MedExec Produces Reporting Packages With the Touch of A Button

MedExec Accounting, Consulting and Development Services provides skilled accounting and consulting services to healthcare professionals in Littleton and nationwide. MedExec offers comprehensive solutions that create value and benefit practices across the nation.

Difficulties

Sean McHugh, CFO of MedExec, was searching for a solution to automate what had been a very tedious, manual reporting process. Unfortunately even in 2020, despite the existence of various solutions in the market, his search always came up short. He continued searching for a solution and thought to himself that he can’t possibly be the only one trying to pull regular data from accounting software that everyone in his niche was using. He felt that the reporting function of his software fell short of his professional expectations in terms of look and feel. His end goal was first to produce consistent, professional, and accurate financial statement compilations, ideally with the touch of a button. Second, he wanted to add valuable KPIs that he knew could be delivered over and above client expectations. His search for the ultimate solution finally came to an end when he found DataRails.

“Once everything is designed and the monthly data is submitted (two minutes max), the reporting package production is really a touch of a button process.”
Sean McHugh
CFO, MedExec

Solution:

McHugh saw the immense potential of pulling data from his general ledger details and slicing and dicing as needed with DataRails. He shares that “we had a functioning but cumbersome solution for the desktop version of [our] popular accounting software but nothing for the online version except manual processes. So that is where we started learning the DataRails system.

Because DataRails CPM software is so flexible as to work in any, and I mean any, situation it took a bit of a learning process to set things up for our tastes. That learning process was masterfully handled by our training representative who, after finding out our design requests, first quickly custom built what I had always wanted. Second, he went on to train us on how to build, adjust and replicate the process for multiple similar clients. The awesome part is that he continues to assist us in our rapid growth goals and is just simply available.”

McHugh shares that whatever their process was before, he estimates that it takes 10% of that to produce monthly work products with DataRails. Even if there is a hiccup (like a client adding an undisclosed account or the client changing data in a previously closed period) the system is so user friendly that he can, without the assistance of his customer success manager, quickly adjust, add, or modify on the fly, and this still only takes a small fraction of the time it used to take.

Outcome:

As DataRails uses only the most recent data submitted, loading newly corrected data from the general ledger for a previously finished monthly report helps McHugh ensure that numbers are up to date. McHugh shares that this is huge when dealing with SMB medical practices that seem to need to “adjust” prior periods no matter what the existing policy restrictions are. McHugh notes that he is very happy with DataRails. “Once everything is designed and the monthly data is submitted (two minutes max), the reporting package production is really a touch of a button process.

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