BTerrell connects HCFS with a performance driven ERP solution
“ We feel like we have the best arrangement possible—
a leading cloud-based ERP backed by a strong local support team."
Healthcare billing management provider improves efficiency and visibility throughout the organization.
In the rapidly changing healthcare landscape, it takes a company with innovation, efficiency and a commitment to continual improvement to succeed. HCFS, Inc. exemplifies those qualities. HCFS provides hospitals with eligibility assurance and cost-recovery services on behalf of low income and uninsured patients located throughout the United States. As the company grows and adapts to the marketplace, it continually invests in the technologies that help it improve its service offerings. As part of that initiative, HCFS engaged BTerrell to replace its legacy Sage 300 application with Intacct, a new, modern, best-in-class and powerful cloud-based business management solution.
Curing a lack of visibility
Access to timely and actionable data enables companies to quickly react and respond to anomalies and trends. HCFS lacked this vital element. “We needed better visibility into our corporate data,” recalls Tim Nese, CFO for HCFS. “We wanted to provide real-time reporting to our managers, enabling them to make faster and more informed decisions.”
To bring together the necessary reports, Nese and his team often had to create each report manually in Excel, then print the reports to PDF, email them to management and store the copies for future reference. It was a time-consuming, redundant and potentially error-prone process.
HCFS found a solution in the powerful reporting capabilities of Intacct. “We have a number of custom reporting requirements, and BTerrell worked with me to create the first of those reports, teaching me the process,” explains Nese. “I then had the necessary knowledge to create the balance of the reports our team needs. BTerrell gave me the tools to be self-sufficient going forward, and I appreciate that.”
In addition, BTerrell showed HCFS how to create dashboards to deliver financial data and key performance indicators to staff in real time. Users can drill down to the source documents directly from the dashboards, speeding and simplifying access to decision-making data.
Simplifying a complex chart of accounts
HCFS faced another challenge—an overlycomplex chart of accounts. “With the multisegment account structure in Sage 300 representing attributes like state, region and department, we literally had to create 60 new revenue and expense accounts every time we won a new customer,” says Nese. “In addition to the extra amount of effort this entailed, it also complicated reporting as we tried to parse out the accounts by segment to get to the underlying data we were after.”
BTerrell showed HCFS staff how they could leverage dimensions in Intacct to vastly simplify and streamline its chart of accounts. “By using dimensions to represent attributes like state and region, we shortened our general ledger account number from 11 digits to four,” notes Nese. “Plus, we no longer have to create an array of new account numbers when we add a new customer.”
Streamlining expense management
Previously, HCFS staff spent a significant amount time collecting and processing corporate expense data. “We tracked employee expenses and corporate credit card spending in spreadsheets that staff routed from payables, to employee, to manager and back to the payables department,” explains Nese. “It was so time consuming, in fact, that it took us over a week after period end to complete the process.”
BTerrell recommended a third-party expense management solution, Nexonia, that integrates with Intacct. With Nexonia, employees can simply snap a photo of their receipts and upload receipts to attach to their digital expense reports – right from their mobile devices. “We cut the time spend on expense management in half,” says Nese. “That’s time our team can spend on more strategic tasks than shuffling paper.”
Partnering with a strong local team
With its migration to Intacct, HCFS has a powerful, modern business management solution on which to grow its operations.
Nese credits BTerrell for the smooth transition and for their continuing expertise. “BTerrell is responsible, knowledgeable, thorough and very experienced,” he concludes. “We feel like we have the best arrangement possible—a leading cloud-based ERP backed by a strong local support team.”