Healthcare organizations are pressured to cut costs and streamline back-office operations while managing large, complex supply chains. Paper-intensive AP processes create inefficiency, excess cost and risk. Hospitals often recognize the benefits of converting paper AP checks to ACH but are hindered by an inability to meet vendor requests for electronic remittance advices, technical challenges and the vendor onboarding workload.
By joining the Paymode-X payment network, healthcare organizations connect to other members who have streamlined their payment and receivables processes, boosted productivity and reaped cost savings. Payers use Paymode-X to make electronic payments, mitigate fraud risk, reduce paper and labor-intensive processes, and earn cash rebates. Paymode-X's proprietary Intelligent Engagement methodology takes the burden of Vendor ACH enrollment and bank account maintenance off of the AP staff, and drives the ultimate in electronic payment adoption and cash rebates. Vendors enjoy an easy-to-use system that empowers them to manage their online payment profile, provides better visibility to upcoming payments and delivers electronic remittance advices in their preferred format.
Benefits for Payers:
Benefits for Vendors:
Paymode-X is a cloud-based payment network that delivers prompt, secure electronic payment information to more than 360,000 participating organizations. Healthcare organizations often find that more than 30% of their trading partners are already enrolled, which accelerates their move to automated payments. Paymode-X's proprietary Intelligent Engagement methodology further segments, enrolls and authenticates Vendors to migrate even more payments to electronic. By integrating with existing ERP systems and leveraging existing bank relationships, Paymode-X creates a powerful network between healthcare organizations and their vendors -- today and as business needs grow and change.