5 ways to save time through the finance module in VCare
VCare’s financial module gives managers and administrators the tools to effectively handle funding and billing in an efficient manner consistent with Irish standards and to pass that billing information to the organisation’s wider financial systems.
VCare includes extensive billing functions for managing a range of billing scenarios, including invoicing, funding, batch lists and comfort accounts.
VCare dramatically reduce the time needed for invoicing and improve accounts management. Check out the top 5 ways to save time through the finance module in VCare:
- Fully automates the billing cycle
- Ensures there’s no revenue leakage
- Integrates with accounting software if desired
- Greatly reduces the admin workload of the finance team
- Handles price increases and backdating if price changes with ease
Fully automates the billing cycle
Automated billing reduces the time needed for processing and frees up your staff to focus on more important tasks as opposed to routine paperwork. Automated billing significantly reduces the time needed to carry out your billing cycles and removes human error, an aspect of paper-based billing that requires unnecessary time to resolve.
Using VCare to automate your billing cycle speeds up cycle times as aspects of billing such as data entry and sending invoices on time are completed with accuracy reducing the need for follow-up.
Ensures there is no revenue leakage
Human error is unavoidable, one of the main benefits of VCare is the automation of your billing processes and increased accuracy of financial records being kept. VCare ensures all your files are in one -place and are easily accessible to those who need to access them. Even with an organised file system the likelihood of human error in misplacing or losing paper files something nursing homes need to be concerned about.
Not only does this significantly reduce billing errors but it reduces the likelihood of revenue leakage through both inaccurate billing and wasted staff time.
Integrates with accounting software if desired
One of the biggest concerns for nursing home operators is ensuring that any system implemented in their facility can talk to the other systems so information can be easily shared resulting in more effective processes. Using multiple applications or software that doesn’t integrate or talk with each other can be a nightmare for you and your staff. It not only puts additional pressure on staff to input data into various locations, but it increases inefficient data management and the likelihood of human error and double handling.
VCare can integrate with a range of accounting software systems so your financial processes can flow smoothly between systems, removing double handling and reducing the need to move all existing financial records stored in other systems and put them into VCare.
Greatly reduces the admin workload of the finance team
Giving your admin staff the ability to access financial information easily and from one single location in VCare improves the rates of staff responding and managing their work. Staff productivity can dramatically increase as they become more and more confident with accessing information on VCare and they will no longer have to comb through mountains of paperwork to find financial records.
VCare’s financial module removes the need for meaningless tasks that take up unnecessary amounts of time such as invoice entry and filing. VCare removes the need for staff to search through financial reports and input that information into a system ready for auditing.
Handles price increases and backdating if price changes with ease
Nursing homes have a wide range of residents with varying financial obligations, these are often being adjusted as circumstances change. VCare’s financial module helps ease the stresses of prices changes by automating billing processes when changes occur.
VCare gives your staff the ability to backdate if prices change, removing the likelihood of errors and giving your staff confidence the right amount is being charged.