Adding Health to Your Bottom Line
Business Strategy, Inc. specializes in auditing the procure to pay process for healthcare organizations. We have recovered millions of dollars for hospitals and, more importantly, prevented millions of dollars from being lost. Our two-pronged approach of Recovery and Prevention clearly sets us apart from others in the Healthcare industry.
Business Strategy Knows Healthcare
- 700+ healthcare clients
- CAPA/CAPP Certified Auditors
- 98% client satisfaction
- In-depth knowledge of materials management, internal audit and accounts payable operations
- Knowledgeable staff dedicated to healthcare engagements
What We Recover
We identify recovery in several areas of the procure to pay cycle including: pricing, returned product, duplicate payment, escheatment, cash discounts, and more. With recoveries up to $1,000 per bed, our clients look to us for experience with identifying contract and pricing issues and dealing with suppliers. As a preferred healthcare supplier for several GPOs, we have access to historical pricing data which, combined with our contract compliance methodology, allows us to recover 52% more dollars than our competitors.
Our Audit Process
Business Strategy has a unique seven step audit process. We conduct a detailed discovery to ensure comprehension of the transactional flow from procurement through payment. Our seamless data acquisition process, with extracts for traditional ERP systems, allows us to quickly acquire necessary data for the audit. Our customized audit plan is developed by incorporating information learned in Discovery with our industry knowledge. This audit plan provides the road map for our review and an audit tool to provide weekly status updates. Our structured approach requires only limited interaction from our clients, typically 30 minutes per week to communicate status and review claims. IRIS, our online claim administration tool, gives clients complete real time access to claims and customized reporting.
Combining our industry knowledge and detailed audit plan with the industry’s only 100% accounts payable certified audit teams, we ensure our clients receive the best possible results every time. Upon audit completion, the Management Report provided details the BSI findings and provides recommendations to improve procure to pay processes and prevent future losses.
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