Monily enables Family Medicine Austin to streamline their finances, generate better revenues

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Monily, a complete financial services provider, partnered with a Texas-based healthcare practice and helped them optimize their financial operations.

Monily successfully strengthened Family Medicine Austin’s (FMA) back-office functions, enhanced accessibility to accurate monthly finances and accounts and boost their financial performance with our financial intelligence expertise and end-to-end accounting services.

With five months of accurate bookkeeping and streamlined accounting processes, FMA was not merely able to achieve a two-fold growth in their financial performance, but they also expanded their practice to administer care to more patients.

“With a robust and functional bookkeeping and accounting system, key stakeholders at FMA will be able to get deeper and accurate financial insights”, says Farwah Jafri, product owner, Monily.

She adds: “This also translates into FMA team spending less time spent on operational hiccups and more time on providing premium healthcare services to their patients. Monily ensured that the financial services we offered are customized to FMA’s unique needs and they are able to tackle challenges related to accounts payables and receivables, among others.”

Much of the clinic’s accounts were not reconciled with the bank and their accounting was manual. The lack of organized data made it challenging to calculate projections and forecasts and check variances and trends. The management relied heavily on non-automated financial transactions and in the absence of official accountants, they were unable to make monthly reports and yearly audits which is a financial setback for any business’s long-term growth.

Monily mapped all these different processes to identify key procedural issues that required immediate interventions, and automated their finances and accounts to facilitate information sharing, making it accessible to all stakeholders.

“The financial experts at Monily have worked closely with us to understand our business requirements, guided us through the process and helped our practice get a financial makeover when we needed it the most. It has been smooth sailing for us since we integrated the new dashboard in the system”, says Anthony Black, FMA

About Monily
Monily was founded with a vision to empower business owners and build informed leadership. Backed by a team of world-class finance and accounting professionals that leverages industry-leading financial tools, we offer a full spectrum of bookkeeping and accounting services. Over the years, we have worked as strategic partners with startups, and small and medium-sized enterprises to help them gain critical oversight, reduce expenses and drive profitability.

About Family Medicine Austin
Family Medicine Austin is a full spectrum preventive, diagnostic, and disease management care provider for individuals and families throughout the Austin, Texas area. With an expert medical team led by a board-certified family medicine physician, the practice offers compassionate, quality healthcare services including, ADHD diagnosis and treatment, allergy testing and treatment plans, anti-aging medicine, dermatology care, and more.

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