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.

Request a Demo

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

COVID-19 | Why Increasing Nurses' Autonomy with Staff Scheduling is So Important, Especially During a Pandemic

Apr 27, 2020, 13:52 PM by Lori Furey

Well-balanced hospital staff scheduling is critical to ensure a safe and productive working environment, especially in times such as the COVID-19 pandemic where resources are stretched thin, and patients’ needs are greater than ever.

COVID-19's effect on Canadian healthcare centers generates considerable uncertainty and stress for all front line staff. In an interview with Global News, Vicki McKenna, a registered nurse and provincial president with the Ontario Nurses Association, said that "There are so many things that seem to be unknown, and so [nurses] are doing their very best with what they have, the information they have and the high anxiety level of their patients and the patients' families."

While patients are nurses' first priority in their professional and ethical framework, The Canadian Nurse Association's Code of Ethics clearly states that nurses have moral obligations to their own well-being in order to provide the best quality of care to their patients.

One advice given by mental health professionals for nurses is to take the time to unplug. Cynda Rushton, a professor at the Johns Hopkins School of Nursing and Berman Institute of Bioethics, stated that "nurses in every role are impacted. They're being asked to work in areas of the hospital that aren't their normal specialty. [...] They're being redeployed to learn new skills and take new roles". These changes caused by the pandemic are an enormous source of stress. One way to facilitate nurses' self-care and to handle the uncertainty is to provide more autonomy with their work schedules.

Autonomy plays an important role in job satisfaction and retention; for nurses, this not only pertains to patient care but also to schedule management. With automation and digitization of scheduling processes, it is now possible for hospitals to increase shift flexibility and ensure favorable working conditions for their nursing staff. Providing nurses with control over their work schedule is paramount, both for the nursing staff and the healthcare facilities that employ them.

Well-balanced employee work schedules also become critical to ensuring a safe and productive working environment, especially in times of emergency such as the COVID-19 pandemic where resources are stretched thin, and patients’ needs are greater than ever.

 

How an Automated Scheduling Software Can Help Healthcare Organizations during a Pandemic 

 
IMPROVED WORK-LIFE BALANCE

Increasing nurse's autonomy in their scheduling practices is crucial to help nurses balance their work schedule and their personal life effectively. Unfortunately, it is still common for some management teams to draw up schedules manually. This process is rigid and provides little to no flexibility for the nursing staff to make changes to their schedules in order to balance their personal lives with work.

It was reported by Global News that "The emotion is high, the stress is high. And some of [the nurses] said the day goes by, or the shift goes by, and they just feel empty by the end of it." With the high professional and emotional pressure triggered by COVID-19, it is important to allow nurses to increase their autonomy with their schedule. It can be achieved letting them perform key tasks in their scheduling process, such as specifying when they’re available for additional shifts or swapping shifts with a colleague without a burdensome manual process. This could help the nursing staff have enough time to tend to their mental health and personal lives, and get much-needed rest.

 

DIGITIZED SCHEDULE MANAGEMENT

With COVID-19, the situation in a hospital can evolve rapidly. To increase nurses' scheduling autonomy, hospitals and care institutions could provide their staff with access to digitized schedules that are always up-to-date and reflect the latest changes made.

Modern scheduling software gives nurses complete and real-time access to their schedules. As a result, they have all the information they need to manage their daily programs autonomously. These systems are often available as web-based applications that nurses can access via their mobile devices.

Hospital unit managers are, therefore, able to streamline administrative tasks and provide nurses with access to a work schedule that is updated in real-time and always accurate. With notification and alert features, management teams can ensure that employees are notified, and assigned shifts are covered.

 

STREAMLINED COMMUNICATIONS

Filing personal requests is not a transparent process everywhere. Nurses do not always know whether Human Resources received their requests or if there are delays in processing them.

A hospital staff scheduling solution should, ideally, have a single communication platform for administrators, nursing staff, and its management team. Nurses can use this software to make requests like shift changes; then, they can follow their requests on the same platform when management receives them.

Messaging on these platforms is also instantaneous, which means a nurse can send a shift request via text or auto-call and receive a response within minutes. Even in the unforeseen circumstances brought by COVID-19, playing an active role in their scheduling, and receiving timely communications about it can contribute to a certain level of peace of mind for nurses.

Hospital management also benefits significantly from centralized communication channels, as they help eliminate unnecessary administrative burdens and reduce operational costs.

 

RESPONSIVENESS TO LAST-MINUTE CHANGES

Increasing nurses' ability to manage their work schedules autonomously, with self-service tools, enables more agile responses to last-minute changes. Because nurses are actively involved in their scheduling, they no longer have to wait for manual management approval before making changes, which saves time and helps avoid schedule conflicts.

Responsiveness to last-minute changes prevents staff or skill shortages and helps maintain up-to-date schedules for everyone. The increased workload assumed by nurses across the country during the COVID-19 pandemic demonstrates the need for hospitals to develop agile responses to unpredictable medical situations. By increasing nurses' autonomy with their schedules, it becomes possible to ensure sufficient staffing levels, even during difficult times.

 

IMPROVED EMPLOYEE SATISFACTION 

Healthcare professionals tend to have higher job satisfaction when they feel their voices are being heard. The benefits discussed above clearly contribute to increasing nurses' satisfaction towards their working environment through improved work-life balance, clearer expectations, and increased flexibility, which also hold true in a pandemic context. Nurses that play an active role in their scheduling are also more likely to adhere to their schedules.

In short, increasing nurses' scheduling autonomy can lead to increased satisfaction, enhanced productivity, more accountability, and an improved sense of organizational culture within hospitals and care institutions. In the nursing field, autonomy relates to the ability of a nurse to make operational and clinical decisions based on his or her experience and expertise. More importantly, there is evidence that "greater nurse autonomy [is] associated with lower mortality and failure to rescue rates" for their patients.

 

Intelligence & Analytics

Have access to predictive scenarios and strategic recommendations based on your healthcare facility’s Big Data to support your daily decisions and drive the achievement of your operational objectives related to patient services quality and efficiency.

Details

Continuum Health

Optimize the patient journey at every stage of the care trajectory with in-depth analytical reports and real-time visual representations of objective achievement through performance indicators presented in a single, user-friendly interface.

Details

Need a Customized Solution?

Explore the different possibilities offered by Logibec with its range of technological solutions and discover a team of consultants dedicated to helping you optimize your hospital processes.