HEALTH TECHNOLOGY

Ver 2.0 of Hospital Purchased Services Technology Invoice Reconciliation Launched

VIE Healthcare | February 16, 2021

To provide data analytics, identify cost reductions, and to automate the reconciliation of hospital purchased services invoices, VIE Healthcare Consulting has a launched Invoice ROI 2.0 technology.

VIE Healthcare Consulting has launched a new update on a proven technology with the aim of examining hospital purchased services invoices for identifying overcharges and inaccuracies. reconciliation process is automated by Invoice ROI. This new update has enhanced patents and features, which is capable of generating millions of dollars

The launch has taken place based on the knowledge and experience of Lisa Miller, who has previously developed a technology for identifying expense reduction opportunities.

Purchased services invoices denote 45-50 % of US healthcare system and hospital non-labor expenses.

Invoices for purchased services area sort of time-consuming manual authentication as hospital monetary managers and branch managers inspect charges for agreement pricing mistakes and overbilling.

Invoice ROI excerpts line item particulars and settles invoices. The technology classifies cost discounts from off-contract charges or imprecisions, for example from erroneously applied votive terms.

The technology also mixes with analytics and benchmarking gears and provides data imagining.

Use of Invoice ROI consequences in intended line-by-line discounts in charges that can notify bill pay, bond negotiations, RFPs, and planned financial organization.

Hospital CFOs face unique challenges related to purchased services, which are billed after they are provided, as distinct from buying medical equipment or supplies.

Healthcare costs are tremendously mutable and complex, reliant on on mismatched systems, and subject to complicated contractual terms. Extreme fees, billing errors, manual dispensation costs, and off-contract expenditure are among the economic challenges that health care administrations face.

Adding to a modified database, the system makes reports that can be used to improve the supply chain, money or direct to vendors.

By recording overcharges, the Bill ROI automated settlement tool supports revenue improvement and margin development for healthcare systems and hospitals.

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