A Florida-based healthcare organization has implemented IBM analytics tools in an effort to manage costs and detect fraudulent activities among the company’s network of third-party providers.
IBM designed the VETTED platform to integrate big data analytics with the company’s Smarter Content management tools by using IBM and Information Management Consultants‘ enterprise content administration product, IBM said Monday.
The Memorial Healthcare System intends to facilitate invoice cycles for vendors and vetting activities in a shorter span of time and determine potentially conflicting interests for its network of six hospitals.
Robert Griffin, vice president for industry and counter fraud solutions at IBM, said the company aims to increase its visibility in the vendor market and process payments quicker for healthcare customers such as Memorial.
Memorial Healthcare System processes more than 300,000 invoices and works with more than 6,000 vendors on services such as construction, specialized nursing care, facility administration and lab testing.
IBM’s content management platform is designed to integrate accounts payable procedures and to verify vendor information with external and internal databases.
The auditable system also works to monitor if the person in charge signs the invoices and when a vendor can be paid.