Improving accounts payable—such as through automation—stands to be a substantial value driver. Significant opportunities exist for impactful improvements that can bring about transformation for healthcare organizations.
In this HFMA Action Brief, learn how organizations have used automation of procurement and payables processes to optimize business performance.
By leveraging technology, organizations can streamline accounts payable functions, saving themselves time and money.
“Any time you can simultaneously improve efficiency, reliability, and security, it is a good thing, and we have found the move away from paper to be a beneficial one on all fronts.”
Sondra Crowley, Senior Director of ERP Business Transformation for Texas Health Resources, Arlington, Texas
An e-payables solution is a foundation for efficiency, but best-in-class solutions will go further to prepare you for changing industry trends. Use this checklist for your assessment.
Cost savings and business benefits enabled by the GHX platform for a healthcare provider and a healthcare manufacturer based on the Forrester Total Economic Impact model.
Address financial uncertainty with the healthcare working capital solution that lets you direct funds where needed, when needed, for supplier payments on your terms. Capture more rebate opportunities and improve your cash conversion cycle with zero non-usage fees.
Making the move to frictionless AP processing helps improve cash management and frees up working capital. Not only do fewer touch points mean fewer errors and exceptions, but this invoice automation solution supports strategic goals to reduce costs and improve productivity by going paperless.
Traditional payment processes are fragmented and costly--in time and money. ePay is unique, a unified payment platform that maximizes your rebate opportunities, gives you choice in banking relationships and payment rails while aggregating your payment data for true decision support.
Phoebe Putney Health System achieved greater efficiency, accuracy and visibility within the accounts payable (AP) department utilizing the GHX OnDemand AP® solution. It has gone from highly manual paper-invoicing processes to 99 percent of invoices being paper-free.
Automating the payables process through GHX ePay resulted in process efficiency, staff productivity and savings opportunities for Nebraska Methodist Health System.
Using OnDemand AP®, Children's of Alabama, centralized and automated its accounts payable processes, increasing productivity and efficiency with up to 90 percent of all invoices untouched.
Speed payments, increase efficiency and reduce costs with GHX eInvoicing. Read how Medline Canada cut postage costs in half and reduced manual labor by 83%.
HUMC's approach to cost containment in its procure-to-pay processes included new technology, process changes and an effort to drive collaboration among clinicians, departments, its GPO and suppliers.
By executing new e-payment policies and establishing internal processes, a large Mid-Hudson Valley health system was able to diversify its e-payment strategy. The result exceeded its goal--680% increase in rebates in year one.
Today, timely and efficient processing of invoices and their payments ranks among healthcare’s largest pains. Learn what organizations are doing today to meet this need and the related outcomes.
Learn how GHX Consulting can increase EDI volume through the GHX Exchange in 90 days. New to electronic invoices? That’s okay, we can help walk you through the process and navigate your MMIS to get you moving. No time to add more trading partners? We've got you covered.
Lisa Armstrong, Accounting Manager, discusses how GHX OnDemand AP® has helped Phoebe Putney drive greater efficiency, accuracy and visibility in the accounts payable (AP) department, enabling the organization to reduce AP staffing levels and capture approximately $300,000 in accruals that they had previously not found.
Timing in the cash cycle is critical to suppliers and providers in healthcare. Which is why getting alignment with your customers on a new payment platform requires a well thought out strategy, even when there are clear benefits. Hear about our e-payables journey - what was easier than expected, our approach to escalate participation, results so far and projections for the next phase.
