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Paymode-X Payment Network for Healthcare

Leverage the payment network that has over 385,000 Vendors already enrolled to quickly convert AP checks to electronic and earn Dividends.

Watch Video Paymode-X for Healthcare

Anchor: Overview

The Challenge

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.

Our Solution

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.

Anchor: Resources

Datasheet

The Paymode-X Intelligent Engagement Model®

eBook

How Paymode-X Helped 3 Organizations Reduce Costs, Earn Rebates and Boost Efficiency

Brochure

Paymode-X – The Vendor Payment Network of Choice for Leading Healthcare Organizations

Anchor: Benefits

Benefits

Benefits for Payers:

  • Convert costly, fraud-prone paper checks to secure, electronic payments
  • Leverage the Paymode-X network and world-class Vendor onboarding services to enroll, support and maintain Vendors, reducing the burden on AP staff
  • Eliminate the risk of validating and storing Vendor bank account details
  • Provide Vendors with a choice of remittance formats and satisfy Vendor requests with Vendor support
  • Earn Dividends on more AP spend

Benefits for Vendors:

  • Receive fast, secure electronic payments instead of paper checks
  • Get detailed remittance in a variety of formats
  • Maintain bank account information within the secure Paymode-X portal, and keep details hidden from Payer view
  • Electronically exchange key business documentation with clients including W-9s and insurance documentation
  • Monitor, track, and report on payments and trading relationships
Benefits and Average Costs
Anchor: Functionality

Functionality

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.

Anchor: Testimonial

Customer Testimonials

"Paymode-X is bank-agnostic, and the network did all the work to enroll the Vendors. In addition, we liked the fact that the vendor doesn’t have to do anything. The money just ‘appears’ in their account, and the remittance is delivered electronically. Really very efficient."
Tom Paget, Controller, Greystone Healthcare Management
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