Summary
After the Wisconsin Collaborative for Healthcare Quality (WCHQ) transitioned to Wipfli’s outsourced accounting and CFO services, leaders went from using data that was 30-60 days old to gaining access to real-time information — allowing them to make proactive decisions to better meet their mission.
Situation
WCHQ was facing two main challenges. The first was meeting the data needs of its board of directors, finance committee and internal leadership team members so they could make timely decisions.
The second was with its accounting system. WCHQ had been using an outsourced accounting firm for support but wanted to consider other options.
Wipfli had been performing WCHQ’s audit for several years, so WCHQ decided to look into Wipfli’s outsourced accounting and CFO services.
Strategy
Wipfli’s outsourced accounting solution is not only comprehensive, it also brings the benefit of specialists to each role. Because WCHQ’s accounting had grown too large for one person to handle, the organization moved its accounts payable, grant reporting and other accounting functions to Wipfli, where a team that could scale with WCHQ’s growth began handling its needs.
There was also the challenge of providing data to leadership. After performing an assessment to identify information and process gaps, Wipfli recommended transitioning WCHQ from QuickBooks to Wipfli’s Sage Intacct platform, which would provide WCHQ leaders with data visualization dashboards using real-time data.
Results
WCHQ has found the dashboards to be a helpful tool in tracking income and expenses. While leadership team members previously had to wait until month close to get information and use data that was 30-60 days old, with Intacct, they can now access real-time data from any device with an internet connection. What’s more, data is now in a dynamic format that allows them to drill down, resolve questions and make proactive decisions.
Funding complexity and a tight budget also make it necessary to have a good understanding of expenses year-to-date compared to the board-approved budget. Intacct provides this understanding and allows WCHQ to better maximize resources and prevent expenses that fall outside funding source parameters. With those changes, WCHQ is seeing an improved cash flow.
Leadership also has a much better understanding of WCHQ’s financial position, as well as how different leaders contribute and how services within the organization intertwine. Intacct addresses these questions by presenting data the right way; however, leaders also feel comfortable asking Wipfli team members more complex questions.
Lastly, Wipfli streamlined and simplified the budget process, taking into account the complexities of a grant-funded organization. The spreadsheet tool Wipfli created allowed WCHQ leaders to view the impact making changes to, for example, labor allocations affected the bottom line, which made it possible to discuss and finalize the budget more quickly and easily. In addition, budget information can now be shared dynamically and imported into Intacct easily.
With all this real-time data, visibility and high-quality accounting services, WCHQ is pleased with its transition to Wipfli.
Client profile
The Wisconsin Collaborative for Healthcare Quality (WCHQ) is a voluntary consortium of organizations committed to better health, improved quality and more affordable healthcare for the people of Wisconsin. WCHQ’s unique set of ambulatory care measures enable health systems, medical groups and dental practices to publicly report comparative measures of performance. Members use these measures to drive internal improvement efforts and reach across organizations, sharing their knowledge and learning from the highest performers.
