Tired of rifling through manually processed and hand-filed invoices, AnMed deploys intelligent invoice capture to rapidly capture, retrieve, and share invoices electronically.
AnMed Medical Center attracts patients from across upstate South Carolina and Georgia for advanced medical treatment, acute care procedures, outpatient surgery, and diagnostics. AnMed facilities include a 495-bed medical center campus, a specialty inpatient center, additional campuses and facilities in Anderson and Pickens, and more than 60 physician practices. Combined with more than 370 physicians and over 3,600 employees – AnMed produces a lot of care, and a lot of paperwork.
At the onset of Team KeyMark’s longstanding partnership with AnMed, the healthcare system’s accounts payable department processed over 6,000 monthly invoices which was comprised of 60% manual/check request invoices and 40% purchase order (PO) invoices.
Their problem: Manual invoice processing and retrieval
With an escalating number of invoices to process for one department – and no easy way to do so – AnMed’s AP team was taxed by the monumental effort of hand-processing every invoice and filing them in appropriate vendor file folders.
Unfortunately, this manual process not only cost AnMed many grueling hours of labor but also put invoices at a high risk of being misfiled. Similarly, retrieving invoices had become impossibly complex.
“We have many end users that regularly request copies of invoices,” reported AnMed’s AP manager. “These include financial analysts, accounting department employees and managers, directors and vice presidents of other departments throughout the system. We spent a lot of time retrieving invoices and sometimes couldn’t find them because they’d been misfiled or lost, which was frustrating to both our accounts payable staff and our end users. We knew that we needed to find a solution that would speed up our processes, make us more efficient, and enable us to provide better service to our end users.”
Our solution: Intelligent invoice capture
To help address the labor-intensive tasks growing within the accounts payable department, AnMed partnered with KeyMark. KeyMark quickly engineered an intelligent capture configuration designed to identify and parse key invoice data as invoices first appeared in the system whether via email, fax, webservice, or e-file. Additionally, existing paper-based invoices were scanned and digitized, diminishing paper print and storage costs.
As invoices are captured, extracted data is classified and indexed into OnBase, Hyland’s flagship enterprise content management system. This step ensures that invoice data is easily searchable by grouping invoices with coordinating purchase orders, check requests, or other documentation. The seamless integration of both solutions with AnMed’s existing accounting systems eliminates the risk of misfiling invoices and dramatically improves invoice retrieval speed.
Results: A highly efficient accounts payable team
With invoices automatically captured and processed at ingestion points, AnMed has eliminated the need for printing and filing invoices, freeing their AP team for more productive and less tedious work.
AnMed is also able to protect itself from compliance trouble by providing auditors with controlled login access to necessary images and invoices without the need to manually search and present files. The addition of a 360-degree content repository like OnBase provides AnMed with a safe and secure way to store invoices following the many regulatory policies present in healthcare.
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