Keying Policies Can be the KEY to Reducing Duplicate Payments for your Healthcare System

Keying policies can be the key to reducing duplicate payments for healthcare systems

When it comes to duplicate payments, the devil is in the details. And in this case, the details are all the common errors that can pop up when your team is entering accounts payable (AP) data and supplier information into the system. Even with basic ERP validations, these errors can quickly add up and cost your healthcare system thousands of dollars each year in the form of duplicate payments. While keying mistakes are bound to happen, there are a few things you can do to mitigate data input errors and promote accuracy.

Uncovering the Advantages and Disadvantages of Blanket Purchase Orders

Uncovering the Advantages and Disadvantages of Blanket Purchase Orders in Health System AP and Supply Chain Processes

While you may have heard that blanket POs are a big “no-no” when it comes to health system AP and Supply Chain processes, there are circumstances where they do make sense. The key is knowing when and how to use them effectively. We took a look at our data over the past ten years and came up with the following do’s and don’ts for blanket POs.

How to Choose Healthcare Accounts Payable Recovery Audit Contractors: 5 Things That Matter

The right accounts payable recovery audit contractor can assist in identifying and recuperating funds lost in the procure to pay process. A well-selected provider should not only recover lost overpayments but also contribute to the overall efficiency and compliance of your healthcare financial operations. Five essential factors should be considered when you’re ready to choose your audit firm: industry expertise and experience, communication and responsiveness, technology capabilities, level of self-sufficiency, and the firm’s approach to data gathering.

What is an Accounts Payable Recovery Audit?

An accounts payable recovery audit is a comprehensive review of procurement to payment transactions. The purpose is to recover funds sitting with vendors due to a variety of overpayments. Premier Cost Recovery generally recovers $1000/staffed bed in a typical healthcare system.