Operations & Revenue
Virtual AP Credit Card Payments
Today, hospitals must seek efficiencies everywhere. Manual accounts payable processes are worth examining, since automation can allow leaders to free up staff time to work on more complex processes.
Virtual credit cards allow hospitals to create new sources of revenue as an alternative to ACH transactions. Vendors that offer these services should specialize in healthcare, have teams dedicated to enrolling suppliers, offer monthly payments, and avoid disrupting treasury relationships. If your hospital already uses virtual cards to pay suppliers through your treasury bank, it may be worth exploring a secondary vendor that specializes in working with healthcare organizations to see if additional revenue can be obtained.
The CommerceHealthcare® virtual payables card enables health systems, hospitals, and physician practices to leverage automated, electronic payments and earn revenue through digital vendor payments.
This flexible payment management program is bank agnostic and works with your existing accounting system while also creating a new revenue stream and reducing operating costs. By converting paper-based payments to virtual card payments, healthcare providers gain operational efficiencies, fraud reduction, detailed reporting, and reduced expenses.