How Healthcare Companies Solve Supplier Payments
From traditional healthcare organizations to telehealth and wellness companies, Tipalti offers tailored accounts payable automation solutions for overcoming the most common AP and vendor payment pain points that plague the healthcare industry.
Courtnay Santry | Controller, Sensei
“Partnering with Tipalti as our accounts payable solution was one of the best things we could have done.”
A payables process healthcare providers never think about
End-to-end payable automation that eliminates paper invoices for health systems. Say hello to a paperless AP workflow.
Touchless AP is a reality
Invoices are read through OCR for a straight-through AP process, including the entire approval cycle from invoice to payment. No more manual data entry.
Automate healthcare vendor supplier payments
Automation solutions that include a cloud-based, self-service supplier portal that’s intuitive and easy to use. Manage vendor relationships with ease.
Pay anyone, anywhere
Pay suppliers in 196 countries using 120 currencies in a matter of clicks. It’s an AP system that offers multiple on-demand payment methods.
Centralise payables operations.
Tipalti makes it easy to bring accounts payable controls and execution to businesses with multiple subsidiaries, supply chains, and business units.
A HIPAA-compliant solution that puts patient care first
Tipalti helps healthcare businesses achieve HIPAA regulatory compliance and operational efficiency. Speed up data capture and reduce processing costs all at once.
Hear from our healthcare customers
Sensei, a healthcare software company, has significantly reduced its accounts payable workload and streamlined vendor invoice management by partnering with Tipalti.
The team at Therabody took out 60 hours a month that was spent on accounts payable work.
Acuity Eye Group automated invoice processing across 12 subsidiaries and 50 locations without hiring additional staff–using Tipalti as their AP automation solution.
Why trust Tipalti as your healthcare accounts payable solution?
Eliminate Manual Processes
Manual processes lead to partner payment errors. Dramatically reduce payment workload by 80% with self-service onboarding, automated communications, and a unified payment processing interface. A business can reduce inefficiencies, payment errors, duplicate payments, and potential fraud.
Pay Suppliers Anywhere
Offer more payment options than anyone else. This includes US ACH, wire transfer, global ACH, PayPal, prepaid debit, or paper check. This helps to retain the best suppliers and contractors to improve your service quality, while reducing the risk of fraud. They can also be paid in their local currency.
Add Financial Controls
Ensure invoices are approved by the right signatories and payment execution is signed off by key executives. Tipalti provides deep financial controls to secure payables activities and add to your bottom line.
Don’t wait until year-end to hunt down suppliers for their tax forms and eligibility. It’s a time-consuming process. Instead, automatically collect W-9, W-8 series, or VAT ID forms and produce submission-ready 1099 and 1042-S reports.
Worried about HIPAA? The Tipalti platform also complies with all HIPAA laws that are required and applicable. Compliance is built into the system. Tipalti signs a BAA with customers that is subject to HIPAA as a covered entity or business associate. It also submits PHI to the services as customer data.
Tipalti’s ERP Integrations with Top Healthcare Accounting Software
Curious how Tipalti will fit into your current operations? It’s a payment system that seamlessly integrates with top healthcare accounting software, making setup and AP workflows a breeze.
How Healthcare Companies Use Tipalti for AP Automation and Vendor Payments
Suppliers login into a self-service secure web portal
- They provide identity, payment details, and tax information (e.g. W8, W9, VAT).
- Tipalti verifies payment details using over 26,000 rules.
- The portal provides updates on payment status and allows for self-service changes.
- Healthcare organizations can leverage Tipalti’s AP software to streamline any part of the procure-to-pay process.
Suppliers can submit invoices directly or bills can be synced from ERP
- Suppliers can email invoices or upload them directly from the Supplier Hub web portal.
- Tipalti integrates with your enterprise resource planning system, performance tracking data through the Tipalti API, or accepts a payment instruction file.
- Tipalti AI routes invoices and payment instructions to the organization’s approvers.
Payments are scheduled and sent
- Once approved, Tipalti routes payments internally to secure approvals, ensuring funds exist, and using the supplier’s chosen payment method (e.g. ACH, wire transfer, PayPal, etc.).
- The AP department no longer has to log into individual bank portals or reconcile payments from across multiple accounts.
- Tipalti sends the payments out through the proper banking channels.
- Tipalti alerts payees of payment status and reports any issues to them if funds don’t land.
- Payments and transaction fees are fully reported for reconciliation in real-time to the ERP.
Innovation and efficiency
Tipalti offers the most comprehensive payables technology to help your
business streamline, simplify, and evolve.
Let’s get more productive
Talk to an expert and learn how you can take control of your payables.