Financial Management: Improve Efficiency and Insight

NexTec Group delivers financial management tools that healthcare providers need to run their operations with efficiency and business insight. We offer applications that streamline processes, increase productivity, and improve decision-making in areas that are critical for healthcare providers.

• General ledger: The central nervous system for financial processes, the Microsoft Dynamics GP General Ledger module offers strong financial controls and audit trails, the ability to drill down from summary information to the corresponding detail, and unit accounts for tracking non-financial statistical data. It also provides the flexibility to adapt to changing needs along with new process controls to ensure accuracy and consistency.
• Financial reporting: FRx, Microsoft's industry-leading financial report writer, uses a spreadsheet-like interface to deliver the ultimate in report design flexibility. Powerful row, column, and reporting tree building blocks make it easy to construct new reports that are customized to answer specific business questions. Reports can be automatically distributed by e-mail, printed, viewed on screen, exported to a Microsoft Office Excel pivot-table report, or published to the Web. FRx also offers exclusive drill-down functionality that enables users to access actual source documents. With Analytical Accounting, financial transactions can also be classified, reported, and analyzed in multilevel reports displayed in Microsoft Office Excel for easy manipulation and integration.
• Budgeting and forecasting: The FRx Forecaster module is a Web-based tool for creating and managing budgets and forecasts at any level. With FRx Forecaster, healthcare providers can shorten the budget cycle and generate more accurate financial forecasts. Highlights include automated workflow and planning coordination based on user-defined roles and rules.
• Accounts payable: Our solutions enable healthcare providers to track and analyze extensive vendor information, efficiently process payables, and make the most of vendor discounts while maximizing cash flow. With Accounts Payable, healthcare administrators have instant access to all vendor history, including checks, invoices, and purchase orders.
• Fixed assets: The Fixed Assets module provides features to record, track, and report on capital assets. Highlights include unlimited books to help track assets for corporate, federal tax, alternative minimum tax, adjusted current earnings, and other purposes; total control over asset retirement and transfer; and integration with accounts payable and purchase order processing with full drill-down capability to the original vendor invoice.

Payroll and human resources management: Attract, retain, and manage talented staff
NexTec helps healthcare providers attract and retain talented, motivated employees with tools that make it easier to record, store and access employee information.

Dependant on the skills and experience of physicians, clinicians, nurses, and other professionals, and organized to meet the around-the-clock needs of patients, healthcare providers have extremely complex requirements when it comes to payroll and human resources management. Microsoft Dynamics GP Payroll and Human Resources modules include functionality to coordinate calculation of payroll tasks automatically, even as employees work in different departments and at different rates in a wide range of combinations.

• Payroll: Microsoft Dynamics GP payroll module delivers the features, control, and security needed to manage sensitive payroll information. Direct deposit processing streamlines salary disbursement, reducing costs and enhancing security. The payroll module offers seamless integration with the human-resources module, plus unlimited pay types, automatic calculation of shift differentials, unlimited deductions and benefits, on-screen inquiries, drill-down capabilities, pay history, and automatic tax updates.
• Human resources: Attracting and retaining talented, motivated employees is critical to the success of any healthcare provider. The Microsoft Dynamic GP Human Resources module is designed to address both of these requirements by providing the ability to track an applicant’s references, education, skills, and interview information. It also provides tools for tracking everything from an employee’s demographic information to their attendance, benefits, pay history, position history, training, and much more.
• HRM self service: HRM self-service capabilities enable healthcare organizations to empower managers and employees and reduce administrative costs, all in a more secure environment. Easily customized, the HRM Self Service Suite is a browser-based application that includes self-service functionality for managers and employees, employee pay history inquiries, benefits enrollment and status, employee profile review and updates, and skills and training information.

Materials management: The right supplies—where and when they're needed
Efficient materials management is an important component for success in virtually every industry. In healthcare, it not only affects the bottom line, it is also key to delivering safe and effective patient care.

• Material requirements planning: You can take advantage of deep visibility into material requirements in order to achieve more effective resource planning, reduce stock outages, and drive down inventory costs.
• Bill of materials: Complete, consistent, and correct materials information help you maximize efficiency and cut inventory costs across the organization. By tightly integrating different types of bills and customized definitions, the Bill of Materials module helps improve performance and ensure materials are where they should be when they are needed.

Features to help reduce the cost of healthcare operations
High-quality care is the number one priority for healthcare providers; reducing costs is the number one imperative. Microsoft Dynamics GP can help healthcare organizations streamline processes, increase productivity, and reduce inefficiency. Microsoft Dynamics GP offers a wide range of additional features and capabilities with significant potential to streamline operations and reduce costs. Those features include:

• Microsoft business portal: Microsoft business portal can be a valuable addition to Microsoft Dynamics GP for healthcare providers. Healthcare portal solutions streamline information-sharing by providing a single central location where healthcare organization financial professionals can access important business information. Microsoft business portal also provides an ideal way to deliver human resources information to employees, along with a wide range of self-service employee features. Built on Microsoft SharePoint technologies, the Microsoft Business Portal can be easily integrated with other applications in the enterprise.
• Multi-entity capabilities: Today's integrated healthcare delivery systems provide a full range of provider services through hospitals, clinics, long-term care facilities, and home health agencies. Microsoft Dynamics GP is an extremely cost-effective solution that addresses the problems inherent in standardizing and exchanging financial information between healthcare organizations within an integrated delivery system.

Regulatory compliance: How Microsoft Dynamics GP can help
Healthcare organizations face a heavy burden in their efforts to achieve compliance with a growing number of regulatory mandates and standards. Microsoft Dynamics GP delivers the enterprise resource planning (ERP) framework healthcare organizations need in order to achieve and maintain compliance with a broad range of regulatory mandates.

Microsoft Dynamics GP offers modules that can assist healthcare organizations as they work to achieve compliance with critical standards and regulatory requirements:

• Electronic signatures: The electronic signature module helps healthcare organizations improve security and enhance data validation by providing the ability to enforce dual signature authorization in addition to the capture of preformatted reason code information and text comments during system transaction activity.
• Audit trails: Audit trails capabilities provide tracking, tracing, and reporting accountability capabilities for Microsoft Dynamics GP. With Audit Trails, healthcare organizations can capture and archive changes to all electronic data and documents required for maintaining regulatory compliance through features including before and after transactional information, user ID, and time and date stamps.

To learn more about NexTec Group and how we can provide an afordable, end-to-end application solution that meets your specific needs, please contact our office located nearest you or submit an information request.

With offices in the Pacific Northwest, Southern California, Houston, Cleveland, New Jersey and New york City, we offer a world-class team of CPAs, MBAs, MCPs, former controllers and other professionals dedicated to implementing robust, scalable software solutions to address our clients' unique needs.