Case Study: Healthcare Service Provider achieves 69% greater cash application efficiency with Versapay

How This Healthcare Service Provider Gives 4.5 Hours Back to Cash Application Specialists Every Day with Automation

A Healthcare Service Provider serving eldercare centers was struggling to keep up with explosive growth during the pandemic because its cash application process was still highly manual. Checks could take half a day to post, the team often worked until 10:00 PM, and the process took about 6 hours a day with 1.5 FTEs, creating burnout and inefficiency. The company turned to Versapay’s cash application automation solution to replace its slow, error-prone AR workflows.

Versapay implemented AI- and ML-driven automation to handle check, ACH, and credit card payments, streamline matching, and reduce reliance on the collections team. As a result, the Healthcare Service Provider cut daily cash application time by 75%, reduced resources needed by 33%, and automatically matched 96% of incoming payments to open receivables. Versapay also helped the team post payments twice as often, save 1.5 days on credit card processing, and redeploy staff to higher-value work.