Authenticate Vendors Before Ever Sending a Payment Because every vendor is validated and authenticated, you can feel confident about paying them through the Paymode network. In addition, over half of a given healthcare organization's vendors are likely already enrolled, allowing for quicker modernization while reducing vendor onboarding effort and risk. The rest of your vendor population will be authenticated and enrolled by Paymode.
Protect Against Fraudulent Account Changes Fraudsters often target vendors with the intent to steal credentials and then gain access to sensitive accounts, with bank accounts a particularly likely target. Paymode uses step-up authentication whenever a payer or vendor wishes to make an account change, including multi-factor authentication, biometrics, passkeys, and AI-aided pattern recognition to ensure only authorized users can make those changes.
Advanced Monitoring for Suspicious Activity The network is continuously monitored to ensure suspicious behavior is caught before fraud actually occurs. Paymode uses AI, machine learning, and human expertise to flag and prevent access from fraudulent vendors, account changes, logins, and other anomalies that healthcare organizations might struggle to catch on their own.
The Result: Every Payment Is Secured Payments occur in a closed network and with greater automation, limiting the work and cost for healthcare organizations while preventing fraud associated with more manual payment processes. 50% processing time reduction for most vendors and payers 50% cost savings for more than half of payers and vendors Zero fraud losses on the network
