NetSuite Helps Healthcare Company Grow 500% in 3 Years

Results:

• Company has grown 500% in 3 years, while reducing administrative time and costs
• NetSuite's integrated cloud architecture, ease of use are saving 1 1/2 full-time administrator salaries over the previous system
• Remote access to real-time financial information is also saving Recovery Healthcare CPA costs of $600 monthly
• Integrated financial and customer information has helped the company boost its overdue receivables collection rate from 85% to 92%
• Monthly financial disclosure reports for bank investors are produced instantaneously; previously, the reports took 30 days for production and delivery
• Automated processing for credit cards and on-site cash payments have eliminated errors due to manual processes

Challenges:

• Limited business software couldn't support Recovery Healthcare's substantial growth potential
• The need to manage 16 satellite offices in 3 states was wasting administrative time and slowing business processes
• Inability to take online payments risked billing errors, particularly in cash transactions

Solution:

• Recovery healthcare chose NetSuite over server-based software because of the cost savings, and because of the ease of remote access via the cloud
• NetSuite user training took half the time of the previous system, even though the previous system had far less functionality
• NetSuite OneWorld's multi-subsidiary, multi-currency and other features will help the company embark on future plans to grow internationally