Expense Reporting Software Saves Organizations, And Lives

Expense Reporting Software Saves Organizations, And Lives

Expense Reporting Software Saves Organizations, And LivesWhile all businesses benefit from accurate expense reporting, software programs that streamline the workflow are particularly important for establishments that utilize a number of third party vendors and contractors in order to operate. One of the places where this is especially noticeable is in care homes, assisted living facilities, and other live-in health services.

The reason that abuse of expenses is so common in these establishments is partially due to billing practices. Vendor expenses are approved by the organization, but the actual charges are billed to residents who make use of the supplies. Since these invoices are routine, approval for charges is simply granted. This is also an effort on the part of the care home to ensure that residents have the necessary resources to improve quality of life and maintain comfort.

However, since the cost is ultimately charged to the residents, facilities can fail to notice that overcharging is occurring, as it does not immediately affect the organizations profits and losses. Expense reporting software serves the purpose of monitoring these vendor bills and can also be set to established automated approval protocols, as well as manual evaluation of expenses before approval is given. What provides the most benefit to administrators is that online access with expense reporting software also means that spending can be evaluated at any time that a request comes through.

The result is that administrators who use expense reporting software are able to more efficiently manage their workload, with remote access to the system and online, real time verification of vendor receipts. This ability to check third party billing claims before the cost is passed on to patients is also a vital point to be considered.


Laws And Ethics

Elder law is becoming a growing specialty for many firms, but this has resulted from poor business practices on the part of care facilities. Unfortunately, many beneficial organizations have faced considerable penalties as a result of inflated vendor expenses being billed to residents. What is particularly sad is that many of these cases did not involve malicious fraud on the part of the institution, but actually came about through billing oversights which could have been caught with better expense reporting software.

It is important to remember that the law will see facilities as an accessory to theft and elder abuse, even if they did not condone the overcharging. Such an oversight is large enough that it becomes difficult to believe that no one in administration caught the fraud. As a result, many care facilities have faced bankruptcy and loss of reputation from these situations, when all that was required to avoid the scandal was expense reporting software to double check the accuracy of billing.

A greater concern is truly for the welfare of the residents, since the billing is ultimately a crime against these clients. The increase in cost of living from fraudulent expenses also means that sustained residence at these facilities becomes limited for the elder population. The breakdown in care protocols results in loss of support, and facilities without expense reporting software to uncover vendor dishonesty could face the guilt of unethical treatment of residents, along with considerable fines and countless audits.

It seems unfair that a facility would be penalized for a third party infraction, but the truth is that such crimes can be avoided. Accuracy, efficiency, and easy access, as provided through expense reporting software becomes an important part of managing care facilities, and monitoring just which costs are ending up where.