Need a safety net for your healthcare system ERP conversion? An AP ERP conversion recovery audit might be just what the doctor ordered!

If your healthcare system is going through an ERP conversion, you may want to strongly consider an Accounts Payable ERP conversion recovery audit. Any time there’s a change in technology, there’s a lot to keep track of. And while the changes and enhancements will provide increased efficiencies in the long term, it’s critical that existing gaps, inefficiencies and inconsistencies don’t get transferred into the new system along with everything else.

 

When is the best time to conduct an AP Recovery Audit for your healthcare system?

It’s ALWAYS a good time. An AP Recovery Audit helps increase operational efficiency, ensure supply chain accuracy and contract compliance, strengthen AP processes and procedures and improve your bottom line. However, when it comes to healthcare system ERP conversions, right before, during or even right after implementation is optimal. Here are a few reasons why:

1. Information in the new system is only as good as the information that goes into it.

We get it. Whether you are getting ready to undergo an ERP conversion, are in the midst of one, or just finished, there’s a lot to do and think about. Things can get lost in the shuffle and sometimes inaccurate vendor and AP data can be transferred from the old system to the new one. Finding inaccuracies and cleaning up and correcting legacy data before it’s transferred, can help eliminate the need to go back and forth between systems, mitigate loss and errors, recover funds and improve data quality.

2. Some things get lost in translation.

Data formats that existed in your legacy healthcare ERP system may not be adaptable or may be different from those in the new system. This can cause a variety of issues when integrating information, including incorrect or duplicate vendor numbers and invoices – to just name a few. Identifying these differences while also managing and reconciling legacy data before or during conversion can help save time and ensure that information is properly integrated into the new system.

3. Challenges like control gaps and inefficient processes can get in the way of a successful conversion.

Duplicate invoices and vendors entered into both old and new systems. Purchase orders created in the legacy system, while the new system is being used to process invoices. Inconsistent data entry policies and more. These are some of the things we’ve uncovered for our clients. Identifying and addressing these control gaps can help optimize processes and procedures, decrease process disconnects and vulnerabilities, set strong internal controls and help reduce the risk of errors and delays in system implementation.

Whether performed right before, during or just after your technology upgrade, an AP ERP conversion recovery audit can help set your healthcare system up for long-term success. By reconciling legacy data, and at the same time, monitoring new system data, an AP recovery audit might be just what the Doctor ordered – serving as a crucial safety net by mitigating financial losses and minimizing errors and disruptions across your healthcare system.

Share

additional posts you may like

Sales Tax Credit Case Study

Case Study: Sales Tax Credit

During the course of a full-scale AP recovery audit, Premier Cost Recovery discovered a multi-billion dollar regional healthcare system had not maintained its sales-exempt certificate ...
Purchase Orders are the unsung heroes of the healthcare accounts payable system

Purchase Orders – The Unsung Heroes of the Healthcare Accounts Payable System

Over the past ten years, duplicate payments represented the third largest PCR AP recovery by category. When used consistently and correctly, POs can be your ...

Can’t afford the time to track AP overpayments?

In today’s healthcare environment, every penny counts. Increasing expenses and regulatory requirements, and the ongoing labor shortage, continue to challenge hospital systems across the country. ...

Have questions?
schedule a free consultation.