Financial Close Process for Healthcare – Keeping Pace with Modern Practices
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In the healthcare industry, the finance department plays a vital role in keeping the organization running smoothly.
The financial close process for healthcare has not escaped the heightened expectations for accuracy and speed, nor its challenges of reduced resources and increased regulations. As a result, throughout the entire process, patient data must be kept secure both while in transit and at rest in compliance with HIPAA regulations – something that’s easier said than done.
Now, before it’s too late to prevent costly fines or damage to your organization’s reputation, it’s time to make some changes in the close process for the healthcare industry. Finance departments can no longer rely on dated manual methods, such as spreadsheets, emails, and written task lists, to complete the financial close process.
Download this eBook to explore four strategies for increasing visibility and mitigating risk throughout your Record to Report (R2R) process:
- Jumpstart Improvement in the Cloud
- Safeguard Your Reputation
- Prepare for Audits
- Gain Process Visibility