Revamping finance processes for accuracy and efficiency with Health Connect America
Key results snapshot
Decreased month-end reporting process from 4.5 to 2 days
(56% improvement).
Improved operating contribution actuals to budget variance
by 93%, from 16.1% to 1.1% variance to budget.
Streamlined budgeting process and achieved annual labor
savings of $79,380.
Who is Health Connect America?
Health Connect America provides mental and behavioral healthcare services with nearly 100 locations in the United States.
Business challenges
Health Connect America made changes to their finance team due to widespread organizational changes between 2019 and 2022.
The new team inherited disorganized finance processes that relied heavily on Excel, even though the company had purchased Prophix several years prior.
The risk of human error and the excessive time spent on manual work often resulted in inaccurate budgets and reports and extended turnaround times.
Applications deployed
Finanzplanung und -analyse
System integrations
Ad Hoc [Analysis] is a great feature, making us able to quickly dive into the details and pivot on data, setting up quick reports that we want to dig into. It gives the ability to be more flexible and accomplish more ad hoc tasks.
Tyler Patton
Director of Financial Planning and Analysis, Health Connect America
Warum Prophix
Health Connect America adopted Prophix in 2019 but hadn’t used the platform to its full potential. The new finance team decided to explore Prophix’s full potential to optimize their processes across the organization.
Here’s why:
- Prophix’s Financial Performance Platform could improve Health Connect America’s disjointed processes with a single source of truth for their data.
- Health Connect America finally had access to robust and efficient reporting. Instead of spending days aggregating data manually in Excel, the finance team could now produce reports in minutes or drill down into existing ones in seconds.
- Data moves seamlessly through Prophix, giving everyone from financial analysts to location managers and the executive team access to up-to-date reports. Every level of the organization can draw insights from that data, answer questions, and make data-informed decisions.
Key results
The finance team at Health Connect America didn’t just save days of manual work; they dramatically improved the accuracy of their budgets and reports. With financial planning, budgeting, and reporting in the Prophix Financial Performance Platform, the team could do more in less time while improving their processes.
With Prophix, Health Connect America was able to:
Centralize and optimize financial planning and analysis for nearly 100 locations.
Keep budgeting processes in-house instead of relying on external consultants.
Use the Microsoft 365 Excel Add-in to create monthly reports in 30 minutes instead of three days.
Streamline workflows with custom templates for easier stakeholder collaboration and greater oversight of progress and deadlines.
Drill down on crucial data in one platform, no matter where it’s from.
Accurately plan personnel expenses by employee, location, and department, and drill through from actuals to budget for comparison.
Improve accuracy across all budgeting and reporting processes.
in Aktion