The Best HIPAA-Compliant Accounting Software
The Health Insurance Portability and Accountability Act (“HIPAA”) has protected the private medical records of patients since 1996. Your healthcare practice must adhere to HIPAA regulations, and beyond that, the software you use to manage your practice must also be HIPAA-compliant. This can be frustrating for healthcare providers who fall in love with a solution, only to discover it lacks all-important compliance features.
While some HIPAA-compliant software has been built specifically for the healthcare industry, you may loathe the clunky interfaces or limited capabilities of these products. Thankfully, there is a best-in-class cloud accounting software with an ideal feature set for the healthcare industry, including HIPAA compliance—Sage Intacct.
About Sage Intacct
What does it mean for Sage Intacct to be a best-in-class cloud accounting software? It means Sage Intacct offers deep functionality in specific areas of accounting and financial management, and that users with an internet connection can access data from this software at any time and from any device. As a best-in-class solution, Sage Intacct also boasts an open API, which lets it integrate with many other best-in-class solutions.
Avertium (formerly Sword & Shield) vetted Sage Intacct under its HIPAA Compliance Program (HCP) and awarded the software a “Compliant” status. Additionally, in September 2020, Sage Intacct became the first and only cloud financial management system to receive a Peer Reviewed designation from the Healthcare Financial Management Association (HFMA). The report highlighted Sage Intacct’s compliance features in addition to its multi-currency and multi-entity capabilities, which make it a compliant yet flexible system.
Solutions like QuickBooks Enterprise and Oracle NetSuite are often considered alongside Sage Intacct, and while these do offer broad functionality, they lack the HIPAA-compliant features that make Sage Intacct so viable for healthcare organizations.
Sage Intacct’s HIPAA-Compliant Features
Sage Intacct’s features adhere to HIPAA guidelines so that healthcare organizations can benefit from a full-fledged financial management system while still maintaining regulatory compliance.
Advanced Audit Trail
Monitoring the accessibility of patient info ensures your software protects the protected health information (PHI) of your patients. Sage Intacct’s Advanced Audit Trail tracks the access and edit history of a given file. Cloud software is known for its ease of accessibility from different devices. Sage Intacct accounts for this by logging all types of file access, including lists and dropdown views, inclusion in reports, and the use of third-party software. Advanced Audit Trails can track file access for contacts, vendors, and patient records.
EMR Integrations
Don’t worry about Sage Intacct not synching with your existing electronic medical record (EMR) programs. Sage Intacct’s open API means it pairs well with other programs that your company may use. If your practice works with software like MatrixCare or Hybrent, you’ll find it easy to synchronize those solutions with Sage Intacct.
Sage Intacct is built to integrate with your current EMR system, but it is also built to ensure data transferred between software is secure. The developers at Sage Intacct have taken steps to protect data flowing through the API; integrations are secure and compliant, offering high-level protection for your PHI.
Additionally, If you would like to shift away from your current software as you transition to Sage Intacct, you can check out the Sage Intacct Marketplace for healthcare industry add-ons.
Security
One of the most important elements of HIPAA-compliant accounting software is the level of security provided. The cloud is known for its overall high level security, but Sage Intacct goes above and beyond to protect your data. Sage Intacct partners with Avertium to implement safeguards that are certified HIPAA- and HITECH-compliant. Your software will also update quickly and automatically to keep you on the latest, most secure version of the software.
Conclusion
Sage Intacct supports growing healthcare practices with customizable reports and HIPAA-compliant features. Whether you need to track file access, integrate multiple solutions, or ensure data security, Sage Intacct covers all your bases.
Cargas is proud to be a Sage Intacct Premier Partner. Many of our expert consultants are CPAs and former CFOs and controllers with a deep understanding of healthcare accounting and the power of Sage Intacct.
