PAIN RELIEF FOR
HEALTH CARE SYSTEMS
ACCOUNTS PAYABLE

Let HealthSpire transform your accounts payable with the implementation of an efficient ePayables solution.

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Cure Inefficiencies in Your Health Care System's Current AP Process

Health care systems are an industry focused on driving efficiencies, reducing costs and managing cash flow. Over the last five years, 63% of health care systems have been working diligently to upgrade their accounts payable systems.  Along with upgrading AP systems, CFOs and Financial Directors focus their attention on upgrading their accounts payable processes.

Accounts payable processes are typically centered around B2B payment terms standardization and optimization, automating processes, reducing and eliminating paper check payments and minimizing the number of actual payment runs each month. Health care systems have traditionally been supporters of commercial card payments for their suppliers. Commercial cards, particularly virtual cards, have been a welcome solution due to the fact this electronic payment type is highly secure and electronic, hence eliminating paper check payments.

Why Your Bank May Be Unable to Help

Health care systems have typically contacted their existing treasury bank to implement a virtual card solution for their supply chain. In the short term, this was a quick fix that offers immediate success, but these banks have not delivered on offering a long-term strategy for the entire supply chain, which includes “the long tail” (or, the small volume suppliers).  Most banks must monitor their efficiency ratios which means if your health care system does not have a 10-digit annual supply spend to support the bank’s revenue requirements, the bank will not assign a dedicated team or person to manage your virtual card program or ensure maximum accounts payable process efficiencies and supplier participation. The function of supplier outreach, marketing, and onboarding is now put on the health care system to lead all these efforts. These new roles are now an expense for your health care system and have proven to be frustrating and inefficient.

This is where HealthSpire can step in and guide your health care system on long-term payment strategies for the entire supply chain. 

 

How HealthSpire Can Help

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.  We call this process HealthSpire HEART.  

 

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HealthSpire HEART Analysis Process

 

HealthSpire HEART is defined as the analysis and diagnosis of a health care systems AP processes performed by our team of experts. This process is standard and part of the services we perform for all our prospective clients.

 

By making your AP processes more efficient, our HealthSpire HEART process identifies areas to help improve your health care systems payment efficiencies, provide a terms adjustment strategy, focus on reducing the number of check run days, reduce or eliminate paper check payments, slash direct accounts payable costs and generate a NEW source of earning revenue. 

Ready to Get Started? So Are We

 

Get started and turn your AP processes thorough a Supplier Opportunity Analysis (SOA) of the performance and payment processes of your Vendor Master data.

 

HealthSpire's experienced team will review, analyze and provide you with the best accounts payable recommendations to help your health care system continue to thrive and succeed. 

 

LIMITED TIME OFFER – now through August 31, 2018, HealthSpire is offering a discounted rate ($) to health care systems on the SOA! Fill out the form below and a HealthSpire expert will contact you within 24 hours. 

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Who We Are

HealthSpire provides health care systems and hospitals with a streamlined automated accounts payable process. We believe suppliers are the backbone of any health care organization and it’s critical to protect and nourish those relationships for overall success. We help health care systems' CFOs and AP departments pay their suppliers timely, faster and electronically to preserve those relationships and the people it serves. HealthSpire is a VSPIRE Health Care Payment Network. 

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