In the complex world of healthcare finance, VigilantPay (VP) stands as a beacon of efficiency and accuracy. By leveraging its unique ability to retrospectively analyse payments for both creditor and Payroll Batch files (ABA files), VigilantPay addresses critical issues that can save organisations from significant financial losses.
Many healthcare organisations struggle with the intricate financial relationships of their staff, particularly when medical professionals contract for some services while drawing a salary for others. The separation of billing systems often makes it nearly impossible to detect duplicate or erroneous payments, leading to potential overpayments and financial inefficiencies.
VigilantPay's powerful analysis capabilities come into play during the implementation and training process. VP meticulously reviews an organisation’s historical data, detecting anomalies and identifying industry-specific patterns. This functionality proved invaluable recently when VP assisted a healthcare provider in identifying overpayments. VP detected that certain medical staff members were being compensated for more billing units than their potential workload, an issue that arose because the same bank accounts appeared in both creditor payments and payroll. By cross-referencing these payments, VigilantPay quickly flagged the discrepancies, highlighting potential overpayments.
By identifying and rectifying overpayments, VP saved the healthcare organisation from significant financial loss. VigilantPay’s thorough analysis ensures payments are accurate, reducing the risk of errors. The detection of anomalies helps streamline financial operations, freeing up resources for other critical tasks. VP’s ability to detect industry-specific patterns provides tailored solutions, enhancing the overall financial health of the organisation.
VigilantPay is more than just a payment analysis tool; it is a trusted ally in the financial management of healthcare organisations. By safeguarding against overpayments and improving operational efficiency, VigilantPay proves that it truly has their back.