MMC Transitions Six Ontario Hospitals to Our Advanced Account Payables Platform
Mohawk Medbuy Corporation (MMC) is pleased to announce that six hospitals in Central Ontario have transitioned to our advanced Accounts Payable (AP) platform. Driven by Basware, a global leader in accounts payable automation and invoice processing solutions, MMC’s AP Services leverage our deep understanding of the health care sector to meet the specialized needs of the complex hospital environment.
Oak Valley Health, Peterborough Regional Health Centre, Ross Memorial Hospital, Royal Victoria Regional Health Centre, Southlake Health and Mackenzie Health are all benefiting from streamlined invoice capture, processing and payments.
MMC Accounts Payable Services provide operational and cost efficiencies for hospitals of all sizes. While these six Central Ontario hospitals are diverse in scale, the flexibility of the Basware platform allows them to individually optimize hospital cash and spend management.
“Basware is an improvement to our legacy AP systems, in particular its reporting capabilities,” said Greg, Chow, VP Finance and CFO at Mackenzie Health. “The visibility and accessibility of AP, PO and coding information to all users has been significantly enhanced.”
With the 350,000 additional invoices from these six hospitals, MMC AP Services now processes in excess of 900,000 invoices a year, representing more than $5 billion in annual spend. It’s also on track to generate $3.5+ million in bottom-line savings for its AP Members this year through early payment discounts, e-invoicing, process efficiencies, and MMC’s VISA Payables program.
“Transitioning these six hospitals to the Basware platform is a pivotal step forward to driving value via invoice automation,” said Tara Bal, Senior VP, Member Business Services at Mohawk Medbuy. “Each of these Members has their own unique dynamics, and our team’s expertise allows us to deliver consistency in AP processes with robust financial controls.”
From the spend information received through AP services and data feeds provided by many other hospitals, MMC has an unparalleled view of supply chain activity in the health care sector. That insight allows us to anticipate and proactively respond to potential disruptions to better support our Members.
About Mohawk Medbuy
Mohawk Medbuy Corporation (MMC) is a national, not-for-profit, shared services organization that supports hundreds of health care providers across Canada, as well as child welfare agencies and other public sector organizations. MMC provides value-driven contracting and procurement solutions for medical/surgical supplies, pharmaceutical products, local sourcing, capital (equipment, FF&E and redevelopment) and nutrition solutions. Other services include data analytics, in-hospital support, warehousing/logistics, technology, procure-to-pay, and accounts payable.
With an emerging focus on sustainability and reconciliation with Indigenous Peoples, MMC is actively supporting the creation of a resilient value chain that incorporates environmental, social, and economic best practices. Based in Burlington, ON, the organization also has offices in Toronto, Thunder Bay, Kingston, Brantford, London and Chatham, and a distribution centre in Oakville.