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Client background

Millennium Physicians is a multi-specialty medical practice in north Houston that serves patients in several clinics. They are dedicated to providing comprehensive care and advanced treatment options, all in one place, working hard to make their patients’ lives easier. Although their mission is to give their patients a single source of care, when it came to their own core accounting needs, they were forced to use multiple systems to complete everyday tasks.  

The business challenge

Millennium Physicians had been using another accounting software, but it wasn’t meeting the demands of their practice. Each week, the Millennium accounting team processes over 1,200 invoices. And at month end, they allocate various overhead expenses to their clinics. Because their accounting software couldn’t handle these complex allocations, the accounting team spent hours in Excel allocating overhead to specific clinics and physicians, and then spent more time creating reports from those Excel files. The team was frustrated by the manual, tedious tasks and everyone was frustrated by the inefficiency.

In addition to their frustration with allocations, there was no way to easily break out specific data Millennium needed from their chart of accounts. When management wanted to track performance by clinic location or which insurance was being used, everyone was forced to dive back into spreadsheets and spend hours pulling the needed information into reports.   

Solution and results

Millennium Physicians started working with Baker Tilly to implement Sage Intacct for their core accounting needs and added Advanced Allocations to automate their complex monthly allocations. Each allocation is fine-tuned through detailed options to meet their exact criteria. Now, instead of becoming frustrated working through non-value-add tasks, the accounting team can simply run the pre-defined allocations each month.  

With Sage Intacct dimensional accounting and Baker Tilly’s Advanced Allocations, administrators can now track performance by clinic location and by physician. And with the use of custom account dimensions, they are even tracking which insurance payers and Current Procedural Terminology (CPT) codes are used.

Using those financial dimensions, the accounting team can automate their reports from Sage Intacct instead of spending hours figuring out the data they need from Excel. They can then quickly distribute the reports to all their physicians. With everyone having timely access to the data, the whole team is working with the same information, and it allows them to make quicker and more intelligent business decisions.

For Millennium Physicians, switching to Sage Intacct with Advanced Allocations gave their employees the opportunity to work on more fulfilling value-add activities. The automation helps keep their monthly data accurate and timely, resulting in confident decision making. Now, like the convenience they provide their patients, the Millennium Physicians’ accounting team has everything they need in one place.

Get started

To learn more about how Baker Tilly Digital's Advanced Allocations solution can help your business automate monthly allocations, contact our team today.