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.