Obamacare requires Reduced Healthcare Costs through Purchase-to-Pay Automation

obamacare 150x150 Obamacare requires Reduced Healthcare Costs through Purchase to Pay AutomationBob Cohen, vice president of Basware, wrote in this post that  Purchase-to-pay technology enables real-time visibility into all purchases and invoices across an organisation. With this insight, healthcare companies can effectively manage spend and cash flow. They can drill down into the data to see exactly where their money is being spent and with whom, and identify savings opportunities, such as volume and early payment discounts.

Obamacare and Purchase to pay automation

He mentions an example of one large non-profit healthcare provider, by implementing AP automation was able to dramatically reduce costs, while improving processes and approval times with fewer resources.

While reducing healthcare costs is a global need, the spotlight is particularly focused right now on the U.S. market because of Obamacare. As part of this new health insurance system, efforts need to be made to make healthcare more affordable. That is why healthcare providers are turning to technology to find ways to dramatically cut costs and eliminate waste.

The benefits of purchase-to-pay automation and e-invoicing are undeniable and will play an important role in helping healthcare providers identify savings and reduce spend under Obamacare.

Go to the full post by Bob Cohen.

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