Buyers Guide to Paperless AP within Healthcare
A Buyer’s Guide to Paperless AP within Healthcare
Several factors are driving a shift in the AP departments of healthcare organizations. Disputes and discrepancy resolution sidetrack finance office staff and reduce productivity. Invoice approvals take too long, and delays can mean forfeiting substantial payment discounts.
Paper requisitions, invoices and receiving documents are intimidating on their own. In reality, they represent inefficient processes, wasted staff time, and compliance requirements that threaten to grind the healthcare payment cycle to a halt, and that’s even more frightening.
PayStream Advisors’ research indicates that significant change is underway. Invoice and payment automation solutions that automate manual tasks, reduce errors, and accelerate the invoice receipt-to-pay cycle are gaining popularity. These automation opinions not only reduce processing costs, but also free AP staff to focus on more value adding activities, such as negotiating early payment discounts, investigating and resolving exceptions, and minimizing duplicate payments.
This whitepaper was designed to provide an overview of Healthcare ePayables solutions available today that can streamline and optimize the invoice and payment management processes at hospitals and other healthcare facilities.