How Qvinci Improves Accounting For a Houston Physician
Hotze Health & Wellness Center is a Houston-based medical practice with a staff of more than 80 caring professionals who provide an environment of hope and well-being for patients. Their mission is to help patients achieve optimal health, which begins with spending time listening to patients.
As the chief financial officer, Cindy Weaver’s mission is to provide the information and reporting needed to run the practice – with the least amount of effort by the staff. Like most medical offices, Hotze uses specialized medical software to manage the patient and insurance billing, and QuickBooks® for payables, payroll and general ledger reporting.
With multiple entities, one of the biggest challenges was providing consolidated reporting without resorting to tedious spreadsheets. Weaver implemented Qvinci.web to sync the Center’s six QuickBooks files nightly from each location to the cloud. Qvinci.web can sync thousands of QuickBooks files and provide consolidated reporting in seconds.Once on the Qvinci server, the data is automatically consolidated and formatted for easy review.
“With Qvinci.web, we are consolidating six entities for management reporting, plus an eliminating company when we need to provide consolidated reporting,” says Weaver. “Previously it was a manual and extremely time-intensive process. It’s much more time efficient to be able to consolidate with Qvinci.”
The second challenge Weaver faced was providing timely analysis and dashboards beyond what QuickBooks could provide. Qvinci.web provides a standardized set of ratios and key performance indicators to diagnose the health of the business and provide early warning indicators.
“The ratios are invaluable to our organization,” says Weaver, who now has the analysis she needs to run the practice without building and updating custom spreadsheet reports.
“They are especially useful to have on the consolidated data.”
Finally, Weaver and her team have access to information faster. Qvinci.web provides e-mail alerts on key performance indicators such as cash balances, daily revenue and expense trending.
According to Weaver, Qvinci.web is easy to use and the Center can access its data from anywhere.
“QuickBooks can be challenging to get into and see the information we need quickly. My team has information faster and they can make better decisions based on relevant data. Qvinci.web is allowing us to take QuickBooks, and our management team, to the next level.”
Qvinci is a Good Fit for ProAdvisors®
For ProAdvisors who want to enhance their value to business clients, a business analysis tool such as Qvinci.web may be the right prescription. Qvinci is an Intuit development partner.
Charles Nagel, chief executive officer of Qvinci Software, says, “We offer the unique ability to consolidate and report on many QuickBooks files in seconds, regardless of the version or location of the files. This enables ProAdvisors to grow from bookkeeper to controller for their most important clients. The time savings from automating the reporting and analysis is enormous. We’ve found the franchise space and multi-location clients, including Hotze Health & Wellness Center, are very excited about Qvinci.web.”