The dental and medical industries are experiencing a fundamental shift as individual practices join medical services organizations (MSOs) and dental services organizations (DSOs). In 2022, just 46.7% of doctors worked in wholly-owned physician practices, down from 49% in 2020. In 2023, 13% of dentists were affiliated with DSOs—up from 10% in 2019. The model clearly works, and membership provides real benefits to practitioners.
As a DSO or MSO executive, though, you face real challenges. Each entity operates under its own set of dynamics, making financial integration, regulatory compliance, and effective data management paramount. Addressing these challenges effectively requires the right set of tools. A robust financial management tool like Sage Intacct combined with an executive analytics and data visualization tool like Domo might be the ideal healthcare ERP answer. Together, this pair can help you simplify operations and enhance decision-making across your healthcare network. Here’s how:
Multi-Entity Financial and Operational Management
You can harness Sage Intacct’s robust cloud-based financial management to automate and centralize your accounting processes — while Domo’s business intelligence tools bring your data to life.
This combination means you can manage financials more efficiently across all entities with Sage Intacct’s features like multi-entity management, inter-company transaction processing, and consolidated reporting, and visualize your data in real-time through Domo’s customizable dashboards. This dual functionality gives you a comprehensive view of your operations, helping you to monitor financial health, track performance metrics, and make informed decisions swiftly.
Client Example: Passport Health Fast Tracks Growth
Our client, Passport Health, is the largest provider of travel medicine services in the United States, with over 250 travel clinics—both franchises and corporate-owned—throughout the country. We helped them select and implement Sage Intacct — with excellent results.
Using Sage Intacct, the company effectively tracks each location’s financial performance and easily rolls the results into a consolidated view. When Passport Health made four acquisitions in a single year, it was simple to account for them and consolidate them into Passport’s formats within Sage Intacct. “Everything in Sage Intacct is designed to support multi-entity organizational structures,” said Nick Staff, VP of Finance for Passport Health.
Enhanced Data-Driven Decision Making
With Domo, you can integrate data from Sage Intacct and various other sources (think payroll, practice management, electronic health records, etc.) across your organization. This creates a single source of truth that elevates your reporting and analytics capabilities in one healthcare ERP package.
You’ll gain the ability to see beyond the numbers to understand the story they tell about your organization’s performance and health. This insight is crucial for responding proactively to financial and operational trends, and making strategic decisions that drive growth and efficiency.
Client Example: ExsoMed Gains Visibility Across Applications
Previously, ExsoMed relied on multiple disparate applications and dozens of spreadsheets to manage its finance and distribution activities. We helped the organization implement Domo. Now, they can generate reports that include data from each application.
“Domo allowed us to bring data from those applications together for reporting purposes,” explained Michael Lowe, VP of Operations for ExsoMed. “BT Partners is one of the most experienced Domo partners in the country, and we wanted that level of skill and expertise at work for us.”
Scalability and Compliance
As your organization grows, your healthcare ERP will scale with you. Sage Intacct’s flexible architecture lets you add new entities easily and manage them without the growing pains typically associated with expansions. Simultaneously, Domo’s agile framework adapts to increasing data needs so that your analytics capabilities grow with your data.
In addition, both systems support the highest standards of security and compliance, a non-negotiable requirement in the healthcare sector. You can maintain compliance with healthcare regulations and financial standards, confident that your financial practices and data handling meet all necessary guidelines and laws.
Client Example: Tru Family Dental Has Something to Smile About
Tru Family Dental acquires and operates dental practices in the Midwest. It’s a fast-growing company that came to us needing an accounting software solution that could keep pace with its growth and complexities. After thoroughly evaluating QuickBooks, NetSuite, and Sage Intacct, Tru Family Dental chose Sage Intacct as its accounting software solution, with BT Partners managing the implementation.
“BT Partners went a long way to make sure our implementation went well. The levels of responsiveness, guidance, advice, and execution were excellent,” said Tru Family Dental’s Co-Founder and Executive Chairman, Naimish Patel.
Sage Intacct and Domo In Action
We’ve helped several medical and dental organizations streamline complex financial and operational processes, gain enhanced data insights, and significantly improve their decision-making capabilities. Here’s how:
Prescription for Success
Together, Sage Intacct and Domo as your healthcare ERP simplify the complexities of multi-entity management and empower you with the tools to confidently lead your organization into the future. By leveraging these sophisticated technologies, you ensure your operations are as efficient and effective as possible, setting a solid foundation for continued success and growth.
As you navigate the complexities of managing multiple entities within your DSO or MSO, integrating Sage Intacct and Domo offers you a powerful solution to streamline operations and enhance decision-making capabilities. BT Partners can help you make it happen. Contact us to start the conversation.
