Financial Agility through Smart Investing and Technology

By Natalie Laackman, MedSpeed’s Chief Financial Officer

I recently had the incredible opportunity to share our growth story and insights as a keynote speaker at NetSuite’s 2023 SuiteWorld conference. SuiteWorld provided a platform to discuss the crucial role that technology and cloud ERPs play in efficiency. I wanted to share some key takeaways.

Harnessing the Power of Technology while Growing:

A remarkable aspect of MedSpeed’s growth journey is that, despite the increasing complexity of our business operations, our financial system has seamlessly adapted without a significant need for additional personnel. Instead of throwing more people at the evolving demands, we turned to the robust technological capabilities of NetSuite. From monitoring cash flow to expediting the book  accounting close process, we now have visibility into every facet of our financial landscape. The result has been a streamlined financial system infrastructure that grows in tandem with our business, giving us the right foundation to remain agile and resilient for the future.

Tools to Enable More with Less:

With over 100 operators spread across the U.S., our previous approach involved constant queries to the finance team for various requests. However, with NetSuite’s implementation, a transformative shift has occurred by empowering our operations leadership team with the tools and training to access the necessary data directly through NetSuite. This shift to a self-service model has been a game-changer, liberating significant time for our finance team to focus on strategic initiatives.

The Future of Healthcare Logistics:

In our commitment to supporting our customers’ growth and adapting to the evolving landscape of healthcare, we recognize the shifting trend towards more convenient care settings, including outpatient surgery centers and home health. Our overarching vision is to become the “Logistics Hub to Healthcare”, ensuring seamless integration of all stops. Visibility to our financial performance translates into efficient and strategic logistics, which, in turn, enable the healthcare sector to concentrate on delivering the utmost quality in patient care.

MedSpeed’s approach to finance and analytics is aligned with our overarching philosophy that underscores efficiency and customer-centricity. By consistently adhering to a strategy that prioritizes investments in resources, we not only enhance our customers’ overall experience but also enable our ability to scale efficiently, ensure long-term success and remain resilient in an ever-evolving marketplace.