Medical practices and surgery centers with multiple locations can deal with a significant administrative burden when it comes to payables:

• Invoice receipt at multiple locations makes approvals difficult
• Significant invoice volume can put a strain on back office resources
• Tracking down and researching the status of invoices is time consuming

For Medical Practices and Surgery Centers that have multiple branches and locations, Payables Lockbox allows for a centralized location for receipt and initial processing of invoices. The routing of invoices from the various on-site locations to the main office can result in invoices being paid late or even lost, which can cause significant late fees. Payables Lockbox eliminates these issues by providing one centralized receipt location where the extraction, sorting, and processing of invoices can be done for them.

In the past several years, medical groups and practices have moved to paperless insurance claim processing and receivables lockbox to reduce some of their back office costs. Payables Lockbox is the perfect solution to moving to a paperless process for their payables. The Payables Lockbox service alleviates most of this invoice processing burden by receiving, imaging, sorting, and even performing some data extraction, such as identifying the location, vendor, invoice number, amount, and relevant dates. This only leaves the office manager and controller with the simple task of reviewing the invoice image online and approving it for payment.