Customer Case Studies

© 2019 Sage Intacct, Inc. All rights reserved. www.sageintacct.com 877-437-7765 Company Overview With over 30 years of experience, HCFS bridges the gap between patients and hospitals in the ever- changing healthcare landscape. The company uses advanced technology with an emphasis on patient advocacy to help hospitals and health systems recover costs through scrubbing, screening, and prompt pay remi ance. Executive Summary Results with Sage Intacct: • Improved margins 6% through hospital-level profitability insight • Reduced budgeting cycle 60% to speed planning • Accelerated financial close by 80% • Doubled finance team productivity Challenges Curing a Lack of Efficiency and Visibility with Powerful Financial So ware HCFS, Inc. provides 150 hospitals in 14 states with eligibility assurance and cost-recovery services on behalf of low income and uninsured patients. As the company grows and adapts to the rapidly changing healthcare landscape, it continually invests in technologies that help improve its service offerings. As part of that effort, HCFS decided to replace its legacy accounting system for more powerful, cloud-based financial management. By moving to Sage Intacct, the organization was able to cut its overall accounting workload in half, speed its monthly close by 80%, and improve margins 6%. HCFS's management team is equipped with real time profitability dashboards and can make decisions to effectively run their business. For example, they can now calculate the ROI of adding an incremental FTE. Previously, HCFS lacked vital access to timely and actionable data. The finance team created monthly reports manually in Excel, converted them to PDFs, and filed six inches worth of paper copies every time they closed the books. It was a time-consuming, redundant, and potentially error-prone process. "We needed be er visibility into our corporate data," recalls Tim Nese, CFO at HCFS. "We wanted to provide real-time reporting to our managers so they could make faster and more informed decisions." With help from Sage Intacct partner BTerrell, the company found and migrated to the modern, best-in-class solution in 2016. Solutions Efficient Accounting Processes Cut Finance Workload 50% BTerrell helped HCFS leverage the dimensions capability in Sage Intacct to vastly simplify and streamline its chart of accounts. "In order to track a ributes like state, region, and department in our old system, we had to create 60 new revenue and expense accounts every time we won a new customer. In addition to the extra effort, this complicated reporting as we tried to parse out the accounts to get to the underlying data we were a er," said Nese. "By using Sage Intacct dimensions to represent a ributes like state and region, we shortened our general ledger account numbers from 11 digits to four, and freed up report preparation time to spend on analyzing the data." Another major time savings came through HCFS' streamlined expense management and accounts payable (A/P) process. The A/P manager used to spend nearly the entire month just Healthcare Accounts Receivable Management Provider Improves Margins 6% and Productivity 100% HCFS, Inc. C A S E S T U D Y

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