Financial Management

The HospitalAX financial module offers all the functionality that is required for transparent financial management with automated transversal workflows. It is an open platform with extensive integration capabilities.

General accounting

HospitalAX has sector-specific functions for the general accounting process of a hospital, which means that basic data such as the chart of accounts, currencies and calendar definitions only have to be set up once for different institutions. 

Analytical accounting

The analytical dimensions, cost center and cost element (suffix) are included in HospitalAX as standard. Extra analytical dimensions can be added if desired or required. All analytical dimensions can be monitored with standard reports. The cost accounting module has extensive formatting and simulation capabilities to distribute indirect costs and revenues across final cost centers for the 'beddenlaken/drap de lit'. 

Crediteurenbeheer

Besides the maintenance, follow-up and payment of creditors, HospitalAX pays special attention to the process for entering purchase invoices. This includes linking scanned invoices and using a workflow for the approval process of price and quantity differences in purchase invoices, for example. 

Budgets

Budgets can be read easily through bidirectional integration with MS Excel. They can be defined in cost and revenue accounts and in all analytical dimensions.

A distinction can be made between the original budget, revisions, transfers, etc. Based on these budgets, budgetary controls can be activated that monitor the available budget from the request stage to the invoicing stage. More detailed budgets for cost projects and investment projects can also be defined. Budget controls can therefore work at both levels.

Subsidy management

Besides VIPA funding, subsidy management also supports various other subsidy and funding sources, such as Biobank, internal investment funds, building societies, etc. It can also link them to specific projects and/or fixed assets.

Investments and fixed assets

Investments and fixed assets are adjusted to the sector-specific rules. The entire cycle is supported from the investment request to the investment approval, to the receipt of goods, to the processing of the purchase invoices for goods and services, to the depreciation, the revaluation, and the decommissioning or sale.

Loans management

Loans management simplifies daily and periodical accounting activities, such as the entry of debts and interests, transfers from long-term to short-term debts and the processing of interest rate revisions. The amortization tables supplied and possibly reviewed by the financial institutions can be imported, which allows extensive simulations and multiannual overviews. The costs resulting from the loans can be distributed automatically across the hospital cost centers. This is done according to the linked investment projects based either on the linked fixed assets or fixed allocation keys.

Credit Management

Credit management has been expanded to meet the very specific requirements for following up patients, national health insurance funds, insurance companies and doctors. There is extensive integration with the pricing and patient administration software through text files and HL7 communication (consumption, invoicing and advances, fees, current debtor information with solvency feedback to the ADT).

The following functionality is also included: 

  • Patient refunds
  • Reminders to patients, national health insurance funds and doctors with separate reminder profiles
  • Temporary or permanent blocking of receivables
  • Family-related installment plans
  • Follow-up lists for third parties (lawyers, process-servers and collection agencies)

Since all customer follow-up can be done from one window, the emphasis is very much on ease of use.

Bank and cash management

Payment files for creditors and doctors can be created automatically for further processing by the bank via Isabel. There is an extensive automated settlement function to process bank statements received as CODA files via Isabel. Management of multiple manual bank and cash journals is also included.

Statutory and sector-specific reporting

Statutory and hospital-specific reporting is fully supported: VAT returns, Intrastat declaration, financial statement according to the National Bank of Belgium model, tax forms, Finhosta, etc. HospitalAX also allows you to set up detailed, hospital-specific reports.