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[wpc_custom_heading heading=”The IDS Solution – Creating A Path For Success” colored_line=”yes” size=”medium”]

IDS (Invoice Delivery Service) was designed specifically for Hospitals. Our offering features an electronic delivery platform that enables Hospitals to embark on a path of continuous improvements in Accounts Payable.

  • The process starts with removing as many paper invoices as possible, so that Accounts Payable processing is more accurate and less time consuming. What is novel is that invoice data is provided to Hospitals in precisely the format(s) required by their current Accounts Payable process, including both line-level data and a fully-indexed image copy.
  • The focus then moves to electronic settlement, enabled by IDS providing electronic remittance advices. While IDS is not a bank, it will work with each Hospital’s bank, or IDS’ partner bank, to move to electronic settlement.
  • Once the Hospital is electronic for both the inbound invoice and the outbound payment, Hospitals can focus on increasing their early payment discounts moving the Accounts Payable department closer to becoming a profit center.
  • Accounts Payable can be further enhanced by increasing the number of purchase orders that are communicated electronically, further improving the accuracy of invoices received from suppliers and providing access to electronic Order Confirmations and Advance Ship Notices through IDS to increase the 3-way match rate, further automating processing.
  • IDS is a transaction based service for both Hospitals and Suppliers requiring no upfront investment, and very little effort to engage (less than 15 hours).

Simply put, IDS affords substantial cost savings, process improvements, and improved business controls, in a manner that is measured, sequential, and above all, self-funding.

With IDS removing the traditional barriers, a goal of becoming 80%+ electronic across invoice receipt and settlement is now entirely achievable for any Hospital.

See How IDS Works