Healthcare companies may operate across multiple locations, need to pay suppliers and staff, and receive payments from abroad.

Using traditional banking methods for this can result in:

  1. Increased currency risk from agreed payments, or regular payments from customers, coming after a rate fluctuation

  2. Higher staffing costs where consultants or locums are paid into international accounts

  3. Impact on a supply chain where it can end up costing more money to pay for things like supplies and other necessities for patient care

Using a cross border payment solution will provide companies with the structure needed to accept payments and pay where needed, without losing out on unnecessary fees or higher exchange rates.

Key problems solved

Cross border payments for healthcare
Cross border payments for healthcare

Institutions operating under the same umbrella and in need of payments to be made can benefit from multi-currency local or IBAN accounts.

These accounts can also be used to take payment from clients and make payments for equipment.

Payroll for staff and consultants
Payroll for staff and consultants

When hiring locum staff and specialists, or agency recruitment, it is possible to action international batch payments and reduce the cost of international money transfers.

Large transfers to suppliers
Large transfers to suppliers

Practices can pay for supplies in the currency billed and reduce the costs of keeping healthcare moving. Utilise both local and IBAN accounts.

Managing currency risk across an company level
Managing currency risk across an company level

Healthcare companies with multiple operations and locations can manage currency risk centrally. This includes using local accounts and moving finances between them as needed, tools like forward contracts to fulfil supplier orders and access to account managers for guidances and auditing of foreign exchange practices within a business.

Expense management for travelling staff
Expense management for travelling staff

Virtual cards can be issued for staff attending events, salespeople on the road, and consultants working across borders to name but a few. Cards can be issued at a business, team, event or spend level to keep finances in check and will be tagged clearly in cross border platforms. Receipts, comments, custom workflows and approval processes can be added and submitted as needed for each card type or group.

Recommended healthcare provider

Equals Money is our recommended provider for healthcare companies. They offer the security on cross border transactions and the a wide range of supported virtual currencies.

Visit Equals Money

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