Based on a survey of 100 senior finance decision makers working for healthcare suppliers in North America. The survey shows the importance of automation in accounts receivable performance and support for working capital management.
Forward-thinking professionals are embarking on a strategy to improve receivables with greater end-to-end visibility and accelerated cycle times. Driving Performance Through Automation, a report based on an Institutional Investor Research survey of 100 finance executives, explores the growing financial pressure on healthcare suppliers to improve cash and working capital.
The more quickly invoices are delivered and customer inquiries are resolved the faster you get paid. GHX's invoice and payment solution answers the order-to-cash challenges providing choice and greater control for suppliers.
The existing ways to get paid are limited and force a trade-off between speed and efficiency versus cost. ePay uniquely addresses your payment goals: reduce payment fees and DSO, gain visibility into cash position, and improve customer relationships.
GHX and Harte Hanks partnered to create this discovery into the true cost for suppliers to get paid today. The paper explores accounts receivable cost improvements and the opportunity cost of DSO and quantifying the time value of money.
Using results from a Total Economic Impact™ (TEI) study, Forrester Consulting reports findings after examining the potential return on investment a healthcare supplier may realize by deploying the GHX Exchange, and related products and services, to automate the order-to-cash cycle. Read the final Forrester report here.
Upon discovering that credit card fees from customer payments were one of the largest selling general and administrative (SG&A) costs, a large medical device manufacturer embarked on a program to address this area of significant margin erosion, implementing GHX ePay. The first year resulted in cost avoidance and hard dollar savings over $20M from reduced credit card fees and DSO stability.
GHX joins with Medtronic in this timely webinar to reveal new opportunities for driving efficiency into payment processing. With a single processing channel suppliers can offer multiple payment options to customers, find ways to reduce fees and introduce automation into payment processing for greater efficiency.
Sumur Underhill, Customer Service team lead at Stryker, shares how Stryker underwent a channel consolidation project with GHX for touchless transactions. Through automation, resources formally dedicated to labor-intensive data entry and invoice processing, can now be reallocated to one of Stryker’s highest priorities — servicing customers at the highest level possible.
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.