Home healthcare organizations may not consider themselves to be project-based, but if they look at their patients or their patient groups as projects, they might see a lot of benefits if they begin tracking time and expenses to those patients.
Home Healthcare project Tracking and patient tracking
Because expense reporting is a necessary part of running a business, it’s important to first understand the challenges involved in tracking projects to expenses. First, project tracking can create extra effort for employees and there needs to be a way for data entered to be validated. Then, once done the work of tracking expenses to particular projects/patients, what do you do with that data?
Expense report technology is working to make tracking expenses and time to particular patients or projects simpler. With automated time and expense for home healthcare organizations, it’s possible to create new projects/patients/groups (or however you organize them) into the system and then it’s easy for employees to allocate their time or expenses to that project.
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What’s the payoff of tracking expenses and time to projects/patients?
- Better budgeting: You can see where employee time and expenses are going, down to the individual patient. This gives you insight into where your budget has gone so that you can better direct where it will go in the future.
- Compliance enforcement: When employees enter their timesheets or expense reports, it can be automatically validated against the company’s rules, government rules, or even the rules of a client. Submissions can be automatically rejected if they do not meet requirements, saving approvers the effort of doing so. This also allows approvers to spend more time on those submissions that do meet with policy requirements.
- Analytics: Having data is one thing, but understanding that data is another thing entirely. Analytics give you the power to create reports so that you can get valuable insights into spending, allowing you the opportunity to make more informed decisions about your organization’s future spending.
The end result of home healthcare project tracking is that these organizations can see themselves through a new lens and get full transparency of their bottom line in addition to identification of possible areas of waste.
The question then becomes: how does home healthcare project tracking work? In essence, employees input their data into the system, whether that’s timesheets or expense reports, and allocate them to particular projects or clients. An automated time and expense solution helps you process that data and integrates directly with your accounting, HR, billing, and even credit card feeds. Employees are paid for their time or reimbursement for their expenses. Then, you can take advantage of analytics concerning that data.
In the end, tracking company spend to projects, patients, events, or even activities can be easier than it sounds. DATABASICS’ home healthcare project tracking can do the heavy lifting associated with connecting time and expenses to those projects or clients.
Learn more about how DATABASICS Time & Expense for Home Healthcare™ can help your organization.
For more information on the DATABASICS Time & Expense solutions, contact us, or call (800) 599-0434.
DATABASICS provides cloud-based, next generation Expense Reporting, P-Card Management, Timesheet & Leave Management, and Invoice Processing automation. Specializing in meeting the most rigorous requirements, DATABASICS offers the highest level of service to its customers around the world.
DATABASICS is relied upon by leading organizations representing all the major sectors of the global economy: financial services, healthcare, manufacturing, research, retail, engineering, non-profits/NGOs, technology, federal contractors, and other sectors.
DATABASICS is headquartered in Reston, VA.