Examining how to turn AP departments into revenue centers and sources of strategic advantage.

Don't Fear Point of Sale

Many hospitals could significantly increase their electronic payments program if they allowed certain suppliers to be paid at the point of sale. We have found that the average growth hospitals can achieve with POS is 20%.

The key is to leverage an integrated payment platform that incorporates POS. An integrated platform can provide purchasers with an online portal that issues them with virtual card numbers. These virtual card numbers are issued based upon process rules established by the accounts payable department. This allows the hospital to maintain internal controls while generating additional incremental rebate revenue.