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

The rise of digital platforms to support decision-making in the nursing sector

May 25, 2020, 05:48 AM by Lori Furey

Digitization of hospital processes represents a concrete and measurable approach to creating opportunities for automation and cost-containment across patient-based service infrastructures. Unfortunately, many hospitals and departments for that matter, are not equally fortunate and have yet to see technology optimize their processes.

Hospital managers consulting performance reports on schedule management

It’s about modernizing traditional models and creating new efficiencies

One of the pressing questions faced by hospital executives is how to solve quickly and cost-effectively the scheduling challenges that have compounded in the nursing sector over the years. These scheduling problems exist because correctly balancing all the rules and constraints of nurses’ schedules against the human variables behind them proves tremendously complex and challenging without access to the right decision-support tools.

New technology-driven solutions have started to emerge that could potentially solve some of those scheduling challenges that have far-reaching consequences, from nurses' work-life balance to resource management. Hospital management and healthcare executives have now access to innovative digital solutions that can help streamline nursing scheduling processes and allow nurses to focus on patient care rather than departmental staffing. These new management tools with robust data analytics can transform the nursing sector with process automation, web-enabled access and decision-support tools. Leveraging years of Canadian healthcare expertise, Logibec offers an educated perspective on nurse scheduling problems and provides the Canadian healthcare sector with a robust and effective staff scheduling solution.

 

Understanding the concerns of administrators and decision-makers

Much of the time spent by hospital administrators is set on minimizing administrative costs through containment of unnecessary events like overtime and absenteeism. In each of these situations, a hospital is forced to invest time and resources to address preventable workforce challenges that negatively impact its bottom line and ability to plan forward. Ideally, there should be an automated system that operates like a second set of eyes to oversee nurses’ schedules and minimize the occurrence of redundant activities and time-consuming checks and balances.

When a nurse doesn't wait for a request to be approved and calls in a last-minute change to the schedule, schedulers have to react as quickly as possible in order to prevent short staffing. This situation is frustrating because schedulers have to drop everything and make urgent changes without efficient tools to quickly find last minute shift replacements while keeping rules, such as seniority and who has the right skills for the shift, into consideration. There is a domino-effect on other processes impacted by this change and the cycle of inefficiency continues, perpetuation the problem of rising operational costs.

The need to take a step back and look at the larger overall picture and find an inclusive strategy to standardize nurse scheduling is now imperative. One method to achieve leaner operations is by automating processes to help reduce manual administrative work that is redundant and uneconomical. Doing this transforms the workforce management process into a single, accurate source of actionable data that is shareable and reportable. Decision-makers will benefit from reliable workforce information to understand trends, monitor performance, prevent unnecessary overtime and remember work preferences in order to deliver a more efficient working environment. By connecting schedules and requests management under one roof, everyone would benefit from a unified digital platform that streamlines the scheduling process in real-time while being able to monitor employee attendance at a granular level.

Free White Paper: Optimizing Staff Scheduling Efficiency for Directors

Logibec improves data-driven decision-making in the nursing sector

Transforming the nurse scheduling experience to benefit all the stakeholders at once, from nurses to hospital executives, is now something within hospitals’ reach. Logibec’s Scheduling & Analytics platform was designed to eliminate redundancies and provide accurate, relevant information at the right time throughout the many stages of the scheduling life-cycle. Hospitals can benefit today from a centralized and fully integrated scheduling system that provides all-in-one support and leads to better decision making. The system helps decision-makers mitigate the high costs structure associated with carrying out long-term planning based on trial-and-error and decreases the difficulties associated with accurately tracking employee attendance.

Logibec has made scheduling more efficient and accessible than ever for nurses and management teams alike. With a central platform, updated in real-time and accessible from a any web-enabled device, it offers an inclusive view of the nursing schedule with built-in notifications to always keep nurses informed of changes to their personal schedules. This leads to fewer instances of unnecessary overtime and staff shortages and offers more efficient communication channels making information accessible, in real-time.

 

A fully integrated scheduling solution that improves the employee experience

Providing quality patient care, made possible through reduced administrative burden, is the ultimate benefit of a unified scheduling solution.  Schedule management is transformed through digital and automated processes, decision-support tools, and advanced reporting and analytics that ensure schedulers and management have the right information, at the right time to make important decisions. Logibec Scheduling & Analytics helps improve budget control, collective agreement compliance and minimizes situations that could lead to overtime.  By increasing the autonomy of nurses with their schedule, changes can be requested via the application and approved, by the scheduler or manager, displaying an updated schedule for all employees affected.  The system thereby provides nurses with an improved employee experience, opportunities to achieve a better work-life balance and allows executives insight into real-time information and analytics to better guide strategic planning and growth.

Recorded Webinar: Improving Staff Scheduling in Canadian Healthcare

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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