At SpendMend, we go above and beyond traditional cost recovery delivering Spend Visibility across an entire organization. We uncover hidden data and use our industry expertise to help find the root cause of Financial Leakage and provide a Path to Prevention - mending future loss.
A variety of reasons exist, but the fact remains the same: Financial Leakage is going to occur. How much is hiding? That’s the real question, and it will continue to occur unless recovery audits occur, but more importantly, processes are changed, systems are set-up, protocols put in place and workflows altered. That is what leads to minimizing leakage or even preventing it from happening in the first place.
Recovery audits exist to help find Financial Leakage made by mistakes or errors often a year after they occur and are just a small tool and short-term gain to get some of your dollars back. But the real problems continue to exist and leakage will occur again. Not until the “Dark Data” is truly analyzed and processes and systems altered will Financial Leakage truly improve. That’s where we come in, but not as a recovery auditor looking for a quick find. We audit, but our review also focuses on finding the root of the problems and how to change the processes for future savings. Our expertise and proprietary technologies are a new way of thinking about Spend Visibility and a more thoughtful, transparent approach to helping you truly impact Financial Leakage.
There are a number of reasons that over 50% of the nation’s healthcare facilities partner with us for their recovery audit needs. With over 1,000 years of combined experience, we are easy to work with and we get results.
Our auditors are employees not contractors. This allows us to maintain improved stability and security. Security is number one when handling our client’s data. SpendMend maintains redundant data centers that are SSAE 16 certified and HIPAA certified. We also engage SOC 1 Type 2 and SOC 2 Type 2 examinations and scope controls for these data centers. And we maintain an Information Security Policy for our employees, require training in HIPAA security, and use only non-contract employees to manage your data.