Healthcare company grows with enhanced reporting and multi-entity capabilities

Entry-level accounting system hindered growth potential

Leaders at MyDocPlus couldn’t ignore the truth any longer. While the healthcare company was growing, that growth was being capped by their entry-level accounting software.

“As we expanded, our accounting needs quickly became a lot more complex,” said Kadidia Cooper, the company’s controller. “We wouldn’t be able to keep up with the accounting and finance side of things without hiring a bunch of people that we don’t have resources for.”

Like many small to midsized businesses, MyDocPlus started out using QuickBooks, which worked well when the company was composed of a single medical practice. But after the business grew to include five practices across two companies, things quickly changed.

User-friendly accounting software saves time

The root cause of the problems MyDocPlus was experiencing had to do with the fact that QuickBooks simply wasn’t designed for complex multi-entity accounting. The software required Cooper to set up a separate database for every location and physician, creating a ton of manual work while inhibiting efficiency.

“QuickBooks was becoming overwhelming in and of itself,” Cooper said. “I had to log in and out of companies all the time and log entries two or three times.”

As a company, MyDocPlus is focused on growth and acquisition on additional practices. As such, Cooper needed to have reports readily available for potential investors, allowing them to quickly and easily evaluate the business’ bottom line. But because of limitations in QuickBooks, it was impossible to run consolidated reports across all companies or drill down to evaluate the performance of specific practices or physicians.

“I basically did all our financial reporting in spreadsheets because I couldn’t get reports out of QuickBooks that were consolidated,” Cooper said. “We simply couldn’t access the data the right way to know if a doctor is costing us money or bringing in money.”

That lack of data visibility also meant that company leaders hadn’t updated pricing in over a year because they didn’t have the time and resources it would take to comb through all the data and fully analyze various offerings. With plans to add six to eight more practices in the coming year and gain market share in a rapidly evolving healthcare industry, the old way of doing things wasn’t sustainable and was inhibiting growth.

Disconnect between technology and needs

Cooper struggled to produce consolidated reports, didn’t have visibility into key profitability metrics, struggled to get answers to questions and wasted significant time on manual tasks. It all amounted to an inefficient accounting practice that required a change in technology.

“I needed to solve all these problems and wanted to integrate them into one system as much as possible because I didn’t want to manage a bunch of systems,” Cooper said. “We knew we had to upgrade our accounting system.” That’s when the company decided to make the switch to Gravity Software^® (Gravity).

“For us, the reporting feature alone is going to be a game changer,” Cooper said. “Without Gravity, we would not be able to hit our goals for growth in the next two years.”

By making the switch to Gravity, MyDocPlus saved significant time and achieved the data visibility they need to achieve strategic goals. By allowing accounting professionals to instantly generate reports across the entire organization, Cooper could now drill down into key metrics without wasting time manually sorting through data.

Cooper estimates it used to take a full day just to transfer data from QuickBooks to spreadsheets and another full day to run calculations and complete the report. But with Gravity, those same processes that used to take two full days every month can now be completed in a matter of minutes.

“Having Gravity and being able to lay everything out in a single report — even if it’s a really long report — where we can go through it line by line will be really helpful,” Cooper said. “It’s so nice for us to run reports so easily and organize them however we want to.”

Exceptional customer service provides support

Tasked with managing the company’s entire financial operations, Cooper knows how important it is to have the right accounting software functionality. But taking on everything independently makes it all the more critical to have fast, reliable support.

Cooper had worked with other popular accounting solutions in the past and often found the customer service experience quite lacking. Some providers will direct users to message boards for answers to important questions, and others simply offer a free 30-day trial as a way to become familiar with the software. But for someone as busy as Cooper, that simply wouldn’t work.

“I don’t have time to play around with a piece of software for 30 days and try to figure it out on my own,” Cooper said. “So, with Gravity, the ability to get a demo and ask questions and walk through it was so helpful.”

Cooper said the professionals at Gravity made it extremely easy to get up to speed by walking through a demonstration of the software and taking real time to give helpful answers to complex questions.

“It was just really nice to be working with someone who was there and available and who was flexible to work within my timeline,” Cooper said. “The whole implementation process was smooth and everyone I talked to was helpful and could speak knowledgeably to a range of different accounting issues.”

Looking to the future

The way people access and receive healthcare is changing rapidly. To keep pace in such a competitive and dynamic industry, MyDocPlus needs to be agile and employ innovative solutions that allow them to maximize productivity and efficiency. Cooper believes they found that solution in Gravity.

With robust accounting capabilities, a fully integrated CRM, business intelligence tools and more, Cooper said Gravity represents the kind of complete solution that will drive efficiency across the organization.

“I don’t have to add on modules or new systems as we grow. We already have access to everything, so I like that,” Cooper said. “Gravity will make us more efficient as a company, but also make our audits cleaner going forward.”

Company leaders expect MyDocPlus to continue growing and acquiring more medical practices in the coming months. Cooper said the totality of everything Gravity does will allow the company to achieve their goals and future-proof their operation for whatever lies ahead.

“I haven’t seen many products that are in the middle between QuickBooks and larger ERP solutions, but Gravity is the perfect in-between product,” Cooper said. “There are a lot of companies out there that are our size and I think Gravity would be perfect for them.”