The current economic environment combined with the COVID-19 pandemic has put healthcare finance leaders in a new and very challenging position. Recent studies have found hospitals with more than 100 beds will average more than $1 billion in daily losses. Revenue loss for the entire industry is estimated to reach at least $323.1 billion this year. Finance leaders are now tasked with quickly finding new or additional revenue sources to help relieve tightening operating margins and cash flow. Luckily for many healthcare providers, there are ample revenue opportunities in accounts payable, if you know where to look.
CommerceHealthcare® & Strategic Audit Solutions have joined together to present a timely webinar examining how finance leaders are uncovering alternative revenue streams through supplier payment processes.
In this webinar we will discuss:
• Supplier payment best practices, including strategies that deliver high impact through low investment of resources.
• How to optimize supplier payment processes with reduced staffing or an increasingly remote workforce.
• Steps to reduce paper processes to improve back office and accounting efficiencies.
• The COVID-19 crisis has exposed additional financial risk in the P2P transactional cycle leading to increased supplier overpayments and errors.
• How to minimize the impact of supplier payment errors and exposure to the risks associated with overpayments.
• The importance a risk assessment or spend file analysis plays in identifying additional revenue streams.
Complete the form to reserve your seat for this informative webinar.