Cloud based accounting – taking medical practitioners to the next level

By Vicki Macdermid - August 23, 2016

Over the last five years, we have facilitated the adoption of cloud based accounting software for many of our medical clients, particularly Medical Practitioners.

As a result, the ability to access real time financial data, accessible anywhere, anytime on any device is now a reality.

This article is the first in a series to provide you with a guide on how cloud based accounting software can improve your medical practice. Efficiencies can be gained in many aspects:

  • Bookkeeping process;
  • Extracting data into useful information to enable better decision making; and
  • To provide you with real time access to financial data.

The first part of achieving efficiency in your medical practise is to understand what basic functions cloud based accounting software can offer.

Firstly, you can access software applications remotely through the internet or other networks via a cloud service provider. It potentially allows employees across multiple practice locations to access the same data and the same version of the software at the same time.

The information and accessibility is completely customisable, so you can restrict or allow specific types of information to certain people. Through the Pitcher Partners’ set up process, we work with you to identify your specific needs and either tailor the product for you, or teach you how to customise these options. The choice is yours.

Most applications typically charge based on usage – compared to site license fees associated with traditional software. As a result, this frees the medical practice from having to install and maintain software on individual desktop computers and servers. Data back up and disaster recover re essentially a thing of the past. As part of the set up, we provide a comparison of software packages including costs, functionality, security and support. We have seen far too often our new medical clients overpay for subscriptions, as they have software applications with functions they do not use, or need.

With so many options available, the first step is to scope the current needs of your medical practice and how those needs may change over time as the practice grows and expands. Stay tuned for our next article which will identify some of the key functionalities that will be useful for your medical practice on a day-to-day basis.

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