Cost saving in the IDD industry has never been more critical. Because the IDD industry is sustained in part by local and federal government funding, the availability of funds can vary significantly based on the current economic conditions and changes in local and federal legislation. As a result, IDD agencies must be able to adapt their operations quickly and efficiently in order to maintain the quality of services they provide despite lower cash flow. This blog will discuss why a cost saving solution for IDD agencies is absolutely critical for maintaining quality services and compliance.
New Challenges in the IDD Industry Necessitates Cost Savings Solutions
Changes occurring in the IDD industry have urged many IDD agencies to take a second look at how they are handling their funds. Factors such as industry growth and fluctuation have had significant impacts on the IDD workforce alone. Further, many Vertex customers work with grant-funding and in tough economic times previous donors may not be as willing or able to make the generous donations as they have in the past.
Unexpected challenges like the current pandemic have wreaked havoc on cash flow, adversely impacting the IDD community. Now, IDD agencies must be more strategic than ever about where their money is going and how they are spending it. Factors like inaccurate reporting and data discrepancies can lead to unintentional overspending, which can in turn put immense pressure on an IDD agency’s budget. With all this in mind, your best defense is having a good offense. This means being able to control costs and maximize the revenue you are entitled to.
How IDD Software Like Vertex Paves the Way for Cutting Down on Costs
IDD software offers a number of functionalities that IDD agencies require to carry out tasks and remain within compliance standards. IDD software is designed to make data collection and processing as streamlined as possible for IDD agencies. This includes client and consumer payroll, as well as compliance documentation and billing. By automating these processes, IDD agencies can quickly adapt to any changes in funding or other external factors that would otherwise impact their bottom line.
Vertex’s comprehensive suite of capabilities offers IDD agencies the ability to not only improve workflows and reduce workloads, but it also remains entirely compliant with federal and state standards when it comes to billing and payroll. To exemplify, our Client Payroll Manager pays based on DOL 14C standards and can help prevent costly audit penalties. In addition to this, our Billing Manager software has useful tools to assist you in fully utilizing consumer service authorization notifications when the utilization “burn rate” is off track.
Why Vertex Systems
Vertex Solutions can help you minimize the time it takes to collect and process your data needed for consumer and client payroll, compliance documentation, and billing. Eliminate the time and expenses of multiple processing the same information for client payroll, service documentation, and billing. One time record satisfies all those needs and extra processing involved with paper record keeping.
Vertex’s cutting-edge IDD software was created with all your cost cutting needs in mind, so you can focus on providing quality services to your clients. If you’re looking for a way to streamline your IDD agency’s operations and save money, be sure to reach out to Vertex Systems’ solutions!
