Customer Case Studies

Healthcare Strategy Group


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© 2019 Sage Intacct, Inc. All rights reserved. 877-437-7765 Company Overview HSG is a leading healthcare consulting firm that helps hospitals and other healthcare providers develop physician networks, optimize strategy and transition to value-based care. The company builds high-performing physician networks so health systems can address complex changes with confidence. Executive Summary Previous So ware: • QuickBooks Results with Sage Intacct: • Shortened days in A/R by nearly 25% • Reduced interest payments on line of credit by 17% • Doubled time spent on forward- looking analysis • Cut monthly close cycle in half Challenges Breaking Down Disconnected Data Silos to Drive Operational Efficiency Healthcare Strategy Group (HSG) is a leading healthcare consulting firm that helps hospitals and other healthcare providers develop physician networks, optimize strategy, and transition to value- based care. However, in recent years, its own financial workflows were hindered by tedious, error- prone workarounds for tasks like time and expense management, project billings, and monthly reporting. Since the company's QuickBooks so ware didn't integrate with its other systems, HSG consultants entered their time and expenses into AtTask, and then finance had to extract that data and enter it manually into both QuickBooks and a separate payroll application. Lisa Nicholson, HSG's finance manager, went in search of new financial management so ware with built-in resource management and project accounting. "We found Sage Intacct, and appreciated that all of our primary needs could be covered right in one, easy-to-use, cloud- based system. Now our consultants can log in from the field to enter their time, and Sage Intacct timesheets automatically capture job costing and everything else we need for reporting," she said. Nicholson was able to shi from spending 80 percent of her time on accounting tasks and only 20 percent on analysis, to now pu ing 40 percent of her energy towards forward-looking work that supports the business' strategic goals. Solutions Freeing Up Cash Flow with 25% Faster Client Payments With Sage Intacct, HSG dramatically accelerated its financial processes—saving time and money while gaining real-time visibility into the business. For example, since the system is easier to use, consultants spend less time on administrative tasks like entering time and expenses, which frees them up for more billable client work. In addition, HSG's finance team shortened their month-end close by half, and cut time spent on management reporting and bi-monthly billings by 20 percent each. This gives Nicholson more time to focus on analyzing operations and the overall health of the business. "Previously, it took three people three days to produce billings every two weeks. It was difficult to finish the job on time and there was always the chance that some billable hours got missed," Nicholson shared. "Now, it's streamlined in Sage Intacct and everything flows nicely from time and expenses into clear client invoices, so I can do billings quickly and accurately on my own. As a Professional Services Firm Increases Financial Analysis 2X Healthcare Strategy Group C A S E S T U D Y

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