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Cadence Bank Helps Whatley Health Services Overcome Financial and Operational Challenges

Cadence Bank Helps Whatley Health Services Overcome Financial and Operational Challenges

Whatley Health Services is a nonprofit community health center in western Alabama whose mission is to provide primary healthcare services to the region’s medically underserved residents. Whatley’s 190 employees provide a wide range of family healthcare services at 13 locations in seven western Alabama counties.


Two years ago, Whatley’s CEO Deborah Tucker met with Cadence Bank to discuss their financial and operational challenges. Two main challenges faced Whatley Health Services:


  • Whatley used many manual, paper-based processes that decreased operational efficiency and increased costs
  • They suspected their insurance coverage and employee benefits packages were out-of-date and not meeting the needs of their employees


“It can be hard to maintain expertise among staff in understanding the costs from a risk and liability perspective, and find time to gather all the required information to do the analysis,” says Tucker. “We rely on Cadence to help make sure we’re staying current with industry best practices in these areas.”


Cadence streamlines Whatley’s accounts payable with Lockbox


Managing accounts payable was one of Whatley’s biggest challenges. “We write lots of checks, and our policies and procedures require that our board members be involved in reviewing and approving these checks,” Tucker explains. “This was a very cumbersome process because they are geographically disbursed, and the sheer amount of paperwork was becoming overwhelming.”


Lori Johnson, Cadence Bank Senior Vice President and Treasury Management Sales Manager, recommended that Whatley implement Payables Lockbox to streamline the accounts payables process and make it easier for board members to review payments remotely. Tucker says that Payables Lockbox has been the perfect solution for Whatley Health Services.


The two main benefits, according to Tucker, are:


  • Board members can now review payments from wherever they are, without all the paper shuffling. “They simply log into the online system and review payments by summary or by detail,” Tucker says. “They are extremely satisfied.”
  • Payables Lockbox improved internal AP management, connecting directly with Whatley’s financial accounting software. “It’s much more efficient and has significantly reduced errors while providing our accounting staff with better access to AP files and more detailed data at their fingertips,” Tucker notes.


See our e-book on the benefits of Payables Lockbox.


Comprehensive insurance and employee benefits


Next, Todd Fredella, Senior Vice President for Cadence Insurance, performed an in-depth analysis of Whatley’s coverages and benefits package to help them understand how much they were paying and what they were getting for their money.


“Todd brought great knowledge of the industry and best practices but always with an eye on the budget, which is critical since we’re a nonprofit,” says Tucker.


Fredella presented a comprehensive new insurance and employee benefits package to Whatley that maintained or enhanced the coverages they had for less money. Highlights here include:


Insurance. Whatley added cyber liability insurance, which Tucker says is critical given the volume of medical records that Whatley stores. In addition, Cadence Insurance provides Whatley Health Services with:


  • Property and business interruption insurance
  • General, professional and umbrella liability
  • Auto and mobile medical unit insurance
  • Directors and officers and employment practices liability
  • Workers compensation insurance


Employee benefits. With the help of Cadence Insurance, Whatley launched a new employee benefits program, coined Whatley Medical Home, that is saving them six figures annually. It includes:


  • Dental and vision benefits
  • Life and disability insurance
  • A partially self-insured group medical plan with a new medical home benefit


“With Whatley Medical Home, our employees can pay about 25 percent less for healthcare if they go to their local Whatley facility,” says Tucker.


Cadence ‘gets it’


Tucker appreciates the broad understanding of cash management, insurance and employee benefits that Cadence Bank and its affiliate Cadence Insurance have brought to the table.


“They really get it,” she says. “They understand who we are and what we're trying to do, as well as some of our limitations and the challenges we face as a nonprofit, mission-driven organization.


“Cadence has shown a real willingness to adapt and customize their services to meet our needs,” she adds. “This is representative of the type of business adviser Cadence is, and the type of bankers Lori and Todd are.”


Cadence specializes in helping businesses and organizations meet a wide range of financial and operational challenges. To discuss your organization’s specific challenges and how we can help, contact Cadence Bank.

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