June 28, 2022

How to Map your Health System’s Procure to Pay Processes

Health systems lose millions each year due to process inefficiencies and errors throughout the procure to pay (P2P) process. Most of these lost funds are preventable, but teams are content, in a state of denial, or misunderstand the process. To bring awareness and begin to prevent leaking dollars, begin by creating a process flow map. What is Process Mapping? Process mapping, or process flow mapping, is the visual representation of how tasks are actually completed in a workflow. A process map brings visibility to who is involved in a process and sheds light on areas that need improvement. Thus, it […]
September 26, 2018

Effective Payment Optimization Can Add Millions in AP Savings

Over the past decade, we’ve seen a growing trend of accounts payable departments investing in technology and innovative process improvements to increase efficiency and reduce costs. Healthcare leaders are demonstrating they can save significantly on their overall AP spend, thus shifting the perspective that support organizations must be cost (not profit) centers. Unfortunately, many of the traditional investments and improvements in supplier payments fail to realize optimal savings potential. Recently, while analyzing large healthcare organization’s cash flow and payment processes, we discovered an innovative approach to payment optimization that quickly and easily maximizes savings potential without disruptive change to existing […]
Effective Payment Optimization Can Add Millions in AP Savings
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