Medically Home
NetDynamic Consulting’s Dynamic Managed Services help Medically Home
amplify their financial reporting and payroll processes, post their NetSuite implementation.
Company
Medically Home
EMPLOYEES
11-50
LOCATION
Boston, Massachusetts
SYSTEMS REPLACED
QuickBooks
INDUSTRY
Hospital & Health Care / Medical Services
SERVICE OFFERED
Dynamic Managed Services
Company Overview
Medically Home is the provider of a Virtual Hospital Program, with patients admitted in the comfort of their homes instead of hospitals, for acute and restorative care. Providing tools and systems to actively engage patients and their families, Medically Home also configures a physician-led/nurse-powered Medical Command Centre to deliver continuing care and perform select surgical procedures in the temporary hospital units set up in patient homes.
Challenge
On account of rising difficulties using QuickBooks, Medically Home implemented NetSuite to tackle their complex business ERP requirements. Following the implementation of NetSuite, the company engaged NetDynamic Consulting, a trusted NetSuite partner to optimize and enhance their NetSuite investment.
Medically Home’s original NetSuite implementation revealed major inconsistencies in its financial modules. This resulted in financial statements not reporting accurate, real-time, and up-to-date information, which was critical to their time-sensitive decision-making processes. Moreover, the trial balances were incongruent and additional setups initiated at the beginning of the NetSuite implementation were incomplete, thereby depriving the business of necessary functionality.
Solution
NetDynamic was engaged to complete setups in their NetSuite financial modules and fix major financial reporting issues. We built a series of NetSuite customizations to optimize Medically Home’s NetSuite instance. Customizations to fix their opening balances and financial reporting up until August 2020 were deployed.
Their current balances were reconciled and reimported, and financial reports were heavily tailored. Building on Medically Home’s payroll expenses entered into NetSuite, a custom solution was crafted to reallocate them based on their percentage per employee.
Results
Medically Home had a time-sensitive requirement to fix their NetSuite instance. At NetDynamic, we delivered the initial set of NetSuite financial reporting and module customizations in a turnaround time of two weeks, enabling the Medically Home team to largely streamline their financial reporting for C-level approval.
Through NetDynamic’s NetSuite Managed Services, Medically Home has an expert team of responsive resources promptly sharpening their NetSuite ERP platform based on their specific, on-going needs. This has also facilitated effective and timely addressal of their NetSuite grievances.
With a NetSuite system that is now ready to support increased functionality and demand, NetDynamic’s NetSuite optimization for Medically Home has also helped leverage their internal controls and better structure their financial reporting processes.