Partner Spotlight: CommerceHealthcare
We recently sat down with Paul Rowson, VP, National Healthcare Account Executive at CommerceHealthcare. We discussed what CommerceHealthcare offers to hospitals and health systems, changes in the financial landscape, and more. Read our full interview below.
Bryan: Paul, can you start by telling us who is CommerceHealthcare?
Paul: CommerceHealthcare is a division of CommerceBank, which is headquartered in Kansas City, MO. It solely supports healthcare providers and system-managed funds coming in and out of their collective organizations. Our goal is to provide cost savings, drive efficiencies and generate revenue for the provider.
Bryan: Some people may view the work CommerceHealthcare does with hospitals and health systems as only involving the finance department, but I’d say that isn’t the case, even more so in the last few years. How are other departments impacted by the services CommerceHealthcare offers?
Paul: A variety of departments outside of finance can see the positive impact that we provide. Supply chain, for example, can benefit from having us as a value-added partner that can help generate additional savings and help streamline internal processes for each department. Another example would be the patient reimbursement team. By issuing electronic patient refunds through our patient refund program, patients can receive their refund in as little as 15 minutes.
Bryan: If you could dispel one myth about the CommerceHealthcare supplemental AP Card program for our members, what would it be?
Paul: One of the common myths about adding a supplemental AP Card program is there are no more suppliers to convert to virtual card payments. However, on average, we typically uncover a 40% increase in new suppliers that will accept our virtual card, private network, or ACH payment platform. This is largely due to our existing network of suppliers and our lifetime enrollment team assigned to each healthcare provider.
Bryan: In the past few years, hospitals and health systems have battled tight financial pressures, and more recently, the economy and financial system overall have been a topic of concern. What are the key areas that hospitals and health systems should focus on during these uncertain times?
Paul: I think the major area hospitals and health systems should be focused on is supporting and retaining their staff and employees. The patient experience is all about having the right people in place to support them when they come through the door. If that means a more flexible work environment or a more rewarding career path structure, invest in your team.
Bryan: To wrap us up, I know you recently enjoyed spring break with your children. Could you share any fun memories or stories of what you all did?
Paul: Sure! Spring break was in Miami this year visiting their grandparents. We had a great time and were able to relax and reset and enjoy time with my wife’s family. After running non-stop with work and the holidays, it was just what the doctor ordered. I am truly thankful for all the blessings and mercy God has given us to see another great year!