Tivic Health Systems has launched a B2B portal to support sales of its bioelectronic medical equipment.
The portal provides a streamlined ordering and fulfillment process for pharmacy groups, healthcare providers, wholesalers and distributors, Tivic Health Systems said in a Monday (May 8) press release.
It also reduces the logistical complexity and costs of supporting these commercial partnerships, and aids Tivic Health Systems’ growth, according to the release.
“This B2B portal will further enable our commercial and operational reach as we accelerate growth,” Tivic Health Systems CEO Jennifer Ernst said in the release. “This is one of many steps towards increasing access of bioelectronic medicine for all patients that can benefit from drug-free clinically effective therapeutic solutions.”
PYMNTS research has found that although the pandemic highlighted the need to ensure that medical supplies and equipment can be easily procured, the healthcare industry has been comparatively slow to adopt automated, cloud-based payment and invoicing solutions that can increase efficiency and eliminate costly errors.
Some 70% of healthcare invoices are still paper based and almost 85% of purchases are paid for with paper checks, according to the “B2B Payments in Healthcare Tracker®,” a PYMNTS and American Express collaboration.
The report also found that automation of payment and invoicing processes can lead to many benefits for both healthcare organizations and their suppliers, including better speed and predictability of payments and more flexibility with cross-border procurement of medical supplies and equipment.
Across the B2B payments space, modern, “consumerized and intuitive solutions” that are seamless to implement and use every day are tying together accounts receivable (AR) and accounts payable (AP) interactions more closely than ever before, Trina Dutta, vice president and general manager, B2B payments automation, global commercial services at American Express, told PYMNTS in an interview posted in May 2022.
On the buyer side, Dutta said the increasing adoption of AP-focused automation solutions will drive volume in commercial cards, along with other forms of electronic payments.
For suppliers, there is a growing need to provide visibility, efficient processing and a simple way to close out their books across several payment types and receipts, Dutta said.
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