Product Watch

Reducing Invoice costs in Healthcare supply chains through GHX OnDemand AP

The OnDemand AP(SM) solution by GHX is being used by a growing number of healthcare providers to automate and streamline their accounts payable processes, reducing invoice processing costs and cycle time, and improving internal controls and cash flow management. Hospitals, with use of the OnDemand AP, can receive 100% of their invoices electronically, even from suppliers who do not currently support electronic invoicing. They can further reduce invoicing processing costs by more than 80%, by eliminating the need for manual data entry and accelerating invoice approval, hospitals can reduce invoicing processing costs by more than 80%. It is a software-as-a-service (SaaS) solution that addresses one of the biggest challenges in the healthcare supply chain today–a heavy reliance on labor-intensive paper invoices. Hospitals report that they can reduce costs associated with processing an invoice from an average of USD14.78 to USD2.51 by converting invoices from manual to electronic. With enhanced functionality from OnDemand AP, GHX estimates the costs can be further reduced. UPMC, an integrated global health enterprise headquartered in Pittsburgh, Penn. Before using OnDemand AP, UPMC was receiving approximately 60% of its invoices electronically. With increased productivity, UPMC has been able to shift resources to more strategic-based supply chain activities.

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