October 18, 2020
Collecting your vendor statements is essential to holding healthcare vendors accountable and ensuring the accuracy of pricing, inventory, supplies, and services received. Reconciling vendor statements allows your Accounts Payable (AP) department to monitor accounts and prevent potential credit holds. Statement collection may be the only way to capture missed credits that were not correctly sent to your organization. Periodic statement collection ensures you capture all available credits, preventing vendors from unauthorized use or escheatment to the state, and saving your AP team from time spent chasing unclaimed property. While the benefits of vendor statement collection are vast, health systems do […]
