It doesn’t matter which field you’re in: You aren’t likely to use the latest technology regularly. In certain areas however, this doesn’t mean necessarily a problem however, and you should have devices that allow you to complete your job in the event that your system continues to function. However, in certain sectors, such as healthcare — outdated technology poses a serious risk when it comes to saving money as well as improving patient care and ensuring compliance with modern guidelines. Here’s a brief review of the issues that outdated software for financial transactions poses in healthcare and how you can do about these issues.
HIPAA Compliance
Perhaps there is no privacy law more popularly debated than HIPAA. HIPAA is also known as the Health Insurance Portability & Accountability Act is numerous legal and regulatory systems which patient information must conform to to be deemed legal in the health care industry. In this context the right ERP financial software could save the day in allowing patient information to exchange, while complying with all HIPAA guidelines. However, old software can face major issues with regard to compliance with regulations.
In addition ERP and Electronic Health Record (EHR) systems must be able to safeguard the patient’s data. In particular, information can be only shared or viewed by authorized persons and then exchanged in a way that is not splintered and safeguards a patient’s privacy. Any information that could identify an individual patient needs to be protected by the strictest security measures.
Therefore, you should make use of a system that safeguards the patient’s information and ensures that only authorized people have access to information. If you don’t, it can result in significant penalties, suspensions of licensure, or even prison time.
Like any other law the interpretation of law and regulations that govern HIPAA change constantly. Your EHR and accounting software system should be able of making these changes swiftly and efficiently. It must also be able to withstand the scrutiny of regulators from government. This means that you must be able to demonstrate that the ERP software is HIPAA compliant.
All of this points to a basic question: is this your situation? What are your assurances of your equipment being secure?
Cybersecurity
The statistics regarding healthcare and cybersecurity are extremely demoralizing. Everyday, it seems that the major healthcare providers are being hacked, their systems compromised as well as data stolen and reputations damaged. In many instances hackers are able to access an ERP system, which allows them to access the most sensitive information of a client.
It is not difficult to see that the field of cybersecurity has seen a significant change in the last year, and we’re not even talking about how it has evolved over the last decade. Therefore, you need an accounting system that is capable of addressing the latest cybersecurity requirements. This means the ERP program should:
Continuously receive technological support that keeps the system up-to-date or patch holes and implements new security measures to defend against the latest threats.
Give ongoing training to employees and all employees to help them better identify threats and defend themselves from threats.
Data should be encrypted and not accessible to anyone other than those who are who are authorized to view it.
Use robust controls to limit access to the system to only authorized users.
Utilize the most up-to-date cloud-based software, like Amazon Web Services, which Multiview Financial Software utilizes. As one of the top servers around the globe, Amazon Web Services has an array of extremely robust security measures that help to reduce the chances of a successful hack or an unauthorized entry.
It comes with its own custom security software.
The truth is that financial software from the past can be a problem in safeguarding a healthcare or hospital network from the dangers from cybercriminals of the present. This is why it is essential that you upgrade your financial software to ensure that you have an efficient system to fight back against the threats of today.
Telehealth
COVID-19 brought about a number of changes in the healthcare and medical world. The most noticeable is the telehealth sector. Telehealth has always been in use in the past, but when the outbreak of COVID-19 in the year 1999, a string of emergency orders significantly increased it’s insurance protection, its popularity as well as its necessity. This has led to a number of digital innovations that have completely revolutionized healthcare.
However, in order to manage the issue properly, back-office processes needed to be established that will enable hospitals and healthcare organizations to properly implement telehealth. In many instances this wasn’t an issue because the newer technology had systems that could allow for the use of telehealth. However, in certain instances the use of telehealth created big administrative issues. Take a look at all the areas that ERP accounting software covers and ask yourself the following questions regarding your system:
Have you found that your ERP software allow you to bill correctly for the telehealth services you provide?
If your state was affected by multiple disaster declarations or were in multiple states What was the ease with which your software for managing finances able to adjust to these changes? How flexible were the adjustments?
Can you use your ERP financial software be able to manage these procedures if you charged different rates for health care telemedicine?
Did you record the results of the use of telehealth?
What data were you able to generate with the ERP system able to produce which showed just how efficient your program for telehealth was?
These are crucial questions and procedures. Moreover, the majority of older ERPs did not keep up with the demands of the modern health insurance system.
COVID-19
As well as causing increasing use of telehealth COVID-19 strained and challenged the health industry in every way. This included the strain and stress that it placed on ERP systems.
Take a look at all the tasks that a reliable financial software program is designed to control:
Flexible supply chain and management of inventory.
Accountancy as well as billing.Record the retention period and display of data.
Be prepared for regulatory changes and assist hospital managers in identifying areas for improvement as well as non-compliance.
Gather the right information that can be used to convince policy makers of the necessity for necessary changes to be implemented.
In all these instances the ERP financial system must be able to adapt and capable of supporting administrators with emergency solutions, and ready to adapt to any needs of the. If a previous system failed in any of these areas it could put a hospital at risk of the risk of financial or health issues.
Simply put, many of the older ERPs could not adapt to the current requirements. The ERPs weren’t easily adaptable. They couldn’t develop new COVID-19 modules, or allow authorized users to update and access protocols information, data, or other crucial metrics to manage the virus. The data might not be accessible on devices that are mobile, making it difficult for people to safely and easily accessing the information. The result was that nurses, doctors and other healthcare professionals in the dark, and forced them to fight lethal disease using only one hand bound between their shoulders.
The problem in the back office quickly transformed into an office front one without access to reliable data, the practitioners weren’t aware of the issue they were facing
This blog post to inform you of an essential fact:
The field of hospitals and healthcare has seen a dramatic change over the last three, five as well as 10 years. This is why you must have modern tools and technologies within your business for optimizing your practices in business, improve the patient experience, and make sure that you’re following the appropriate laws. These are some of the benefits the latest ERPs such as Multiview Healthcare ERP Multiview Healthcare ERP — can provide your business. Multiview Healthcare ERP Multiview Healthcare ERP has a variety of custom-designed updates to meet your requirements, and will help you ensure your data, while also increasing overall effectiveness.
