The adage “knowledge is power” is especially apt for those running senior living communities. Your ability to draw meaningful insights from the diverse applications managing different facets of your operation is beyond beneficial – it’s a competitive necessity. However, with myriad senior living software applications running the show – from financial management and payroll to CRM and clinical operations – the ability to see the big picture can get lost in a sea of disconnected data points.
In our work with senior living communities, we see this challenge all too often and set out to help them solve it. Here are five ways we work with senior living organizations to solve their integration challenges.
1. Streamline Multi-Entity Management
We’ve found that Sage Intacct is an ideal financial management senior living software, primarily because it was designed for complex, multi-entity accounting. In our work with senior living communities, we’ve helped integrate Sage Intacct with operational systems (e.g., EHR, EMR, eMAR) to support consolidating financial data from multiple locations.
One senior living management group we work with used to spend over 20 hours each week collecting and combining data, and then formatting and distributing reports. We were able to automate the process pulling statistical data (i.e., non-financial data such as census) from ALIS by Medtelligent and Sage Intacct into a cohesive set of financials that are delivered to stakeholders automatically. “Now, instead of assembling reports, we can focus on solving business challenges and elevating operational efficiencies,” the company’s Executive VP tells us.
2. Improve Workforce Management
By integrating payroll and HR data with accounting and operational data, we’re helping communities gain insights into staffing costs that helps them make better use of their precious human resources.
For example, a community we work with was grappling with high staff turnover. We used integrated analytics to correlate staffing patterns with resident feedback. The data revealed that certain shifts were understaffed, leading to increased workload and decreased staff satisfaction. Strategic staffing adjustments improved retention rates and employee satisfaction scores.
Another client used the information they gained to reduce overtime and agency staffing costs. “We could see that while most of our communities maintained a five-percent overtime rate, one or two communities were consistently higher. Sharing this information helps keep the managers informed and accountable. As a result, we’ve reduced overtime rates across the board,” the Executive VP shared.
3. Elevate Program Management
CRM integration with senior living software provides a detailed view of resident interactions and preferences, which, when combined with financial data, can highlight investment opportunities for amenities and services that drive satisfaction.
For example, through integrated financial and clinical data, we helped a client identify that its most costly service offerings were not the most utilized by residents. They reallocated funds to expand more popular services, enhancing resident satisfaction and boosting their bottom line by reducing underused resources.
Another BT Partners client was able to analyze their cost per acquisition (CPA) by examining the total marketing spend over a period and the number of new residents acquired in that time. They used the information to focus their resources on the most cost-effective marketing channels.
4. Optimize Complex Financial Operations
Integrating Sage Intacct with clinical systems like ALIS allows for real-time monitoring of resident billing workflows, leading to greater accuracy and improved resident experiences.
For example, our data analytics team built a dashboard for a client that immediately notifies them of potential billing errors so they can quickly correct them. “The dashboard notifies us if we have two residents in a room but haven’t assessed a second-person occupancy fee,” the company’s Executive VP explains. “Even a small error like that is magnified considering we have 2,000 residents. Quick access to the data means we can fix issues like this immediately, so we don’t have to go back to the resident to explain the situation.”
5. Gain Real-Time Analytics
Cross-platform integration has the added advantage of supporting real-time financial analytics. Senior living communities can use this information to power faster, more informed decisions.
For example, say a resident in your community moves up a care level after a nurse’s assessment. Your management team can see the financial impacts of the move immediately. “The power lies in the ability to combine non-financial metrics with financials,” says the CEO of one of BT Partners’ clients. “The KPIs can monitor occupancy rates, potential vacancies, and more. Access to information like this can be game-changing for senior living communities. It allows us to react quickly to capitalize on opportunities or head off challenges.”
A Financial Analyst at Tuscan Gardens Management Group shared a similar experience in a recent case study. “BT Partners created dashboards that show us vacancy rates, market room rates compared to what we are currently charging, what floors in what facilities may need additional staffing level based on resident acuity, and much more.”
Take the Next Step
BT Partners crafts solutions that combine the many facets of senior living community management into a coherent, visible whole. By tackling senior living software integration head-on, we help communities gain the cross-platform visibility needed to make data-driven decisions that enhance every aspect of service and care. Our Business Management Solutions and Executive Analytics departments have engineered a suite of tools that work together to deliver a 360-degree view of your operations. Our approach is to make your data work as hard as you do. Reach out to a member of our team to start the conversation.
