Learn About HealthSpire
Your Health Care Systems ePayables Partner
We, at HealthSpire, believe suppliers are the backbone of any health care organization and it's critical to protect and nourish those relationships for long-term company success. We help guide health care systems CFO's to pay their suppliers timely, faster and electronically to preserve those relationships and the people it serves.
HealthSpire’s story began in the fall of 2014 when I sat in the boardroom with the CFO and Accounts Payable manager of a health care system in the south-east region. I was consulting for other companies at the time about electronic payments and educating such solutions to different health care systems to Fortune 1000 organizations. As I sat in this executive meeting, I listened to the financial challenges of this health care system from the CFO and how they struggled with managing supplier payments inefficient ways and were always seeking ways to increase cash flow.
The purpose of our meeting that fall day was to present the financial benefit, and the impact of our analysis of the Systems vendor master spend file. One essential item that stuck out was the System was paying thousands, yes, thousands of their suppliers immediately. Those supplier’s payment terms were Net 0. Ouch! I asked the CFO, “why is your System paying over 2,000 suppliers at Net 0 terms?” I could see by the stunned look on his face he was not aware of this and was a pain point. Before the CFO could answer the Accounts Payable Manager interjected and explained how proud she was that she pays suppliers as quickly as possible, so they don’t call her to complain. Double ouch! This is where I had my 'aha' moment!
Owner and founder, Leslie Backus with Sarge, HealthSpire's Director of Security.
I immediately realized there is a disconnect between the executive leadership team focused on driving health care system financial goals seeking stability and growth and the accounts payable teams policies and procedures and making changes ‘on-the-fly.’ This is where the idea of HealthSpire was born.
With my 25+ years of experience working with corporate financial executives, who all sought solutions to increase days payable outstanding (DPO) and generate new sources of earning revenue, I saw a resolution that would work for health care systems. By defining a payment terms adjustment strategy, and having an overall holistic approach to contributing to meeting company financial goals, I could help bridge these gaps and deliver a first-class ePayables solution that will positively benefit health care systems.
Metro Detroit (Michigan) is the proud home of HealthSpire.
- Written by founder & president, Leslie Backus
Our Team of electronic payment experts is not only knowledgeable about epayables and other payment modalities, but we know health care too. Our holistic approach to defining AP Best Practices for our client's health care systems to ensure we leave no rocks unturned. From achieving faster payments to your suppliers to serving the people in our client's communities our Team undercovers solutions that's costing health care systems money.
Work With Us
HealthSpire will work with your health care system to design a unique ePayables solution that will maximize the effectiveness of your virtual card program. HealthSpire uses a methodical step-by-step consultative approach to guide health care systems through a solutions-oriented way to improve existing accounts payable processes. Learn More >>
Questions? Comments? General inquiries? We want to know. Reach out to us and one of our experienced team members will respond as soon as we can.