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How technology streamlines financial processes in long-term care

By Kim Kling, Senior Director of Finance and Cory Sills, Director of Technology, at Covenant Village, a full-service, nonprofit Life Plan Community in the North Carolina Piedmont. 

This information was originally featured in one of our podcast episodes. We thank Kim and Cory for participating and sharing their experiences with MatrixCare Enterprise Financials (EF) solution.

Challenges and pain points

Just two years ago, we were having a lot of issues with our financial processes. The software we were using simply wasn’t designed for the senior living industry or post-acute care. It didn’t do everything we needed it to do. In fact, we had outgrown the software a long time ago. Using it was like trying to make a square peg fit in a round hole.

Our system was complicated further with an array of manual processes, Excel spreadsheets, inadequate financial reports and no actual true month end close process in place. It was clear we needed to find a software solution that would solve our immediate issues while preparing us for future growth. 

Finding a better solution

After demoing other software in the post-acute care sector, we found that MatrixCare was the only one that stood out by far. Of the many key attributes and capabilities their EF solution offered, the one we liked the most was its user-friendliness. The demo modeled so much of what we were already doing – but we were doing it manually and using spreadsheets.

We also really liked EF’s ability to grow with us as we expand and add more service lines and features – not just Enterprise Financials but the Elite and RetailTracker as well. The ability to have all that under one roof whenever we were ready to make that leap was a big attraction from our perspective.

The implementation experience

From an IT perspective, it was seamless. MatrixCare walked us through everything that we needed to do. The training was smooth and professional – and if we ran into an issue, they were right there to answer our questions and help us out. For the finance team, it was also a great implementation experience.

Favorite improvements: time and cost savings

Now that we’ve been using EF for a while at Covenant Village, the features we like best are found in the resident profile. It’s easy to calculate entrance fees and create an ACH file for drafting residents’ payments. We no longer have to keep an Excel spreadsheet for our entrance fee amortization or do double entries for drafting and posting our resident payments. Workflow efficiency, in general, is much improved.

Enterprise Financials has also helped eliminate a lot of redundancy and repetition of data. It was wasteful for the nursing, admin and dining staff to each have their own set of data on residents. Now, it’s all in a single area so one person can add all the information on the residents and then the other department can access that resident and then build upon it. In fact, the solution has created numerous efficiencies throughout our organization. We no longer have to create custom reports for example – they’re all automatically generated by MatrixCare.

Another feature we love is the capital project cost tracking. We did not have anything like that before. Now we can make sure that we’re staying within budget on capital projects. Another quantifiable improvement is the time saved in creating all the month-end financial statements and reports for all of our various departments.

Timewise, we have gained at least one day back to be able to focus on other functions such as our strategic master plan.

Eliminating the many manual processes have benefited us in other ways, too. The software has enabled us to combine accounts payable and accounts receivable into one position. That has been a huge cost savings for us.

Users’ experiences: thrilled

The EF implementation has led to better collaboration, improved efficiencies, reduction of manual data entry, getting everybody on the same page and giving us more time to concentrate on the strategic work that can advance our business.

Feedback we are getting from our users is that everyone seems to like it and some are even “thrilled.” Reaction has been so positive we are now rolling out the MatrixCare Elite version – for more efficient documentation and improved patient-centered care on the clinical side.

Further enhancing the experience

Looking ahead, there are a number of untapped functionalities and features we are keen to  implement to further enhance our experience. First up will be utilizing the construction and progress module so we can track the cost and do the appropriate accounting necessary when we begin our expansion, Then, at some point, we may also bring in the fixed assets module to use in-house. Currently, our auditing firm handles our fixed asset tracking for us. That is a function that we definitely want to look at in the future.

Support that goes above and beyond

The overall support we’ve received from MatrixCare has been great. They keep checking back to make sure all is running smoothly and that we are happy. We are really appreciative of that.

Here’s an example of superior support in action. When we recently needed a report in a different format,  EF’s  customer service team set up the entire format for us. They then called back and showed us how to run the report using the alternate format feature.

It seems everybody at MatrixCare goes above and beyond in their service to us. We look forward to continuing our relationship with them.

Thank-you Kim and Corey for sharing your insights.

Contact us to learn more about how our comprehensive, integrated Enterprise Financials solution can make it easier to manage day-to-day accounting tasks and help you focus on strategically advancing your organization.

See what MatrixCare can do for you


MatrixCare provides an extensive range of software solutions and services purpose-built for out-of-hospital care settings. As the multiyear winner of the Best in KLAS award for Long-Term Care Software and Home Health and Hospice EMR, MatrixCare is trusted by thousands of facility-based and home-based care organizations to improve provider efficiencies and promote a better quality of life for the people they serve. As an industry leader in interoperability, MatrixCare helps providers connect and collaborate across the care continuum to optimize outcomes and successfully manage risk in out-of-hospital care delivery.

MatrixCare is a wholly-owned subsidiary of ResMed (NYSE: RMD, ASX: RMD). To learn more, visit and follow @MatrixCare on X

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