How MediSolution’s Virtuo MIS empowers organizations, teams, and professionals in their daily efforts to provide quality care, throughout Canada.
By the Virtuo MIS Business Analysts team*
The Canadian Institute for Health Information (CIHI), describes MIS Standards below:
The Standards for Management Information Systems in Canadian Health Service Organizations (MIS Standards) are a set of national standards for gathering and processing data and for reporting financial and statistical data on the day-to-day operations of a health service organization. The MIS Standards include:
These national standards help to improve the effectiveness and efficiency of Canada’s hospitals and long-term care and residential care, home care, community health, primary care and public health organizations. Ministries of health report detailed financial and statistical data, generated with the MIS Standards, to CIHI’s Canadian MIS Database. Data collected and reported based on the MIS Standards
MediSolution’s Virtuo MIS is a complete Enterprise Resource Planning (ERP) software solution. It comprises the Human Capital Management (HCM), Finance Management (FMS), Supply Chain Management (SCM), and Accounts Receivable (AR) suites. Virtuo MIS provides public and private services organizations with a reliable integrated solution that enables their teams to manage Human Resources, Financials, Supply Chain, and Accounts Receivable efficiently and accurately.
In regards to Canadian Health Care organizations, Virtuo MIS is compatible with the latest MIS Standards ensuring the organizations’ compliance with CIHI’s requirements increasing efficiency, transparency, and accuracy.
In particular, the Virtuo MIS Finance Management suite offers solid business process logic, cutting-edge functionality, total integration, and an all-inclusive range of easy-to-use features. Virtuo MIS FMS makes finance teams more productive and processes more efficient by automating and integrating day-to-day accounting and financial events, freeing resources to tackle data analysis and strategic budgeting, planning, and management issues.
General Ledger is the heart of the Virtuo MIS Finance Management suite. It gathers data from across all suites to help teams create, import, and report financial and statistical data. With a powerful chart of accounts, finance specialists have the ability to build their own major and secondary coding and track any financial and statistical data in Virtuo MIS. General Ledger features a multi-user, multi-fund, and multi-site functionality that allows teams to report funds and facilities as individual units or as part of a larger entity. This functionality contains a statistical ledger that matches all features offered with the financial general ledger.
The General Ledger Chart of Accounts is compliant with the MIS Standards, as set by CIHI, for financial and statistical reporting. The national MIS Standards dictate what each segment of the chart of
The Funding Agency Report incorporates the facility and sector codes assigned to each hospital by their provincial body and allows them to be flexible in regards to the level of detail they wish to use for internal financial and statistical reporting. The report shows values with the standard level of detail defined by CIHI. Standardized reporting allows for comparative reports across all hospitals in Canada.
The other area within Virtuo MIS that uses the MIS Standard is the Asset Management system. Asset Management fully automates the management of fixed assets (depreciable and non-depreciable; capital and non-capital) through the complete asset lifecycle – from acquisition to disposal – to reduce manual effort and increase efficiency. Compliant with MIS Standards, Asset Management incorporates the list of standard useful life by type of asset, to be used for amortization of capital assets.
Organizations and professionals in hospitals, long-term care, residential care, home care, community health, primary care and public health organizations, throughout Canada, use Virtuo MIS daily to offer high quality services, in compliance with CIHI’s MIS Standards, and be empowered by having a clear and concise view of all Human Capital, Finance, Supply Chain, and Accounts Receivable information.
*with additional information from the Canadian Institute for Health Information.