Sunwave’s Financials module offers a solution for the accounting needs of treatment centers. Whether you’d like reports for management to receive insights that drive better decisions or need to share financial health with lenders or investors to secure additional capital for future growth—the Financials module can help.
Even if you have an accountant or third-party financial management firm for your behavioral health facility, you can realize tangible benefits from our unified, data-driven software platform. Addiction treatment accounting is just one part of the behavioral health treatment journey Our unified, data-driven software platform incorporates all the tools needed for behavioral health, including electronic records management, customer relationship management, revenue cycle management, and more!
Reach out to Sunwave Health today toschedule a demo and learn how we can help your treatment center remain competitive and profitable.
Sunwave Health: More Than Just Behavioral Health Accounting
Let’s explore some of the features of Sunwave’s comprehensive financial solution for behavioral health providers.
Secure and Reliable
Security and privacy are a primary focus for Sunwave—every module in our platform is HIPAA compliant and hosted in the cloud with redundancy for maximum reliability.
Easy-to-Use
Your team members will love the workflow kanban board, which provides a unique bird’s-eye view of where your opportunities are in the funnel.
Accounting Periods
Define periods to match your company’s financial calendar—whether that’s monthly, quarterly, annual, 4/4/5 weeks, or any other custom period structure.
Chart of Accounts
List your company’s general ledger accounts. Here you can define the name, the record type of charges (credit or debit), and any GL segmentation rules.
Behavioral Health Accounting Has Never Been Easier
Sunwave Health’s management tool and Financials Module gives your facility the advantages it needs to manage and report on accounting activities effectively.
The Financials Module is a comprehensive solution that houses your general ledger, chart of accounts, credits, and debits. With automation built-in and customizable rules, your team can produce a clear picture of your facility’s financial health at any point in time.
General Ledger Segmentation Rules
General Ledger (GL) segmentation rules determine which transactions are applied to an account. These rules contain transaction types such as:
- Claims
- Adjustments
- Payments
- A set of segments
Segments are defined by your team based upon how your accounting system expects accounts to be summarized.
Automated Adjustments
For treatment centers to look at balances on an accrual-based system, adjustments will need to be applied, and Sunwave helps make that easy for your team.
- Auto-apply adjustments based upon the payer’s contracted rate
- Configure auto-adjustments based upon the historical reimbursement percentages received by a particular payer
- Create custom rules for auto-adjustments based upon your knowledge and experience with specific payers
Journal Run and Period Closed
With Sunwave Financials, your team can execute a Journal Run at any given point in time.
- Present a list of all transactions that have not been posted to an account, as well as any adjustments that were posted in prior periods, and run a trial balance
- Review and verify all the transactions for the period prior to the period close
- Get a clear picture of your company’s financial health
Choose Sunwave Health for your Behavioral Health Accounting Needs and More!
The behavioral health industry is becoming an increasingly crowded and competitive space. You need every advantage to manage your facility or treatment center’s financial health in this increasingly tight space. With our unified, data-driven software platform, we provide a competitive advantage that will improve financial efficiency and, ultimately, patient outcomes.
Choose Sunwave Health for all your financial and accounting needs, as well as CRM, EMR, billing, and more. Contact us today to learn more and schedule a demo!
