Let’s face it, some accounting systems’ canned reports just don’t cut it. They’re not tailored to hospice and home health reporting needs. Sometimes they don’t give enough detail of critical areas of expense or simply aren’t organized with the priorities of healthcare in mind. If you need help or pointers for hospice financial statement preparation or financial templates, click here to GET IN TOUCH… and skip to the contact form.
Blackmor CPA’s financial professionals can prepare and present your hospice’s monthly financial statements to your Hospice or Home Health Executive Director or CEO. We bridge the gap between the accounting staff and the executive team, resulting in timely, unified, reliable financial reports.
Hospice Business Intelligence (‘BI’) Reporting Suite
Our latest offering brings BI reports and dashboards to smaller agencies that couldn’t otherwise afford it. BI tools offer a level of reporting formerly only available to large healthcare companies with a big IT spend. Please see our page about our HospBI service.
Aaron came into our agency and helped bring innovative ideas that married numbers of accounting and the human touch of hospice care. Aaron’s knowledge of his programs, hospice and overall finance department gave our agency the ground work to flourish. What a gem!
-Kristina Leyden, CEO of Richmond County Hospice (Rockingham, NC)
Hospice Financial Statement Preparation and Assistance
We work alongside your existing accounting function to give you a clearer understanding of your business terrain. We can work with any accounting system to ensure your reporting aligns to end-user needs and preferences.
Never Feel Unprepared for Another Important Meeting
Are you able to accurately report financials to the board of directors and confidently handle any questions that board members may have? Do you have a simple, single-page report to answer the question, “How are we doing financially?” These are the kinds of reports in which we specialize when we engage in hospice financial statement preparation.
How Are We Doing Financially?
We provide industry-standard financial statements with the flexibility to separate business units, locations, teams, disciplines and drill down into details when you need to. This includes our commentary and red flags where, every month we give you the high-level view and every quarter provide additional perspective on your performance vs. historical, budget and industry.
Clinical Managers also need good information to help them understand the financial impacts of their decisions, particularly those concerning labor costs and spending on supplies. We can work with your organization to ensure the right information gets to those who need it.
We also offer more ‘high-level’ consolidated reporting or assistance with hospice business intelligence and dashboard types of reporting, so end users can have exactly what they need instead of getting bogged down in unnecessary details.
“Well, we’re part of a large system, so how can you help us?”
We can serve large healthcare conglomerates where the “one-size-fits-all” financial statements don’t give the detail needed for running a smaller business unit within the larger framework. We can free up internal resources for a growing organization to give breathing room without having to add extra staff.
Furthermore, we have worked with large (>500 ADC) hospices and understand the complexity and myriad roadblocks that hamper hospice-specific reporting at large agencies. We’ve also networked with the best of the best at large agencies, and through our network we can leverage existing relationships to determine what technology or process best addresses the agency’s reporting needs.
“Well, we’re just a relatively small hospice.”
We can work as an adjunct to existing staff to free up internal resources and manage only the financial statement preparation. This is a great fit for a company that has an accounting team in place but could use an objective outside perspective with a level of industry depth that may be cost prohibitive to hire internally. This gives the executive team and the board a reliable set of financial statements without asking too much of someone who’s hit their lid (Maxwell’s Law of the Lid). Or, this service could help grow a relatively green up-and-coming team player into a more seasoned CFO.
“Can You Help Implement MVI Best Practices?”
Given our extensive history with Multi-View, we can also work with your organization to establish and manage to your MVI Model amounts. With our layer of hospice financial statement preparation, we’ll maintain and manage your MVI Management Application and submit it monthly to MVI Benchmarking, so your Benchmarking and Decision Dashboard reports can be ready on time every time. This gives you the end results of properly configured financial reporting that is geared specifically toward management within the MVI Model–the culmination of best practices resulting in at least 14% operating margins.