Tackling tough social problems with a unified vision and sound finance
NorthBridge’s 700 employees work in areas including disability, opioid addiction, mental health, sober living, and non-emergency medical transportation.
Their four businesses within the larger organization help to address specific issues:
- Bridges Minnesota: Serves people with disability and mental illness.
- Northstar Behavioral Health: Helps people recover from opioid addiction.
- RUMI: A tech platform that connects live-in caregivers with those with disabilities.
- TRUSS: Invests in real estate for group homes.
Each of these four companies have within them specialized programs that provide essential services for the business. For example, Northstar Behavioral health engages with clients in several ways to help with opioid addiction recovery: mental health care, medical transportation, laboratory services, and more.
This complex infrastructure reflects their commitment to do whatever it takes to help their patients get the best results. Since Northstar opened up its first opioid addiction program in March 2016, it’s been offering a solutions-oriented treatment process called a medicated assisted model. This model, which is often more effective, deviates from the current practice in the field that focuses on a 28-day absence-based model.
“We’re the country’s only residential treatment program that’s specialized for an opioid use disorder,” says Luke.
Part of their mission is making sure they have the freedom to pursue their goals and not succumb to outside pressure from investors. That’s why they’ve been a 100% bootstrapped organization from day one. But to succeed as a self-funded company, NorthBridge has had to manage their finances carefully and make prudent business decisions.
“We always say profits don’t define us, but they sustain us in this space we operate in. We need to make sure we’re making sound business decisions as we take the next steps where we’re continuing to grow,” Luke explains.
One way they’ve been able to achieve success as a bootstrapped organization is by using
QuickBooks Online Advanced as the business became more complex and continued its rapid growth. The main selling point for Blake was its ease of use.
“I don’t have any formal financial education,” says Blake. “I’m a Biochemistry major and now I’m trying to run a business and be an entrepreneur. So QuickBooks has been a tool that allows me to use it and do so effectively.”
Including Blake, there are 12 current users on their QuickBooks Online Advanced accounts.
With batch transactions, Advanced enables NorthBridge to streamline the creation and editing of approximately 13,000 checks, expenses, and bills every month, as well as track data from 85 locations across four businesses, giving them more time to better serve their clients.