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

Changing the status quo: Digitizing the nurse scheduling journey

May 8, 2020, 15:57 PM by Lori Furey

Controlling operational expenses and improving overall efficiency is a top priority for most healthcare organizations across Canada. However, to this day, there is still one particular operational sector where process optimization is still not fully integrated at an organizational level: Healthcare Sector.

Understanding the nurse scheduling problem 

Schedule management is a pivotal area where managers struggle daily to balance budget constraints against staffing needs to avoid unnecessary overtime and absenteeism.

Optimizing a hospital scheduling system brings tangible opportunities to streamline existing processes and automate administrative tasks. Prior to illustrating the technology solutions available to solve operational issues, it is important to understand the root causes that lead to inefficiencies and workflow inconsistencies, and how they impact nurses and schedulers alike.

 

The art of balancing personal and professional life

To better understand the challenges inherent to managing nursing schedules, it might be useful to first look at Sylvie, a full-time registered nurse with multiple personal and professional obligations. Sylvie expects schedulers and managers to look out for her well-being by complying with collective agreements and business rules, and ensuring that she has sufficient breaks and time off to support a good work/life balance. Unfortunately, even the best schedulers have a difficult time balancing out requests from nursing staff against the needs of their department.

Some of the constraints associated with creating an ideal work schedule for nurses are not optional parameters, but rather fixed requirements and rules that must be satisfied to establish optimal staffing every day. These requirements, like nurse-to-patient ratios, seniority, or maximum work hours, must be adhered to as they guarantee better cohesion among nursing staff, and reduce risks that impact patient care delivery. 

Creating nursing schedules and honouring requests within specific timeframes is very challenging in a fast-paced environment. Hospitals can have upwards of hundreds of nurses like Sylvie, depending on their size, and while managers accommodate as best they can, unexpected life events always occur. Due to the complexity and the high volume of communication between nurses, schedulers, and managers, scheduling requests can remain unaddressed leading to disruption in both personal and professional life. These occurrences mean that on multiple occasions, Sylvie and her colleagues might end up taking shifts and rotations that don’t meet their specific requests, violate union agreements, or create unnecessary overtime.

 

While addressing the needs of one nurse may require minimal time and complexity, it's managing of the sum of the requests from multiple departments, even an entire hospital, that becomes problematic. Schedules that don't adhere to collective agreement rules and don't correspond to nurse availability preferences or result in overtime can lead to burnout, stress, emotional exhaustion, headaches, and other physical symptoms. Together, these factors risk compromising patient care and staff safety. A poorly planned schedule has consequences that go well beyond simple logistics.

The nursing profession is a mentally, emotionally, and physically taxing job. Adding unnecessary scheduling related stressors hinders a nurse’s ability to meet professional and personal obligations. When dedicated employees like Sylvie feel stressed or overworked, they are unlikely to perform their best, greatly increasing the risk of absenteeism and employee turnover.

 

Communicating effectively is at the heart of the scheduling issue

Inconsistent and unreliable channels of communication also contribute to the challenge of meeting the varied requirements that successfully shape a nursing schedule. Sylvie and her team have difficulty communicating scheduling requests or availability preferences and have almost no guarantee of seeing them applied or receiving a timely follow-up on pending approvals. There are too many channels by which scheduling requests come in. Schedulers have to follow up on texts, voicemails, direct messages and emails, along with written notes and in-person queries. Hampered by clerical and administrative tasks, schedulers struggle to keep up with requests.

The inability to communicate scheduling changes and share information effectively makes it difficult to provide an accurate real-time schedule. Schedulers, like head nurses or assistants, are sometimes unable to update schedules promptly. It is a manual process that requires time and concentration to avoid allocating uneven workloads and inadvertently impacting patient care. For Sylvie, a non-transparent and poorly planned schedule has consequences forcing her to reschedule personal responsibilities or take on extra hours after long shifts.

In the end, these preventable situations exist only because of inefficiencies in manual scheduling processes. It also systematically undermines the dedication of hard-working nurses like Sylvie who wish to follow proper protocol. Time and again, nurses have to go through a complicated and unclear scheduling process that simply can’t handle their requests. In an ideal world, nurses communicate their special requests and share availability preferences in a clear and efficient manner through a unified system that can process them automatically and update master schedules in real-time.

 

A novel solution to the nurse scheduling problem

Logibec has developed a fully integrated staff scheduling solution that streamlines communication and automates requests while honouring various budgetary, regulatory, and availability requirements. 

Logibec’s Scheduling & Analytics solution is specifically designed to manage the complexities of Canadian healthcare staff scheduling. It offers a holistic view of the nurse scheduling process in a way that saves hospitals time, money, and administrative resources. Logibec’s digital solution helps nurses like Sylvie avoid unnecessary and unplanned overtime, find a perfect work/life balance, and assures patients always comes first. The system instantly recognizes conflicts and automatically knows which employees to prioritize. It offers hospitals an organized, professional, and adaptable digital scheduling system that eases the strain of scheduling on nurses, schedulers, and managers alike.

 

Centralizing communication and automating schedule management

Hospitals now have a singular point of contact for nurses, schedulers, and administrators that’s accessible from desktops to mobile devices. The system creates a communication highway eliminating the need for other channels, and replaces them with a single scheduling tool that is web-enabled and accessible in real-time. Logibec Scheduling & Analytics decreases unnecessary overtime, reduces absenteeism, automates shift replacement, and helps build trust by cultivating more transparency between nursing staff and schedulers. 

In today’s tech-driven era, it is imperative to leverage the power of an all-in-one digital scheduling solution to minimize administrative strains on hospital resources, and help nursing teams achieve a greater work/life balance. Our research shows the impact on the bottom line is enormous, and the positive effects on employee retention and turnover rates are undeniable. More important are the less tangible benefits. A healthy and productive nursing staff performs better when they are empowered by their management teams to deliver consistent high-quality patient care.

 

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.

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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.

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