Too True Horror Stories

 

Story 1:
First the backstory. In 2018 a good client called us with a CYMA issue. A report is fuzzy. Don’t know why. It just is. It’s legible, but just a hair fuzzy. So the accounting team swings into action. All focus goes to this report. Phones calls and emails fire between client, MVI and CYMA over two days. Nothing gets resolved because CYMA crack support team hasn’t a clue.

When these of things happen I look up the client’s last cost report. I know it’s mean, but I want to confirm my suspicion. I wasn’t wrong. This mid-sized Hospice lost nearly $2 million in 2017. How did I know? It’s a pattern. Financial teams who focus on perfecting the tiny frequently fail to see the important. I’ll bet they have perfect internal controls and never have an audit adjustment. And one day they’ll merge with the giant healthcare company down the road. But at least their reports weren’t fuzzy.

We see it every day.

Story 2:
In late 2017 a client lost their accountant. They called in a consultant to help—and to help forecast and budget for 2018. Here’s the play by play:

• MVI teaches the consultant how to use the accounting software
• The consultant builds a budget—forecasting a loss for 2018
• The consultant charges the client nearly a quarter million dollars

I am not making this up. While the last point is the line that drops jaws, the actual tragedy is in the second point.  How does a Hospice with nearly 100 ADC and no IPU ever lose money? It’s not possible. Except that it is.