PatientNow is a leading provider of specialized software solutions tailored to the aesthetics and wellness industry. Their comprehensive suite of tools caters to medical spa, plastic surgery, weight loss, IV therapy, dermatology, and wellness practices. With components like EMR, practice management, patient engagement, payments, and digital marketing, PatientNow aims to streamline workflows, ensure accurate record-keeping, enhance patient care, and boost operational efficiency for their clients.
PatientNow had problems because their billing process in NetSuite was done manually and offered limited data for analysis. As its customer volume grew, NetSuite was unable to effectively scale and lacked significant updates. Seeking better automation and data management to maximize growth, they decided to partner with a provider to address these challenges and scale up efficiently.
Challenges
After three separate acquisitions, leading to the use of three different billing software systems—NetSuite, Zoho, and Recurly, PatientNow experienced challenges related to consolidating and reporting data across multiple platforms, difficulty in customer purchase management across varied offerings, and increasing complexity in managing contracts due to internal and external agreements associated with the disparate systems. Understanding the inefficiencies caused by running three different billing software platforms, PatientNow recognized the importance of revisiting and streamlining their billing processes for improved efficiency and operational effectiveness. Cliff Thifault, VP of Finance – Controller, says “We felt that we needed to bring in a partner that can drive automation and give us better data. Stax Bill was the best fit for us.”
Before switching to Stax Bill, PatientNow faced several problems with its main billing system, NetSuite. The manual process in NetSuite made it tough for them to analyze data in detail, which was essential for solving issues. Also, the billing system did not receive important updates and improvements over time, making it difficult for PatientNow to manage the growing number of customers from new acquisitions and organic growth. Additionally, they weren’t able to fully use NetSuite for expansion due to limited knowledge. This led PatientNow to look for a new partner that could automate their processes and improve data management, helping them scale their operations more effectively.
Solutions
Understanding the need for better billing processes, PatientNow switched to Stax Bill, which greatly improved their billing operations. This strategic change brought them several benefits:
- Accelerated Book Closing: Stax Bill enabled faster book closing processes by implementing billing at the start of each month, enhancing financial reporting efficiency.
- Improved Cash Flow Forecasting: Standardizing payment collection improved cash flow predictions, providing a clearer financial outlook for more effective management.
- Enhanced Accounts Receivable Management: Stax Bill’s automation tools streamlined accounts receivable processes through early issue alerts, optimizing efficiency.
- Efficient Customer Management: Enhanced customer management features in Stax Bill facilitated swift dispute resolutions and improved overall operational workflow.
- Integrated Communication Features: Stax Bill’s communication features enhanced customer relationship management and issue resolution, fortifying operational effectiveness.
PatientNow successfully switched billing services by focusing on clear communication with customers, carefully transferring billing details, understanding sales tax processes, updating APIs for tax reporting, and monitoring financial impacts closely. Their forward-thinking attitude, dedication to running things smoothly, and keeping customers happy led to a smooth changeover to Stax Bill. This move demonstrated their ability to adapt and overcome obstacles effectively.
Thifault says “With Stax, I can easily look into a customer as soon as I log and see their MRR. If I want to see the recurring revenue for a customer over a couple of months, there’s an MRR trend report that I can help me understand and forecast.”
Through their strategic partnership with Stax Bill, PatientNow optimized their billing operations, simplified financial processes, and enhanced operational efficiency, reinforcing their position as an all-in-one solution provider for aesthetics and wellness practices.
From PatientNow’s transition, here are suggested tips for migrating to a new billing platform. ↓
Tips for Switching Billing Providers:
- Effective Customer Communication: Establish a clear communication plan with your customers about the upcoming changes as they will be the most affected.
- Deep Dive into Transaction Cases: Thoroughly examine your transaction and product cases to ensure you understand how to map them in the new system at a granular level.
- Anticipate the Unknown: Be prepared for unexpected issues by extensively mapping out processes to avoid missing details.
- Understand Sales Tax Processes: Ensure you comprehend how the new billing system, such as Stax Bill, communicates with tax services like Avalara to avoid being taxed twice due to overlapping processes.
- API Adjustments: If you are using an API for tax reporting, make the necessary adjustments to prevent redundant or incorrect tax calculations.
- Monitor Financial Impact: Be particularly vigilant about the financial aspects of the transition to quickly identify and resolve any costly hiccups.
- Monitor the Integration Tracker: Ensure all customers and transactions are syncing to your financial system, especially within the first few billing cycles.
Impact
As of April, PatientNow has successfully migrated 4,500 customers from three different platforms to actively bill on the Stax platform, marking a significant achievement in their transition process. The company was able to accomplish this significant feat by determining the proper cutoff period for billing and transitioning all customers to a unified billing date on the first of the month. Additionally, PatientNow worked to develop the parent-child account relationships within the Stax Bill system, saying “The parent-child relationship aspect of it has been beneficial because we have software companies with a variety of subsidiaries or different locations, but they want to manage them in a certain way. The account relationship hierarchy is something we didn’t have before and has been super helpful with managing those.”
The successful switch to Stax Bill by PatientNow, despite facing many challenges, highlights their ability to handle tough situations and their dedication to delivering an excellent billing system that fits their needs. This achievement also shows how committed they are to serving their customers well and their skill in adapting and overcoming obstacles.
“Feedback from customers has been positive. They love the ability to be able to not only see their bills, but understand them as well. Customers appreciate being able to drill down and have the history of their past invoices and payments.”
PatientNow’s adoption of Stax Bill has not only addressed the challenges they faced in their billing operations but has also elevated their efficiency, accuracy, and customer management to new heights. By embracing innovative solutions and leveraging advanced technology, PatientNow has positioned themselves as a leader in the healthcare management systems industry.
“We had the right team and support to help us get there. We’re learning a lot with Stax and better aligning with the team every day to utilize it effectively.”
By partnering with Stax Bill, PatientNow was able to accelerate their book closing processes, enhance cash flow forecasting, streamline accounts receivable management, improve customer management, and fortify their communication features. Through meticulous planning and effective customer communication, PatientNow successfully migrated 4,500 customers from three different platforms to actively bill on the Stax platform, showcasing their adaptability and resilience.
The company’s commitment to operational excellence, customer service, and the adoption of innovative solutions has reinforced their position as a leader in the healthcare management systems industry. The successful transition to Stax Bill not only addressed their billing challenges but also elevated their efficiency, accuracy, and customer management, exemplifying PatientNow’s dedication to overcoming obstacles and providing top-notch solutions for their clients.
