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Invoice payment and automation

GHX helps you automate the invoicing process so you can deliver up to 100 percent of your invoices electronically. The result is touchless invoicing that helps lower costs, improve efficiency and speed processing. With GHX, you can reduce operating expenses and reallocate resources to more strategic activities. 

Is paper holding you back?

Accounts payable (AP) departments at most hospitals are engulfed in a sea of paper invoices and manual processes. Consider how much time and money is wasted waiting for an invoice to arrive, then spent walking the document around to be coded, approved, and finally paid?

Without efficient processes, your AP department is likely struggling to control costs, reduce exceptions and discrepancies, and process invoices quickly. This limits your ability to accelerate invoice approvals and qualify for early-pay discounts. Overcome these challenges with GHX.

GHX helps you tackle:

  • Dependence on paper-based processes: Deliver up to 100 percent of your organization’s invoices electronically, eliminating paper and data keying.
  • Invoice-to-order discrepancies / exceptions: Three-way matching against purchase order and delivery confirmation helps reduce discrepancies.
  • Long cycle times, poor cash flow: Streamlined processes mean faster cycle times and increased opportunities for early-pay discounts.
  • Slow invoice approval, late payments, missed rebates: Track, route and approve invoices with enhanced visibility into contract compliance.
  • Financial non-compliance, non-centralized reporting: Enhance control and visibility for financial compliance and improved reporting. 
     

Delivering real value to customers

We helped Saratoga Health automate its PO-based invoices and reduce its exception rate from 15–20 percent to zero. How can we help you? 

I don’t have paperwork sitting on my desk. I have all the visibility I need through my computer. I no longer have to work exceptions; the buyers can handle them. And we’ve reduced our exception rate on the back end in our MMIS from 15-20 percent to zero. All exceptions are handled in OnDemand AP.
— Becki LaGrange, Systems Analyst, Materials Management, Saratoga Hospital

 

Healthcare Accounts Payable Automation

Automated hospital accounts payable (AP) is a necessary component to creating an efficient procure-to-pay system. Paper invoices can represent as much as 60–80% of all invoices and, as with any paper-intensive process, it can be difficult to confirm that organizational procedures are being followed. With paper invoices potentially stacked on employee desks, hospitals often don’t have the visibility into all of their open liabilities.

 

Most AP departments face a significant challenge:  the challenge of working more efficiently within their current systems which are often disparate and complex. Today many providers’ medical accounts payable department are utilizing new solutions—software-as-a-service options where no hardware or software must be installed—to realize true paper free processing.

 

Automated Medical Accounts Payable Solutions

Healthcare accounts payable automation streamlines the entire accounts payable workflow process from invoice receipt, through purchase order matching, tracking of approvals and electronic archiving, to sending payments. Applications can scan and classify an organization’s documentation, providing an audit trail for financial management. 

 

Process automation leads to improved productivity and quicker invoice-to-payment turn around, making it possible to capitalize on early payment discount opportunities and optimizing cash flow. Additionally, automation of accounts payable can result in savings beyond these staff efficiencies in areas like contract compliance.

 

GHX is a Healthcare Supply Chain Management company. Our main offerings include: Healthcare Industry Consulting, Automated Hospital Accounts Payable, Medical Business Intelligence, and Medical EDI.