How the Healthcare and the Hospitality Industries Mirror Each Other

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Vertical Solutions has specialized in the health and human services industry for years. Dynamics GP has been a great solution for the industry.

Why has it been such a good fit?

  • Microsoft Dynamics GP’s integration tools to automate transaction entry provided by external systems for billing and other functions.
  • The former reporting tool FRx and its successor Management Reporter.
  • Strong user and system security.
  • A wide offering of third party solutions.

Surprisingly, the hospitality industry has many of the same financial reporting demands as does the health and human services industry. These are related industries, are they not? Many of our health problems are rooted in a poor diet, so why not also compare the financial system needs of the two industries?

Healthcare organizations almost always have external systems that affect financial reporting. These systems are billing and purchasing. The hospitality industry has outside point of sale systems for billing and tracking revenue and in some cases purchasing systems that also provide restaurant management.

Healthcare organizations typically are a collection of separate legal entities which are either reported separately and part of a consolidated organization. The hospitality industry typically has the same practice and structure.

Healthcare organizations typically consolidate to take advantage of centralized administration, billing, purchasing and cash management. Restaurants also benefit from the centralization of some or all of these functions.

Healthcare organizations when implementing a system have historically needed to setup separate databases for each practice\location. Restaurants implement in a similar fashion.

How has Dynamics GP from Vertical Solutions addressed the above needs?

  • Reducing time and errors related to rekeying data can be accomplished using Dynamics GP tools such as Integration Manager and\or eConnect.
  • Logging in and out of multiple databases may seem to be trivial and not very time consuming. We have reported instances where a single user logged in and out of databases over 300 times in one week. Using a third party tool, Binary Stream’s Multi Entity Management (MEM) we have been able to eliminate this process while still adding other value such as automatic intercompany transaction balancing.
  • MEM also allows for centralized cash management which reduces costs in the payables function by consolidating multiple location voucher payments to vendors.
  • Maintenance of multiple databases and adding vendors and other master record information is essentially eliminated using MEM.

These two industries, while on the surface appear to be very different, are structurally very similar. Leveraging tools and implementing processes, that have exhibited time tested success, is a key element to greatly increasing the likelihood of a successful implementation.

If you would like to discuss your situation and how our implementation methodology may add value to your organization, contact Vertical Solutions today!

Written by Bruce Lane of Vertical Solutions

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