Inworks® the leading financial services company specializing in revenue-generating AP strategies for hospitals and healthcare systems, today announced expansion of its Intelligent Pay electronic payment platform. Technological upgrades to the service, including the Inworks Connect private network, now offers healthcare suppliers greater selection of payment methods and enhances hospital/supplier payment relationships.
Inworks Connect private network benefits hospitals and their suppliers
Inworks Connect provides a complete range of services for secure electronic payment and remittance, to best suit the financial needs of healthcare systems as well as their suppliers. With the addition of Inworks Connect, the company's range of services now includes two buyer initiated payment (BIP) options as well as a range of other credit card payment methods. Because Inworks Connect is a private network, not a credit card transaction, funds go directly and immediately to each supplier's bank, ensuring the fastest, most reliable and most secure method of payment. The network is also a dynamic discounting payment solution, enabling Inworks healthcare suppliers to take advantage of discounts on early payments, via Inworks funding. The funded early pay service improves cash for both hospital and supplier.
More credit card payment options to fit all accounting needs
Inworks now provides greater choice of credit card payment methods, supporting both Visa® and MaterCard® payments, as well as a ghost card option, which enables suppliers to process authorized payments from their healthcare customers without the exchange of a physical credit card.
"Our goal continues to be to provide the most secure and efficient methods of electronic transactions between our customers and their suppliers," said Don Carlson, CEO of Inworks. "We're excited to be expanding our offerings in ways that create win-win solutions — optimizing cash on both sides of these transactions."
The Inworks Intelligent Pay electronic payment platform facilitates high supplier participation by offering the industry's broadest range of customized e-pay methods, allowing the company to meet each supplier's specific payment requirements. The Intelligent Pay platform is part of the Inworks Strategic AP® program, providing AP automation and e-payables optimization to help healthcare systems maximize working capital, streamline the AP process and reduce administrative costs, while enabling them to generate additional revenue from rebates on paid invoices — all at no cost to the hospital. The company also provides independent, up-front funding for payables, allowing the hospital to maintain an on-time or early payment relationship with their suppliers and collect invoice rebate income.
Inworks is a Portland, Oregon-based financial services company headed by successful healthcare, banking and business specialists. Founded on more than 35 years of electronic commerce expertise, the company provides a highly secure and reliable vehicle for ePay transactions and allows hospitals and healthcare systems to maximize their working capital while building stronger relationships with their suppliers.
For more information about Inworks, please visit inworks.com.