Many organizations within the healthcare industry suffer significant financial leakage. The problem persists because hospitals and health systems face constant organizational change while managing highly complex internal environments in an effort to remain compliant with controls and regulations.
Unfortunately, these organizations lose millions of dollars annually due to completely avoidable errors. This unchecked loss of bottomline revenue persists due to lack of visibility, operational inefficiency and resource mismanagement. SpendMend can help.
Watch our Recovery Audit overview video and discover how SpendMend can help you to gain more insights and visibility into your hospital’s entire procure-to-pay process.
For 25 years, SpendMend has served over 2000 hospitals across 250 healthcare systems delivering a unique suite of solutions to help hospitals reverse financial leakage. By partnering with hospitals, applying over two decades of industry knowledge, and reviewing the dark data in health systems, SpendMend drives over 3X the value of alternative recovery audit providers.
Proprietary searches to uncover and validate duplicate payments
Automated outreach and OCR to ensure maximum statement credits
Price-change monitoring to help ensure contractual terms
24/7 access into an online portal for visibility into results and reports
A robust suite of reports from day one to drive improvements
Offsite workforce will not require client staff, time or resources
Based on input from over 250 Healthcare Systems since 1995:
SpendMend delivers $1.25M per every $1B spent in annual AP disbursements
SpendMend delivers in-depth Root-Cause Analysis for all claims
SpendMend clients enjoy a 59% rate-of-error reduction within 2 years
Hospitals report steep process improvements due to SpendMend
Hospitals reduce resource drain through SpendMend's recommendations
Hospitals negotiate more favorable terms by leveraging audit insights
We offer a proven suite of analytics that provides actionable insights, allowing you to make strategic decisions that save money and improve operations. SpendMend uses insights from your organization as well as from your vendor population to help you retain more revenue while gaining unparalleled visibility into your spend data. Because of our elite capabilities we can pinpoint control gaps and provide opportunities for improvement.
SpendMend’s innovative process appears to leave no stone unturned and has identified and recovered significant dollars.
The SpendMend Client Portal allows me to review claims whenever I want – 24 hours a day – on my schedule; and without receiving stacks of paper, which makes the distance between our offices no problem
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.