02 Mar What are Accounts Payable, Again?
Accounts Payable (A/P) represent the total amount of a practice’s financial obligations. Managing these obligations effectively and efficiently has a direct impact on the financial health of a practice, the quality of the staff’s work life, the practice’s reputation, and even the patient experience.
It’s not surprising, then that A/P systems and procedures are as important as they are complex. When they’re not managed properly, they can cause a variety of problems that staff doesn’t have the time, and more often, the professional expertise, to solve.
How Do You Get A/P Done Right?
This is where A/P outsourcing comes in. Professional-grade A/P saves time and resources, lowers cost and improves efficiency by solving:
- Payment delays
- Using too many resources in accounts payable processing
- Lost approvals
- Inefficient accounts payable workflow
- Duplicate payments
- Payment to invoice application issues
- Payable files to check register imbalances
Does Outsourcing Mean A/P is Out of Your Hands?
Not when you make the right outsourcing choice. You want a company that becomes a true partner. A resource for exceptional systems and processes that also gives you a dedicated team of experienced, dedicated revenue cycle management (RCM) professionals who are always there to provide you with hands-on support whenever you need it.
The Medusind Solution: Industry-leading Technology + Seriously Knowledgeable Humans
Our best-practice driven services and document management technology, combined with the hands-on support of our experienced Revenue Cycle Management (RCM) professionals will keep you in control of your payables.
Your Medusind team will:
Identify best payment methods
Onboard suppliers through multi-channel campaigns
Solve payment issues, resends, refunds, change requests, and supplier inquiries
Create automatic invoicing for all eligible invoices
Optimize by payment type
Implement trackers to help organize payable workflow
Handle check cutting and mailing needs including required documents if needed
Create positive pay files
Cross reference payable files to check registers to insure balance and accuracy on processes
State-of-the-Art A/P Starts Here
Medusind’s Accounts Payable Solution is backed by Laserfiche, a powerful platform that provides an easily-navigated invoice repository, accessed via desktop or mobile app, that captures content from scanners, email and web forms. With its intuitive search & retrieval feature, the platform ensures compliance with your existing invoice processing procedures, and meets regulatory standards for added security.
Find out more about Medusind Solutions and how professional A/P can help every aspect of your practice thrive.
