Inc. 5000's fastest-growing private company in America leverages the power of the suite to improve efficiency, increase business visibility, and support rapid growth
LAS VEGAS, Sept. 9, 2024 /PRNewswire/ -- SuiteWorld -- Vytalize Health, a leading value-based care platform, is using Oracle NetSuite to support its mission to revolutionize the healthcare industry and help accelerate the shift to value-based care. With NetSuite, Vytalize Health has been able to take advantage of an integrated business system to automate financial processes, streamline workflows, and efficiently scale its operations.
Founded in 2014, Vytalize Health began as a single healthcare practice in New York City. The company quickly realized it could provide more impact by partnering with other healthcare providers to deploy its unique care delivery model that focuses on helping primary care physicians (PCPs) strengthen their relationship with patients. Today, Vytalize Health is a leading provider enablement platform, offering an all-in-one solution that includes value-based incentives, smart technology, and a virtual clinic. This platform enables both small and large independent practices to thrive in value-based care arrangements. Vytalize Health was recently recognized as America's fastest growing private company, earning the top spot on the Inc. 5000 2024 list. As Vytalize Health grew, its existing legacy system and the manual processes it had historically relied on couldn't keep up. To establish a scalable business system that could help it increase efficiencies and support its rapid growth, Vytalize Health selected NetSuite as its new enterprise resource planning (ERP) system.
"Our revenues have grown by 900x in the last three years. With extraordinary growth, the manual financial processes we once relied on were no longer sustainable," said Jessica Wijesekera, senior vice president of global accounting, Vytalize Health. "With NetSuite, we have been able to gain complete visibility across our rapidly expanding operations to increase efficiency, drive down costs, and improve decision-making, which in turn helps our partner physicians lower costs and deliver the highest quality care possible to patients."
With NetSuite, Vytalize Health has been able to automate workflows to increase the speed and accuracy of its financial processes, which include weekly incentives and upfront payments to help physicians transition to value-based care models. For example, NetSuite Bill Capture helps Vytalize Health leverage AI to intelligently capture and categorize expenses and reduce manual bill entry. In addition, NetSuite enables Vytalize Health to customize its reporting, quickly and easily access greater business insights, and decrease the time and effort needed for account reconciliation, period close, and audit processes.
"The healthcare industry is complex, but for healthcare innovators like Vytalize Health, business processes don't have to be," said Evan Goldberg, founder and executive vice president, Oracle NetSuite. "With NetSuite, Vytalize Health has the AI-powered finance processes it needs to increase speed and accuracy, better understand the health of its business, and establish a scalable foundation to support its impressive growth – ultimately enabling improved patient outcomes."
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SOURCE Oracle NetSuite