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Wednesday, 26 July 2017

The Cost of Sticking With QuickBooks

Written by The Rehmann Team

Even with a growing healthcare practice, budgets are tight. It’s difficult to justify the cash or time to deploy more modern business management technology. However, the cost of sticking with QuickBooks easily outweighs the alternative. A side-by-side comparison of the full costs and productivity implications associated with QuickBooks vs...

Tuesday, 12 June 2018

5 Signs Your Healthcare Practice Has Outgrown QuickBooks

Written by The Rehmann Team

You’ve put in a lot time and effort to nurture a growing healthcare practice and while QuickBooks worked well at the start, it’s time for something better. QuickBooks isn’t sophisticated enough to manage complicated healthcare operations and it could already be creating new problems. You may not have noticed it right away, but there are several signs that QuickBooks isn’t meeting your needs and could be hampering growth. Here are the top 5 ways to tell you’ve outgrown QuickBooks and what you should do now before things get worse...

When you don’t use the right tool for the job, the results are often problematic. A new healthcare practice can certainly get off to a good start with entry-level accounting software, like QuickBooks, but these benefits don’t last for long. As your facility grows and changes, which it certainly will, the type and volume of data generated by your practice also grows. At this point, QuickBooks becomes less useful and your financial team will resort to workarounds, manual data-entry and other patchwork processes...

Newer, smaller healthcare facilities often choose QuickBooks or QuickBooks Online for financial management. The solution offers the basic functionality needed to get operations started. However, as you hire more physicians, expand into new practice areas, and take on new patients, QuickBooks can’t keep up. Before the limitations of this entry-level solution stop growth in its tracks, say goodbye to QuickBooks and hello to a more agile, flexible, cloud-based financial management solution...

Monday, 22 May 2017

Is it time to outsource?

Written by By: Sharon Berman, CPA, CGMA and Steven Barnstable, CPA

There comes a time in the life of a growing business when certain functions begin to distract owners and management from their core business activities. Outsourcing accounting and other financial tasks enables management to “work smarter” by shifting these tasks to third-party providers who can perform them more efficiently and effectively. How do you know when it’s time to outsource? Here are six questions to ask: Is management spending too much time on routine tasks?..

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