Regulatory oversight is an important, necessary undertaking for long-term care facilities. There is no shortage of rules and regulations to follow or reports to prepare for various state and local entities, in addition to shareholders. Tracking key information in spreadsheets is risky and errors can cause chaos during an audit or visit by the health department.
Growing businesses often struggle to capture reliable, accurate data needed for compliance and regulatory reporting. This struggle becomes even more complicated with every acquisition or merger since these new entities often have their own business systems in place. Already under close regulatory scrutiny, senior and long-term care facilities must be ready to respond quickly to regulatory agencies, especially during an audit. As discussed in “6 Proven Ways Long-term Care Organizations Maintain Profits During Times of High Growth,” to strengthen compliance efforts, you should consider replacing outdated, inefficient systems with more modern technology.
Strengthen and Streamline Regulatory Reporting With Microsoft Dynamics GP
A comprehensive, integrated business management solution, such as Microsoft Dynamics GP, provides a more powerful platform for long-term care organizations. A connected system streamlines data management for each individual facility and rolls up data providing a ‘big picture’ view of the business as a whole. With Microsoft Dynamics GP, you can, for example, manage inventory throughout your organization, from food to medicine, exercise equipment to vehicles. Centralizing data streamlines traceability and provides a unified platform for employees to enter, access, manage and report on key compliance data.
Microsoft Dynamics GP includes built-in reporting and business intelligence features that streamline data analysis and reporting. Instead of taking days to find and record regulatory compliance information, reports can be generated to address state and local requirements with greater accuracy and efficiency, and much faster. This robust solution also offers stronger internal controls and security features. Audit trails protect data integrity and privacy controls protect resident information.
Regulatory scrutiny of senior and long-term care facilities isn’t likely to get any easier. Replacing disconnected business systems with a single, more comprehensive solution will protect your organization as you acquire new facilities or expand operations. Download the eBook and contact Socius for more information about streamlining regulatory compliance activities.