrative costs, all in a more secure environment. Easily customized, the HRM Self Service Suite is a browser-based application that includes self-service functionality for managers and employees, employee pay history inquiries, benefits enrollment and status, employee profile review and updates, and skills and training information.
Materials management: The right supplies—where and when they're needed
Microsoft Dynamics GP enables healthcare organizations to improve materials management efficiency so they can deliver the right supplies to the right place at the right time while also lowering costs.
Efficient materials management is an important component for success in virtually every industry. In healthcare, it not only affects the bottom line, it is also key to delivering safe and effective patient care. Microsoft Dynamics GP enables healthcare organizations to ensure that healthcare workers have access to the right supplies when and where they are needed by delivering the framework for efficiently managing the entire chain of supply.
Microsoft Dynamics GP modules for materials management include:
- Material requirements planning: You can take advantage of deep visibility into material requirements in order to achieve more effective resource planning, reduce stock outages, and drive down inventory costs.
- Bill of materials: Complete, consistent, and correct materials information help you maximize efficiency and cut inventory costs across the organization. By tightly integrating different types of bills and customized definitions, the Bill of Materials module helps improve performance and ensure materials are where they should be when they are needed.
Features to help reduce the cost of healthcare operations
High-quality care is the number one priority for healthcare providers; reducing costs is the number one imperative. Microsoft Dynamics GP can help healthcare organizations streamline processes, increase productivity, and reduce inefficiency. Microsoft Dynamics GP offers a wide range of additional features and capabilities with significant potential to streamline operations and reduce costs.
Those features include:
- Microsoft business portal: Microsoft business portal can be a valuable addition to Microsoft Dynamics GP for healthcare providers. Healthcare portal solutions streamline information-sharing by providing a single central location where healthcare organization financial professionals can access important business information. Microsoft business portal also provides an ideal way to deliver human resources information to employees, along with a wide range of self-service employee features. Built on Microsoft SharePoint technologies, the Microsoft Business Portal can be easily integrated with other applications in the enterprise.
- Multi-entity capabilities: Today's integrated healthcare delivery systems provide a full range of provider services through hospitals, clinics, long-term care facilities, and home health agencies. Microsoft Dynamics GP is an extremely cost-effective solution that addresses the problems inherent in standardizing and exchanging financial information between healthcare organizations within an integrated delivery system.
Regulatory compliance: How Microsoft Dynamics GP can help
Healthcare organizations face a heavy burden in their efforts to achieve compliance with a growing number of regulatory mandates and standards. Microsoft Dynamics GP delivers the enterprise resource planning (ERP) framework healthcare organizations need in order to achieve and maintain compliance with a broad range of regulatory mandates.
Microsoft Dynamics GP provides the tools and ERP framework that can help healthcare organizations connect systems and implement practices and procedures that are the foundation for achieving and maintaining regulatory compliance.
Microsoft Dynamics GP offers modules that can assist healthcare organizations as they work to achieve compliance with critical standards and regulatory requirements:
- Electronic signatures: The electronic signature module helps healthcare organization improve security and enhance data validation by providing the ability to enforce dual signature authorization in addition to the capture of preformatted reason code information and text comments during system transaction activity.
- Audit trails: Audit trails capabilities provide tracking, tracing, and reporting accountability capabilities for Microsoft Dynamics GP. With Audit Trails, healthcare organizations can capture and archive changes to all electronic data and documents required for maintaining regulatory compliance through features including before and after transactional information, user ID, and time and date stamps.