QuickBooks Hosting for Healthcare – 5 Reasons Why You Should Use it

Managing complex operations while complying with regulatory needs is daunting for any healthcare firm. QuickBooks, one of the most used accounting software, offers healthcare firms, clients, and customers the trusted capabilities of a simplified, user-friendly accounting environment.

By moving QuickBooks to a cloud-based environment, healthcare firms can more easily address the pressing challenges of hospital branches, clinics, and diagnostic centers across cities and countries.
QuickBooks Cloud Hosting for Healthcare firms makes it easier to enhance health team collaboration and centralize clinical and functional data insights for better operational efficiencies.

Let’s explore how healthcare firms can meet their clinical and operational needs with QuickBooks cloud hosting.

How QuickBooks Hosting Solves Healthcare Challenges?

QuickBooks accounting on the cloud supports healthcare firms in managing financial processes from anywhere. QuickBooks software is hosted on a cloud server, eliminating the necessity for traditional, on-premises systems.

Healthcare firms can integrate cloud-hosted QuickBooks with critical healthcare systems, such as Electronic Health Records (EHR) and Practice Management Software (PMS), to create a central platform for all the functions. This ensures a seamless data flow to manage revenue cycles, accounts payable, payroll, and financial reporting with unmatched accuracy and efficiency.

Meeting Regulatory Compliance As Per Industry Standards

Healthcare firms must comply with rigid regulatory provisions, including HIPAA (Health Insurance Portability and Accountability Act), to safeguard patient information from unauthorized user access.

For instance, a multi-specialty hospital that uses QuickBooks Hosting can foresee that the information related to thousands of patients is in a secure environment, even when multiple users are accessing it. If the healthcare firm is non-compliant with regulatory compliance, it leads to hefty fines, lawsuits, and damage to goodwill.

How QuickBooks Hosting Helps:

• HIPAA-Compliant Hosting: Many QuickBooks hosting providers, such as Ace Cloud Hosting, implement different levels of security protocols, from administrative to network, in their cloud infrastructure, meeting HIPAA guidelines.
• Data Encryption: QuickBooks hosting employs data encryption using advanced protocols to ensure data is safe in transit and at rest, making it impossible for cybercriminals to access it.
• Role-Based Access Controls (RBAC): RBAC limits entry to sensitive data based on user roles, guaranteeing that only permitted personnel can view or edit patient-related data.
• Regular Security Audits: When you host QuickBooks on the cloud, the hosting providers usually perform security assessments to ensure adherence to enterprise standards, delivering healthcare firms peace of mind.

Enhancing Patient Engagement with Cloud-based QuickBooks Solutions

Patient engagement is a central aspect of any healthcare firm’s offering of quality care to the public. The power of the cloud with QuickBooks enables healthcare firms to improve patient engagement, streamline processes with actionable dashboards, and secure communications.

QuickBooks integration with healthcare apps offers automated tools for generating electronic medical records (EMRs), invoicing, and reminders. A 360-degree patient view consolidates data for informed decision-making, allowing clinicians to coordinate treatment plans efficiently. This comprehensive approach enhances care quality and patient satisfaction.

Virtual health solutions enable secure, high-quality consultations through HD audio, video, and screen sharing. Virtual visits expand access to care, especially for remote or busy patients, and integrate seamlessly with existing clinical workflows. Hosting QuickBooks and your entire ecosystem in the cloud streamlines workflows and enhances patient service.

Simplifying Multi-Location Healthcare Operations

Healthcare firms generally have multiple branches, such as clinics, diagnostic centers, hospitals, and administrative offices, which makes it difficult to consolidate the data while managing financial workflows.

How QuickBooks Hosting Helps:

• Centralized Data Management: With Hosted QuickBooks, healthcare firms can record the expenses, payroll, and accounts receivable in a unified cloud environment, which can be accessed by authorized users from multiple locations.
• Real-Time Synchronization: As the data is hosted on the cloud, it ensures if one user makes changes in the records, it is synced in real-time and visible to others, preventing data duplication.
• Scalability: It is one of the best features of QuickBooks cloud hosting for healthcare firms. Being scalable implies that healthcare firms can increase or decrease user licenses per business needs.

