Pittsburgh (PRWEB) November 1, 2010
PNC and VHA Inc., a national health care network, announced today a new agreement to provide VHA members nationwide with treasury management services specifically designed to help health care organizations to both reduce their processing expenses and increase their working capital. This arrangement builds on an existing relationship between PNC and certain VHA regional offices.
In addition to traditional commercial card services, VHA members will be able to transform their existing accounts payable (AP) process by integrating PNC’s commercial card as a payment option. By moving from a paper-based to an electronic payments system, member organizations will benefit from lower costs and greater control, visibility and timing of their payments.
“We are committed to providing our members with the resources they need to conduct business cost-effectively,” said David Gillan, vice president of Purchased Services and Strategic Sourcing at VHA. “Our members will be able to reduce their processing costs and time through the use of these electronic payment services, while also gaining increased control over how and where their funds are being spent.”
VHA Inc., based in Irving, Texas, is a national network of not-for-profit health care organizations that work together to drive maximum savings in the supply chain arena, set new levels of clinical performance and identify and implement best practices to improve operational efficiency and clinical outcomes. In 2009, VHA delivered record savings and value of $1.47 billion to members.
“VHA is highly regarded and is one of the largest group purchasing organizations in the nation. We look forward to working with an organization of their scope and influence to help their members achieve their financial goals so that they can maintain their focus on the business of patient care,” said Jeffrey Troutman, executive vice president, PNC Healthcare.
Formed in 1977, through its 16 regional offices, VHA serves 1,400 hospitals and more than 30,000 non-acute care providers nationwide. VHA was ranked by Modern Healthcare as the 38th best place to work in health care in 2010.
PNC has accrued industry insight over the past decade, serving the financial services needs of more than 1,600 healthcare industry customers with customized solutions, innovative technology and proprietary research.
The PNC Financial Services Group, Inc. (http://www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.
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