Accounting apps for the health care sector perform the same functions as accounting apps for other sectors. They track spending and revenue at one or multiple locations, and they also provide a simple way for management teams to analyze and visualize their expenses by location, department, or supply channel. However, accounting apps for health care providers have additional features that cater specifically to the unique needs of medical companies. For example, an accounting app for a hospital might include a feature where hospital staff can alert others on-site of an emergency patient arrival or request assistance from off-site specialists during a surgery.
Accounting apps for the health care sector are similar to other enterprise business software solutions like project management apps and business intelligence (BI) apps. Some popular accounting solutions for the healthcare industry today include Intacct, NetSuite, and Workday.
A custom timesheet app built for remote care givers in the healthcare industry that simplifies the time tracking and payment process.
An accounting app can spread quickly within the health care sector by providing customized reports, easy-to-understand charts, and an interface that is simple enough for people with little accounting experience. Accounting apps also need to provide relevant information about the user's financial situation. At the same time, accounting apps need to provide advanced features for users who are knowledgeable about accounting.
An accounting app faces risks related to data security, HIPAA compliance, and malicious user behavior. Accounting apps store sensitive financial information, which puts them at risk for data breaches or unauthorized access. It is recommended that accounting apps use security features like access control lists (ACLs) and an application firewall to prevent unauthorized access to accounts. For HIPAA compliance purposes, accounting apps should obtain written informed consent from patients before accessing their health care records. It is recommended that the app obtain written informed consent on behalf of the patient whenever it wants to view or transfer any patient records.