To understand this, consider a cardiology hospital that started with simple facilities with around 50 staff members and 100 patients per month. With time, it expanded to multiple departments like pediatrics and more. The patient base, along with staff members, also grew monthly.

So, the hospital needed to increase its QuickBooks access as per license. If the hospital relies on cloud hosting, it can easily expand the storage capacity and provide access to users without impacting the system’s performance.

Role-Specific Access: Hosting providers enable role-based access, allowing financial managers in different locations to view only the data relevant to their responsibilities. For instance, a hospital chain operating in two states can operate QuickBooks Hosting to streamline budgeting processes and improve transparency across the board, all while ensuring multi-user access.

Improving Revenue Cycle Management

Revenue cycle management is vital for healthcare administration to handle patient billing, manage insurance claims, and collect payments for patient services and expenses. If a healthcare firm doesn’t do these processes on time, it can lead to cash flow issues, revenue leakage, and delayed payments.

Moreover, if healthcare firms rely on manual claims and have fragmented billing, claims, and payment processing systems, it can lead to limited visibility. Opting for a cloud-based QuickBooks solution optimizes revenue cycle management (RCM) through automated tracking. QuickBooks Hosting introduces modern features that address these issues, streamlining RCM for healthcare providers.

How QuickBooks Hosting Helps:

Automated Billing and Invoicing

Hosted QuickBooks enables healthcare providers to generate automated invoices with predefined templates for insurance or monthly patient billings.

Such automation reduces processing times and ensures that processes are ongoing without manual intervention and errors. You can also send reminders for outstanding bills, ensuring timely follow-ups.

Efficient Claims Management

Cloud-based QuickBooks integrates easily with insurance portals to streamline insurance claim management. A diagnostic lab uses insurance software to monitor and track the status of insurance claims, whether pending, approved, or denied.

Integrated Payment Processing

QuickBooks integrates with payment gateways such as Payment Cloud, North Payments, and Paypal. It ensures that hospitals can offer multiple payment options, including digital wallets, net banking, debit cards, and credit cards. Moreover, the invoices can be reconciled with payments, resulting in faster collections and enhanced patient satisfaction.

Custom Revenue Reports

QuickBooks provides advanced reporting to create custom reports, automate them, and integrate seamlessly with cloud workflows. Users can develop customizable reports on fundamental metrics, such as outstanding receivables, revenue sources, and payment trends.

Optimizing Operational Costs

Healthcare firms are constantly under pressure to reduce operational costs without compromising on quality of care. QuickBooks Hosting helps achieve this balance by eliminating the need for costly IT infrastructure.

How QuickBooks Hosting Helps:

• Reduced IT Overheads: Hosting eliminates the need for in-house servers, maintenance, and software updates, shifting these responsibilities to the hosting provider.
• Scalable Pricing: Healthcare organizations can scale their cloud resources up or down based on need, avoiding overpayment.
• Lower Downtime Costs: Reliable hosting providers ensure 99.99% uptime, preventing revenue losses due to system outages.

Why Is Quickbooks Cloud Hosting For Healthcare Better Than Quickbooks On-Premises?

Ready To Revolutionize Your Healthcare Operations With QuickBooks Hosting?

Healthcare is a fast-paced sector operating in a high-stakes environment where patient engagement and sensitive data collide. QuickBooks, hosted on the cloud, addresses these challenges and changes the pattern of how healthcare providers manage their accounting operations.

Whether integrating with hospital information systems (HIS) or automating the revenue cycles, it offers an accelerated solution for hospitals, clinics, and diagnostic labs. With secure and compliant data access and regulatory compliances, it helps healthcare firms focus on delivering robust service and agile healthcare systems.

Choosing QuickBooks Hosting is not just a technical upgrade—it’s a strategic decision to align healthcare operations with modern demands, fostering innovation, efficiency, and, ultimately, better patient care.

Have questions? Reach out to a Solutions Consultant at [email protected] or book a free trial today!