Logibec FMS - Financial Management System

Supporting administrative staff in managing healthcare facilities and ensuring their financial performance

Developed in close collaboration with hospitals, the Logibec FMS - Financial Management System is a complete administrative solution that adapts to the structure of each healthcare facility. It is an integral part of the Logibec Espresso software suite, and an integrated set of modules that drive information usage and exchange. This facilitates the automation of several financial workflows like accounting, budget management, accounts receivable and accounts payable management, and much more.

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93 %

Percentage of healthcare institutions in Québec that trust Logibec FMS.*

23,2 G$ 

Amounts processed by healthcare institutions using Logibec FMS.*

60 % 

Average ratio of receipts processed electronically, without human intervention.*

* Average rate of health establishments using the FMS solution and the Espresso suite.

Get quality financial data in real time

Logibec FMS provides healthcare facility managers with up-to-date information based on quality real-time financial performance data. This valuable information helps managers maximize the effectiveness of existing processes and provides support for financial decisions. 

Prioritize financial tasks that add value to patient services

Logibec FMS adds incalculable value to the daily lives of healthcare workers by automating interfaces and workflows. It easily captures financial transactions and ledger statistics, processes and pays invoices electronically, uses character recognition while scanning documents, and much more!

This allows administrative staff to maximize time spent on more valuable operational activities and focus on financial tasks aimed at optimizing patient care pathways.

Ensure compliance with complex legal requirements

Logibec FMS is built to accommodate the most complex requirements stemming from laws, claims, specific issues, etc.. It guides healthcare institutions through financial processes such as for collections, payments, and administrative follow-ups that must be carried out in greater depth.

Rely on real time updates for meticulous financial audits

With automatic updates compliant with the latest tax regulations, Logibec FMS minimizes the effort associated with changes in provincial taxes and charters. Healthcare organisations are therefore assured of generating accurate entries (interfund and reversals) that conform to current administrative and tax laws.

Access cutting-edge management reports and analytical tools

With its cross-referenced real-time data warehouse and analytical dashboards, Logibec FMS provides authorized managers and stakeholders with access to high-performance management reports, as well as multiple budget scenarios and the support they need to make strategic financial decisions.

Simplify data mining

With powerful and flexible access control, Logibec FMS simplifies administrative work by allowing staff to quickly and intuitively review financial results, to mine statistical and financial data directly, as well as to access budgets and detailed transaction entry screens.

General Ledger Management

Assists in the production and daily management of financial statements (LPRG, related party transactions, etc.) and automates bank reconciliations. 

Incorporates the administrative structure of the healthcare facility and adapts to various charts of accounts to ensure the accurate and compliant entry of financial and statistical transactions in the general ledgers. 

Managed access features to direct statistical and financial data mining, budgets and detailed transactions are included for optimal financial control.

Budget Preparation and Tracking

Facilitates budget preparation and monitoring, including salaries, revenues and other expenses, while integrating actual general ledger data.  

Provides access to features such as management reports and trend projections of the institution's financial performance. 

Makes financial reports available on screen, on paper, via email and in Excel, PDF and HTML formats. Allows for the creation of unlimited scenarios for budget analyses and makes it possible to define secondary scenarios for budget decentralization and attendance-based budgeting required, for added flexibility. Versatile control settings ensure the secure management of user profiles and the financial performance of the institution. 

Controls software usage parameters according to the mode of operations and confidentiality of the data specific to each institution.

Accounts Receivable Management

Controls invoicing and revenue receipts from users, government agencies, insurance companies, and any organization or individual, in accordance with the most recent legislative requirements. 

Generates all invoices for long-term and acute care, outpatient clinics, RAMQ, CSST, SAAQ claims, etc. 

Supports the institution in managing receipts, pre-authorized withdrawals and bad debts, printing receipts and deposit slips, managing refunds (including printing refund cheques), and more.

Accounts Payable Management

Automates invoice, rebate (taxes, federal and provincial self-assessments, related parties, etc.) and payment processing, in Canadian and foreign currencies. 

Issues payments through electronic funds transfer and electronic cheque deposits via an interface connected to financial institutions. 

Enforces of tax compensation laws. Prints cheques with electronic signatures and MICR ink. Makes it possible to change signatories according to organizational changes in your institution.

EDM – Financial and Material Management (FMS and MMS)

Integrates with Logibec FMS and MMS (Material Management System) 

Digitizes payable invoices using a character recognition and invoice processing automation system (PDF or paper) integrated into the same electronic processing and approval workflow as the EDI (Electronic Document Interchange). 

Features a digital invoice approval process and continuous monitoring, without purchase orders. 

Provides simplified access to digitized Accounts Payable documents to maximize discounts and reduce costs.

Fixed Asset Management and Centralisation of Registers

Integrates with Logibec FMS and MMS. Simplifies and centralizes management of the fixed asset register to standardize new item creation, work in progress monitoring, and depreciation and disposal calculations. 

Facilitates the production of financial reports and can drill down to source transactions. 

Developed upstream with the Project Management module to optimize the management of fixed asset projects.

Project Management

Integrates with both FMS and MMS.  

