From Least to Most Valuable: MGMA Increases Revenue by 12x with Logi Symphony Embedded Analytics

The Basics

Company: MGMA  

Application: DataDive  

Industry: Healthcare 

Use Case

• Customers were unhappy with DataDive’s limited features and functionality
• DataDive now accounts for 76 percent of the total data product revenue MGMA can deliver their product with a new licensing model, thus expanding their customer base and increasing revenue

Impact

• Lasting seven-year-long partnership with an embedded BI partner
• Grew DataDive business by 12 times
• MGMA now releases the annually updated application to customers two months faster than previous iterations

An Unsustainable Innovation Path

MGMA’s flagship product, DataDive, is a self-service application that analyzes data from individual healthcare practices as well as benchmark data across the industry.

MGMA initially opted to utilize a consulting firm to develop a custom analytics solution for DataDive. Outsourcing the analytics development was intended to free up development resources internally. However, the team soon found themselves with an overwhelming backlog of customer requests for improvements. It was taking the consulting firm weeks to fix critical issues. The team also had to be very strategic when making updates outside of new product releases as it was extremely costly.

David Litzau, Director of IT for MGMA, knew they would need to find a more financially sustainable solution, which would allow the team to innovate more quickly. Litzau found a strategic partner in insightsoftware.

Seven-Year Partnership with Logi Symphony: 12x Growth in Revenue

Using Logi Symphony’s elemental design, MGMA was able to rapidly develop and deploy DataDive. MGMA now releases annual updates to DataDive two months earlier than their outsourced solution. This shorter development time allows MGMA to deliver the latest product features more quickly to market.

The partnership has been a success. Seven years later, DataDive is now the most profitable data product and accounts for 76 percent of the total data product revenue. Not only did DataDive drive revenue, but it also provided MGMA with additional opportunities to scale. To help with the initiative, MGMA brought on Miranda Bender, MGMA’s Senior Manager of Business Intelligence, to manage the DataDive product team.

The Business Impact MGMA Didn’t Expect

“Logi Symphony has enabled us to change the entire licensing and use structure of DataDive,” Bender said. “Customers can now purchase multi-user licenses versus a single-user structure.” As a result, MGMA reaches a wider customer base more cost-effectively than when they built their analytics in-house.

Logi Symphony has allowed the development team to rapidly incorporate ad-hoc customer requests and add features throughout the year. Requests that once took weeks to deploy now take just days. Not only does this agile approach keep existing customers happy, but more engineering resources have also been reallocated to developing core IP ensuring DataDive remains a leader in the market.