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 advice, 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 Dividends. The Paymode-X Intelligent Engagement Model® takes the burden of Vendor enrollment and bank account maintenance off of the AP staff, and drives the ultimate in electronic payment adoption and Dividends. 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 advice 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 385,000 participating organizations, processing over $200 billion annually. Healthcare organizations often find that 40-50% of their targeted trading partners are already enrolled, which accelerates their move to automated payments. Guided by the
Paymode-X Intelligent Engagement Model®, Vendors are segmented, enrolled and authenticated to migrate even more payments to electronic. Integrated supplier onboarding and campaign management across multiple payment types facilitates the highest adoption and revenue.
An innovative and agnostic business payment solution, Paymode-X integrates with any ERP system(s) and leverages existing bank relationships, creating a powerful network between Payers and Vendors – today and as business needs grow and change.
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