We’ve written at length about the value of vendor maintenance and why it pays to understand how each vendor invoices and credits your organization. For as often as your billing team may make a payment error, the vendor may make a billing error that costs your organization thousands without you even realizing it. Our own John Martin’s tenacity with vendors helped recover a six-figure sum for one of our clients after discovering inconsistent pricing.
Keeping your vendor list well-organized and frequently reviewing it are the best ways to prevent errors like contract overpayments, duplicate payments, and missed discounts. For busy health systems, though, that may be easier said than done. The Audit Group specializes in reviewing your vendor processes and making strategic recommendations–without costing your team and productivity. Get started with our healthcare auditors today.