When businesses need to make payments to consumers, there can be inconveniences on both sides of the transaction. Inefficiencies with traditional payment methods, such as wasted time and unnecessary costs, cause frustration for both payors and payees. Setting up systems to deliver payments for things such as incentives and rewards, rebates, insurance claims, legal settlements or health care patient refunds can create managerial headaches and expenses. Manual payments must be generated, tracked and…

When businesses need to make payments to consumers, there can be inconveniences on both sides of the transaction. Inefficiencies with traditional payment methods, such as wasted time and unnecessary costs, cause frustration for both payors and payees. Setting up systems to deliver payments for things such as incentives and rewards, rebates, insurance claims, legal settlements or health care patient refunds can create managerial headaches and expenses. Manual payments must be generated, tracked and…

In late 2022, CommerceHealthcare® published its annual assessment of leading issues and opportunities influencing providers. The report, Healthcare Finance Trends for 2023 – Multiple Intersecting Challenges, offered eight themes in four overarching categories: Financial. Patient financial experience. Digital transformation. Building trust. Four financial themes were prominent in the year’s first half. Chasing elusive profitability The median hospital operating margin turned positive…

In response to an onslaught of unpredictable challenges over the past few years, businesses are looking for innovative ways to improve efficiency. Payment automation is a digital solution an increasing number of companies are adopting. Automating an accounts payable system isn’t a single change though. Instead, it may include analyzing a business’s current systems and processes and implementing various new technologies, such as a cloud-based system for submitting invoices and receipts, software…

The growth trajectory of a business can be disrupted in many ways. Here are some strategies that can help you navigate everyday challenges and opportunities, as well as the tectonic shifts that can make or break a business. Be prepared Owners who stay current on issues affecting the economy, their market and their customers are better prepared to address changing conditions. They know when to adjust a product line, streamline a process or find a safer, more efficient way to pay invoices. Paying…

According to Pew Research Center, 42% of U.S. working women say they’ve experienced on-the-job gender discrimination. Discrimination can take many forms, including lower wages, fewer career opportunities and different attitudes toward motherhood, among others. Even well-intentioned business owners can create unintended roadblocks to women’s success. Here are five things you can do to help empower women in your workplace. 1.Diversify your leadership. No matter the size of the business, the glass…