Health care firm migrates to the cloud
Founded in 1998, Healthx is one of the first health care technology companies to offer cloud-based solutions for member engagement and provider collaboration.
Over 150 payers across the U.S. use Healthx technology to provide self-service web-based solutions for their members and providers, resulting in approximately 16 million member logins and more than 9 million logins by providers. Their client base is comprised of Medicare, Medicaid, Third Party Administrators (TPAs), commercial health plans, and commercial carriers.
With the responsibility of helping clients serve their members efficiently, the pressure is always on at Healthx to be as effective as possible. While cloud-based data storage is becoming the norm, finding a reporting solution capable of utilizing data directly from the cloud has proved difficult. Without a cloud-based reporting solution, Healthx was forced to hard code data into Microsoft Excel to develop financial reports.
The need to more efficiently provide financial statements and budgets to company executives led Healthx to contact BizNet Software. Utilizing “BizNet for Intacct,” the only cloud-based accounting software available on the market, Healthx is now able to create reports in Excel by accessing data directly from their cloud-based network.
As big data continues to expand, the cloud has emerged as a strategic and economic platform to collect data, and to support this evolution, cloud-based reporting has become critical to manage and process this information. Leveraging the versatility of Intacct, combined with the unmatched Excel capabilities of BizNet, Healthx now saves days, as well as valuable human capital each time reports are needed.
With real-time access to all data from the cloud regardless of location, Healthx now has a much different approach to reporting. Before, reporting consumed up to six working days monthly. With the power of “BizNet for Intacct,” they have the ability to create all mission critical reports in just one click. They need only login, refresh the data, and all of the information is updated automatically.
“It has helped us create new ways to manage data, freeing up our time immensely without comprising our accuracy or performance. The very first thing I did when we started using the solution was create a comprehensive spreadsheet with all of our payment history that ensures all revenue balances are calculated into the general ledger on a monthly basis,” said Summer Stone, accountant, Healthx. “Now, all I do is select the new month and BizNet does the rest. It’s like having another team member on staff.”
In addition to reducing report development and generation, the software is fully operational after a few hours, is native to Excel, and support highly complex and high volume environments.
“The efficiencies that ‘BizNet for Intacct’ has created for us can’t be overstated,” Stone said.