Epiphany needed a robust and sophisticated financial management platform to support its aggressive acquisitions and growth strategy, yet functionality in its previous QuickBooks accounting application was only skin deep. QuickBooks couldn’t meet Epiphany’s needs for multientity consolidation and reporting, forcing the company to maintain separate books for each entity. QuickBooks also didn’t allow Epiphany to maintain P&L statements for each clinic, or to calculate adjusted EBITDA that accounted for “add-back” expenses. As Epiphany grew, so did the manual workload for the accounting team.
The ideal solution would automate core accounting processes, integrate with best-of-breed applications, and provide multi-dimensional reporting at entity, clinic, provider, and service type levels for insights into performance and profitability.