Premier Cost Recovery was contracted to conduct an AP recovery audit to recoup any overpayments and lost funds in the procurement to payment cycle for a billion dollar regional healthcare system. An accounts payable recovery audit had not been completed for years and in light of the client’s change in GPO providers two years earlier, the supply chain consulting firm recommended Premier Cost Recovery for a full-scale AP recovery audit. Working with each vendor directly, PCR recovered more than $220K in combined pricing credits for our client.
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.
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.