As you might know, the Health Insurance Portability and Accountability Act (HIPAA) is a set of federal privacy regulations created to ensure the security and confidentiality of medical records. One major component in providing this security is a system for recording payments.
Since HIPAA encrypts the transmission of all patient data, there are special requirements for information used in billing, which must be kept confidential. Therefore, when choosing accounting software, make sure to find the best HIPAA-compliant accounting software as this offers significant benefits for any business or nonprofit organization.
Our Top 5 HIPAA Compliant Accounting Software
Best HIPAA Compliant Accounting Software Reviews
1. Best Overall: Sage Intacct
Sage Intacct is HIPAA-compliant accounting software that offers a host of features for professionals in all fields. If you’re looking to track your expenses, forecast future costs and profits, manage sales forecasting, and optimize payroll services, then this is your product.
With Sage Intacct, you’ll be able to automate time-consuming and expensive processes so that you can focus on your most important tasks. The software is also compatible with any Sage Enterprise accounting package, including the new ProView.
Sage Intacct is available in many languages and installed on Windows, GNU/Linux, and Mac OS 9 operating systems. The software gives users access to all of their business data from one place. It supports electronic filing tax returns and data capture that enables companies to keep track of expenses and profits without using spreadsheets or other complicated tools.
2. Best for Health Practitioners: Cliniko
The Cliniko software leads the way in HIPAA-compliant accounting software because it can be accessed anywhere, provides accurate reports, and ensures complete privacy. Cliniko is one of the few tools that can guarantee complete security to your data, providing peace of mind that any other computer or program cannot match.
Cliniko provides complete information of every patient, cost, and more in a simple way that is easy to understand. The increased efficiency allows a doctor to do more in less time while the greater security permits the client to feel safe in all situations.
3. Best for Growing Businesses: SimplePractice
SimplePractice is HIPAA-compliant accounting software that can help entrepreneurs manage their business finances. We recommend it for small businesses, but it can also work for start-ups if they get off the ground. This product offers many features that give you control over your finances and time, giving you peace of mind and satisfaction knowing everything is under control.
There are many things to like about this product:
- First, it has automatic importing from your bank account to keep track of your money.
- It has online appointment scheduling to make appointments with your customers and just let them go online to book a time.
- And it has automatic reports of your finances, so you don’t have to worry about forgetting something or losing important documents.
This product is definitely worth the price. It’s a simple and intuitive user interface, which makes it handy for managing small business finances.
4. Best Customizable Option: TheraNest
The TheraNest is a cloud-based HIPAA compliant software plan that helps businesses start and grow with their accounting needs. In addition, TheraNest enables businesses to streamline and consolidate their operations by assigning team members, sales forecasting, and more.
TheraNest Key Features
- Ease of Use – Access from anywhere with an internet connection means less time spent recruiting new team members or dealing with difficult computer systems.
- Security – HIPAA compliance means the utmost security is ensured.
- Reporting – The ability to see up-to-date information at the touch of a button is possible with TheraNest software.
- Sales Forecasting – The TheraNest allows users to get a proper understanding of their sales potential based on historical data.
- Projection Planning – Users can create custom projections for their business by entering specific details about their business, such as expenses and revenue.
- Task Management – A powerful task management feature that allows team members to stay on target with all assigned tasks, no matter where they are or what they’re doing.
5. Best Customer Support: Solutionreach
Solutionreach is one of the best accounting software packages that I have used. In addition, it is HIPAA compliant to help with any compliance requirements that you may have.
It has a lot of features as well. You can get everything from time tracking, invoicing, and expense management to regular accounting reports like profit and loss statements. They also have a great mobile app for iOS and Android devices so you can manage your business on the go. If you are looking for an accounting software package that will keep up with all your needs, give Solutionreach a try.
Buyer’s Guide
Knowing what to expect from a HIPAA compliant accounting software starts with knowing what is meant by compliance. Any software designed to comply with HIPAA standards must meet several requirements, including encryption of data and password-protected access. However, you can also choose from several different levels of compliance when purchasing software.
How To Choose HIPAA Compliant Accounting Software
When selecting HIPAA-compliant accounting software, make sure that it has all the features you require for your business before making your final decision. Some accounting programs may be better suited for smaller organizations, while others may work well with larger companies or organizations. If security is your primary concern, be sure that the program offers high levels of protection from unauthorized access or modification of information.
A HIPAA-compliant accounting system will have all the features that a business or non-profit needs to ensure the secure storage and transmission of confidential medical information. These features can include:
- The ability to communicate securely with other computers.
- Security for storing records and data.
- A means of creating reports for any records stored.
FAQ
What Is HIPAA Compliance?
The Health Insurance Portability and Accountability Act of 1996 (HIPAA) establishes security and privacy regulations for personal health information. HIPAA includes four significant sets of provisions: Administrative Simplification, Protecting the Privacy Rights of Individuals, Security Standards for Protection Against Unauthorized Disclosure or Use, and Enforcement Rules.
What Accounting Software Is HIPAA Compliant?
In reviewing this article looking for an accounting program that is HIPAA compliant, we found several different programs on the market today. Below are just a few of them:
– QuickBooks Online.
– Open Financial Exchange.
– Open Applications Lifecycle Suite.
– Online Accounting Software.
Is Quickbooks HIPAA Compliant?
Yes, QuickBooks is HIPAA compliant. This is a software program that tracks businesses’ expenses and income to create accurate reporting. It also calculates tax liabilities for your business and generates detailed reports on your company’s financial health.
