Edgewood Healthcare revitalizes payment processes using Paystand

The gold standard for senior living communities revitalized its AR processes with Paystand and achieved a 60% decrease in transaction fees and a 25% increase in productivity.

By The Numbers

99%

Reduction of Manual Errors

66%

Decrease in Transaction Fees

25%

Increase in Productivity

Industry

Healthcare

Client

Challenge

Edgewood wanted to offer their customers an easy, efficient way to digitally autopay their monthly care costs. But the solution had to integrate seamlessly with NetSuite and ease the workload for their finance team.

Solution

Paystand helped Edgewood craft a better payment experience with simple one-click payments, decreased errors by 99%, and helped eliminate manual labor through targeted automation.

Testimonials

“It’s almost creepy how easy Paystand makes my job. It’s unbelievable how automated it is. It’s been an even better experience than we anticipated. . . We just fully trust Paystand.”
John Dybwad
Vice President of Finance & Budget

Challenges Faced by Edgewood Healthcare

• Needed a payment solution compatible with their new ERP, NetSuite
• Manual, labor-intensive payment process that strained the AR team
• Lacked an easy and efficient autopay option for residents' monthly care costs
• Customer trust issues due to a poor payment experience with previous solutions
• Sought a scalable solution to support multiple subsidiaries and payment types

Solutions Implemented with Paystand

• Seamless integration with NetSuite, enabling streamlined payment processing
• Automated AR workflows, reducing staff workload and saving over a week per month
• Enabled digital autopay options for customers, improving satisfaction and trust
• Allowed convenience fees to be passed along, reducing company transaction costs
• Enhanced transparency, paving the way for a paperless payment process by 2023

Paystand is on a mission to create a more open financial system, starting with B2B payments. Using blockchain and cloud technology, we pioneered Payments-as-a-Service to digitize and automate your entire cash lifecycle. Our software makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue.