Determining taxability on purchased items and services within the healthcare industry can be a confusing and time-consuming effort. Every state has its own unique complicated tax requirements and they seem to change all the time. Failing to uphold the standards can lead to millions of dollars in loss and countless hours of non value-add labor trying to reconcile accounts.
SpendMend is ready to take on the burden of navigating these extensive and ever-changing rules. We analyze the taxes paid to vendors and taxing authorities to identify refund opportunities, validate that all exemptions or credits have been claimed, and negotiate and secure tax refunds. Ultimately the SpendMend Sales & Use Tax Solution will help you to:
Representation with the State Tax Authority during a Sales & Use Tax audit
A quarterly review of sales taxes that have been paid to distributors
Metrics and analytics on overpayments for every category and service
Thorough review and assessement of the hospital's item master
Control recommendations to prevent future overpayments and errors
Support with dispute settlements related to mis-interpretations and errors.
Clients recoup over-paid taxes and prevents future payment errors
SpendMend cleans the file and perform on-going analysis and maintenance
SpendMend simplifies the management of an otherwise complex process
SpendMend trains client staff on best practices and next steps
SpendMend is an advocate that you can count on and call upon
Clients reduce the risk for overpayments, penalties, fees and waste
SpendMend’s innovative process appears to leave no stone unturned and has identified and recovered significant dollars.
Not only did failures in a previous audit firm’s process result in lower recovery, but also some of the ‘claimed’ recovery dollars had to be paid back to vendors due to rejections. SpendMend has worked with vendors to ensure accurate, valid, approved claims; with better results.
SpendMend is a non-intrusive asset and great to work with; they build relationships with their clients and truly understand the Procure-to-Pay process.
If our team is finding money from recovery audits then I know there are many other non-profit hospital systems that would find value in executing this work as well.
I think the SpendMend staff is top notch and very professional and very knowledgeable. I work hand in hand with your people and I think you have great people and a great culture.