How Paymerang is Making Automation Accessible for Rural and Small Hospitals and Lending Support Through Financial Challenges
Paymerang, a leading innovator in Accounts Payable (AP) Automation, is committed to helping small and rural hospitals overcome the immense economic pressures they face today. By offering a no out-of-pocket cost Payment Automation solution, Paymerang helps small and rural hospitals offset financial instability and successfully navigate economic uncertainty.
According to Beckers Hospital Review, an estimated 43% of rural hospitals in the United States currently have negative operating margins, and the Center for Healthcare Quality & Payment Reform reports that nearly 30% of all rural hospitals are at risk of closure. Hospital closures can have a damaging effect on residents in these areas, including the loss of jobs and limited access to medical care.
Rural hospitals that use manual accounting processes experience higher processing costs, more security and compliance risks, and burnout in their accounting departments. We understand that small and rural hospitals are struggling to find and maintain finance team members and are being tasked to do more with less. Paymerang helps alleviate these challenges by eliminating tedious manual processes and significantly reducing paper check usage. By automating repetitive tasks, rural hospitals can streamline operations, improve their bottom line, and focus more on the revenue cycle and other strategic initiatives directly impacting their organization.
Paymerang serves healthcare clients nationwide. Since 2010, we have processed billions of payments for healthcare clients. We have also established strategic partnerships with several major hospital associations across the country, including the Wyoming Hospital Association, North Dakota Hospital Association, Mississippi Hospital Association, Texas Hospital Association, Nebraska Hospital Association, Center for Health Solutions, and the Massachusetts Health & Hospital Association.
Small and rural hospital AP departments leverage Paymerang to achieve greater efficiency, saving up to 80% of time spent on payment processing and enabling five times more payments to be processed in the same amount of time. With encrypted account data, multi-factor authentication, and a world-class security team, Paymerang enhances security and helps hospital finance teams better mitigate the risk of fraud, all while reducing costs by 80%-90%, improving their profit and loss (P/L) statements.
Paymerang understands the unique challenges small and rural hospitals face, which is why our team has developed a program geared towards supporting them through these challenges. Our solution offers an easy-to-use platform and seamless implementation, taking on average less than 10 hours of your staff’s time. The solution works seamlessly with most healthcare accounting systems, including Meditech, CPSI, Workday, People Soft, Lawson, Cerner, Epic, Multi-View, Sage Intaact, Matrix Care, QuickBooks, Blackbaud, and more.
To get started with Paymerang, please contact sales@paymerang.com or schedule a demo.
Sources:
1CHQPR: Rural Hospitals at Risk of Closing
2Beckers Hospital Review: 43% of rural hospitals are in the red: 6 things to know
