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November 8, 2018
Offering rebates and reimbursements may make a vendor an attractive partner for major health systems. However, if you aren’t monitoring these benefits, you could be leaving money on the table. For example, early-pay reimbursements are offered by vendors as a way to receive payments quicker while providing cost savings to their customers. A recent TAG client made the mistake of deducting the wrong amount from their early-pay invoice, which in turn cost more than $45,000. What Can Cause a Hospital to Lose Reimbursements? We’ve said it before, and we’ll say it again—proper vendor and contract management is crucial to a […]
October 15, 2018
Duplicate payments are a large issue in most hospital and healthcare systems. As a category duplicate payments make up the third-largest area in TAG’s hospital AP recovery audits. Often “dupe” payments occur through data entry mistakes, or human error. In one example, an invoice number was entered incorrectly, causing a $187,607 duplicate payment when a hospital later re-entered the invoice data correctly and made a second payment. It’s inevitable in manual processes: keying errors will occur. However, these types of errors can be reduced or mitigated by establishing and following standard practices. Six Tips for Hospitals to Reduce Duplicate […]
