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Background

VirMedica is the industry’s first e-access company. Established in 2013, VirMedica builds technologies that improve speed to therapy, automate HUB operations, and simplify provider workflows. Their solutions are secure, scalable, and can be customized to meet your brand's unique access requirements. They support brands using internal HUB operations, as well as those that have outsourced portions of their access services.

VirMedica is proud to partner with some of the world’s leading specialty biopharmaceutical companies. Their engagements typically focus around efforts to use their technology and proprietary transactions to automate critical portions of a brand’s pretreatment processes. This may include an electronic benefit investigation, an electronic prior authorization or providing real-time case status updates to providers and patients.

Previous Accounting Challenges

VirMedica was outgrowing QuickBooks. They were relying on Excel, which was causing their accounting processes to be cumbersome and prone to errors. VirMedica needed a more robust solution that would allow them to:

  • Streamline accounting processes
  • Reduce the use of Excel
  • Provide dynamic reporting capabilities
  • Routinely spread revenues out automatically
  • Work in a cloud-based environment

Benefits Realized With AcctTwo

VirMedica leaned heavily on the referral of the American Institute of Certified Public Accountants (AICPA) to choose AcctTwo's platform, Sage Intacct, a cloud-based accounting software solution. AcctTwo's solution is the only accounting software that is endorsed by the AICPA. With guidance from AcctTwo's experts, VirMedica was able to significantly improve accounting processes  and eliminate tedious Excel entries. Now, they have real-time access to robust reporting and dashboards, and anytime anywhere access to their financial data.

“AcctTwo provided a smooth implementation. Their team was a knowledgeable resource, providing patience and best-in- class service.” Ed Strong, Controller, VirMedica. AcctTwo met VirMedica’s deadlines and went live on-schedule. Understanding that reporting was a key decision maker in the selection process, AcctTwo focused on helping them reduce their reporting cycle time. The process involved replicating VirMedica’s reports to find the most efficient way to make their month-end as smooth as possible.

Since VirMedica’s implementation, they have:

  • Gained visibility across its finances and operations to monitor their business in real time
  • Reduced their monthly reporting processing time from 12 days to 7 days
  • Created customized dashboards and reports tailored to their specific needs
  • Managed their finances more efficiently
  • Simplified and streamlined key accounting processes

VirMedica

“AcctTwo provided a smooth implementation. Their team was a knowledgeable resource, providing patience and best-in- class service.”

- Ed Strong, Controller, VirMedica