Allows stakeholders to plan and monitor the financial aspect of projects, regardless of their nature (fixed assets or other) over several fiscal years. 

Simplifies requests to backers to maximise cash inflow. 

Instantly monitors the progress of ongoing projects in various forms (includes one dashboard per project). 

Makes data available in real time to facilitate mining to source transactions. 

Provides centralized and refined management of the budget, commitments and financial implementation of projects. 

    In general, accounting staff is satisfied with the various aspects of the Logibec Espresso FMS suite. Those who use it most say that they have access to more information than with our previous solution.

     

    - Zilda Heusinkveld d’Avamere, Auditor 

More about Logibec

Clinical Redirection : A Step Towards More Efficient Emergency Rooms

Dec 18, 2019, 15:20 PM by Maxime Laliberte

Univalor selects Logibec as Licensee for the Innovative Emergency Redirection Solution Developed Jointly by the CIUSSS du Nord-de-l’île-de-Montréal and Dr. Alexandre Messier of Hôpital du Sacré-Coeur de Montréal.

Montreal, February 22nd, 2018 – Logibec Inc. (Logibec) has been selected by the university technology transfer organization Univalor, for the commercialization, distribution, implementation and improvement of the emergency redirection solution developed by Dr. Alexandre Messier of Hôpital Sacré-Coeur de Montréal (HSCM) and the Centre intégré de santé et de services sociaux du Nord-de-l’île-de-Montréal (CIUSSS du Nord-de-l’île-de-Montréal). The agreement focuses on quickly bringing this innovative tool to the health and social services market, in order to allow all organizations and patients to benefit from a more efficient emergency room experience.
 
Logibec ER Redirection tool is based on a unique and proven medical algorithm. Using a set of medical prerequisites, the solution identifies the patients who can be safely redirected to local partner clinics for treatment, rather than keeping them waiting in the emergency room. “Our goal is to identify patients with non-urgent health problems who can be treated outside the hospital. This improves the overall patient experience, optimizes emergency room efficiency and is key in reducing the number of patients who leave without being seen,” explains Dr. Alexander Messier, Emergency Physician at HSCM.
 
The tool provides triage staff with direct access to the availabilities of neighboring clinics and the ability to book an appointment for patients directly through the application. This also allows patients to be redirected to a clinic located near their residence or where their family doctor practices.
 
“This emergency reorientation tool is key in reducing overcrowding in our emergency departments, and is providing an improved experience for patients by helping them avoid long wait times for treatment. We are investing in the development and deployment of innovative technologies such as this because we believe they are vital to driving better patient outcomes and improved clinical and financial performance for our healthcare systems,” explains Marc Brunet, Chief Executive Officer at Logibec.
 
The project was piloted at the CIUSSS du Nord-de-l’île-de-Montréal, starting in 2015 at the HSCM and continuing in 2016 with Hôpital Fleury and Hôpital Jean-Talon. “On average, over 12,000 patients are reoriented every year. The use of the tool has proven to be very safe. We follow up with every patient that returns to the hospital. This allows us to better understand why a patient returns and thus perfect our algorithm over time,” explains Dr. Messier.
 

The project has already yielded noteworthy results: the HSCM recorded a 20-40 % decrease in overall emergency wait times for ambulatory patients, at implementation, and a reduction of over 15% in ambulatory visits. In addition, 95% of redirected patients agreed that this program should be implemented in all hospitals across the province.

 

About Logibec

For 35 years, Logibec, a portfolio company of GI Partners, has been offering innovative solutions paired with expert clinical and financial performance analysis that optimizes processes in the healthcare industry. Its software systems and consulting services are aligned with the current and future needs of healthcare facilities.

 

About CIUSSS du Nord-de-l’île-de-Montréal and Hôpital Sacré-Cœur de Montréal

With 26 health and social services facilities located in five boroughs in the northern part of Montréal, the CIUSSS du Nord-de-l’Île-Montréal is responsible for organizing and developing health and social services for the 436,000 Montrealers who live within its territory. It also provides specialized services to 1.8 million Quebecers in other regions, most notably in the fields of traumatology and respiratory care, cardiovascular and mental health. The CIUSSS du Nord-de-l’Île-de-Montréal is affiliated with Université de Montréal, and focuses on three main areas of research: social research, research related to the mental health of children and adolescents and biomedical research.
 

The HSCM is a university-affiliated hospital that became part of the CIUSSS du Nord-de-l’Île-Montréal in 2015. It is recognized as a supraregional patient care, teaching and research centre. In addition to the specialized services offered by the CIUSSS du Nord-de-l’Île-Montréal, the HSCM also provides tertiary orthopedics and bariatric surgery, both of which they specialize in.

 

About Univalor

Univalor is a university technology transfer organization that commercializes scientific findings and technological innovations emanating from some 2,600 researchers at the Université de Montréal and its affiliated health centres, Polytechnique Montréal and HEC Montréal, in the areas of pure and applied sciences, engineering, information technology, management sciences, life sciences, and human health. By creating links between the university and the business community, Univalor helps make businesses more competitive, generate revenue for research and, most importantly, enrich society.
 
 

Learn More About Logibec ER Redirection >

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