Uncertain Times in the Long Term Care Industry

A recent article in McNights Long Term Care News highlighted the uncertainty that many in the long term care industry are facing. The piece notes, among other things, that entirely too many organizations are resistant to making IT changes, despite the fact that all available evidence suggests the long term care industry is somewhat behind, and really needs to get moving. It then posed two burning questions that keep top officials at senior living facilities up at night: 1) What does it take to be successful in this field, and 2) Do I have what it takes?

Many senior living facilities we speak with are asking themselves those two questions as they look at their infrastructure and accounting systems. They realize that long term care communities need to be more efficient and responsive compared to years past, and with new regulations, they realize they are held to a higher level of accountability then before. They need to be quicker than their competitors and they have to abandon practices that don't work. If you are a long term care facility, it is important to look at your accounting solutions and consider these questions:

Do we have the level of integration we need? The larger the organization, the more challenging it is to connect systems, processes and people. Rapid growth or a business acquisition can transform a midsize organization into a large organization overnight. Without effective connectivity across departments, efficient work processes are compromised. Poorly integrated business processes and limited visibility into workflow are not only costly, but they have a considerable negative impact on organizational agility and competitiveness.

Is our ERP solution up to date? You may have an integrated accounting solution in place, but how current is it? Is the version still supported? Is it relying on proprietary code?  You may find you have a functional, yet difficult to customize system and that adding new functionality in response to changing business needs is difficult or impossible.

Are we able to generate the reports we need? Does your accounting solution give you the flexibility and innovation to manage the multiple challenges of rising resident populations, high rates of staff turnover and increasingly complex reporting requirements? Can you quickly generate customized financial reports that aggregate data? Can you produce facility specific financial statements with drill down capability? Do you have the insight you need into statistical information and key metrics?

For more information on how you can solve the pressing questions long term care facilities face and how Dynamics GP can help, please contact us at 866-504-4357.

By Intellitec Solutions, Microsoft Dynamics GP Partner serving Pennsylvania and Delaware