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
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.
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.
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.