Hospice Accounting Case Study: How Mountain Valley Hospice Strengthened Financial Operations with Universal Bookkeeper
“We needed more than just bookkeeping—we needed a strategic financial partner. Universal Bookkeeper gave us the clarity and infrastructure to make confident, data-driven decisions.”
About
- Industry: Non-Profit Hospice & Palliative Care
- Employees: 25–50
- Location: Fulton County, NY
Services Provided by
- Non-profit hospice accounting
- Bookkeeping & financial reporting
- Accounts payable management (via Bill.com)
- Fractional CFO services
- Client Since: September 2022
Before Partnering with Universal Bookkeeper
Mountain Valley Hospice (MVH), a non-profit hospice organization based in Fulton County, faced several operational and financial challenges that impacted their ability to grow and serve their patients:
- Delayed & Inaccurate Financials: Financial reports were often outdated and unavailable in time for board meetings. The lack of industry-standard accounting practices and missing accruals made it impossible to predict cash flow effectively.
- No Visibility into Profit Centers: MVH lacked a clear understanding of which services were profitable—whether hospice, residential, or palliative care—leading to inefficient resource allocation.
- Inefficient Cash Management: Poor billing processes and unclear procedures resulted in significant monthly write-offs from unpaid private-pay receivables.
- Overwhelmed Internal Staff: The administrative burden placed on a small finance team created bottlenecks, with operations often coming to a halt during employee absences.
After Partnering with Universal Bookkeeper
Universal Bookkeeper provided end-to-end accounting solutions tailored for the hospice industry, transforming MVH’s financial infrastructure and supporting long-term sustainability:
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Accurate, Timely Financial Reporting
Accurate, Timely Financial Reporting- Delivered customized, audit-ready board packages by the 10th of each month.
- Implemented an industry-compliant chart of accounts with accurate accruals to enhance cash flow forecasting.
- Enabled leadership to make informed decisions with reliable monthly financial reports.
- Profit Center Clarity
- Clearly identified which services were contributing to profitability.
- Enabled strategic shifts in operations—especially in the Palliative Care unit—resulting in reduced losses of over $70,000 annually.
- Stronger Cash Flow & Collection Processes
- Overhauled private-pay billing for the Residence Unit, introducing recurring payment systems via credit card processors.
- Implemented a real-time cash projection model to monitor financial health and forecast shortfalls.
- Transitioned Accounts Payable to Bill.com, adding automation, oversight, and efficiency.
- Scalable Reporting & Strategic Oversight
- Introduced dashboards and KPI tracking for actionable insights.
- Bi-weekly financial updates gave leadership visibility into spending trends and anomalies.
- Identified cost-saving opportunities, including a $20,000 annual reduction in credit card processing fees.
The Results
The collaboration with Universal Bookkeeper revolutionized MVH’s approach to financial management. Key improvements include:
- Eliminated Bad Debt from private-pay collections in the Residence Unit.
- Reduced Losses in the Palliative Care Center by over $70,000 annually.
- Improved Audit & Compliance Readiness, with on-time 990 filings and smooth audit processes.
- Increased Confidence from Leadership & Board Members due to consistent, transparent financial reporting.
- Time Savings & Operational Efficiency with outsourced AP, freeing internal staff to focus on mission-critical tasks.
How Universal Bookkeeper Can Help Your Hospice
If you run a non-profit hospice or palliative care organization, navigating strict budget constraints from Medicare/Medicaid while managing growing operational demands can be overwhelming.
Universal Bookkeeper specializes in accounting services for hospices, offering scalable solutions that allow your team to focus on delivering compassionate care—while we take care of the numbers.
Whether you need:
- Accurate financial reports
- Cash flow projections
- Support with audits and 990 prep
- Outsourced AP or back-office support
- Or a Fractional CFO to guide your financial strategy…
We’re here to build a reliable, efficient, and scalable financial system tailored to your mission.
Contact Universal Bookkeeper today to strengthen your hospice’s financial foundation and make every dollar count toward delivering exceptional end-of-life care.
Get in touch with us to schedule a consultation.