Every dollar counts in long-term care. But without strict oversight, vendor spending can quickly spiral out of control. Manual purchasing and invoice processes are error-prone and inefficient, leading to overspending, duplicate orders, and delayed payments. It's estimated that poor procurement management can inflate supply costs by 20–30%. In comparison, manual invoice handling can cost up to 5% per transaction and consume nearly a quarter of the AP department's time.

For Skilled Nursing Facilities (SNFs), these inefficiencies result in reduced funding for staffing, resident services, and quality improvements. Fortunately, technology-driven solutions like purchase order (PO) tracking, invoice automation, and automated three-way matching can deliver:

• 40–70% reduction in requisition costs
• Up to 85% cut in PO processing costs (from $107 to $32 per PO)
• 30–40% fewer transactional errors

Controlling vendor spend isn't just good practice, it's essential. And that's precisely where LTCPro delivers results.

The Core Problems

• Unmanaged requisitions and approvals: Manual processes lead to over-ordering, unauthorized purchases, and delays.
• Invoice errors and duplications: Manual entries result in costly mistakes and reconciliation headaches.
• Lack of visibility: Without centralized tracking and reporting, spend leaks go unnoticed until it's too late.
• Compliance gaps & audit risk: Fragmented records increase the risk of audit penalties and regulatory non-compliance.

How LTCPro Solves the Vendor Spend Puzzle

1. Automated PO Creation & Approval

Using LTCPro's system, SNFs generate purchase orders with built-in approval workflows. Costs are tracked by payment requests, and only approved orders are converted into invoices—preventing unauthorized spending.

2. Three-way matching and Error Elimination

Our software cross-verifies PO, receiving reports and invoices before payment. With automated checks and exception routing, SNFs dramatically reduce duplicate or incorrect payments—errors that commonly lead to losses up to 5–15% per year.

3. Faster, Smarter Invoice Processing

OCR and AI-driven systems handle invoice capture, coding, and payment posting—cutting invoice processing costs by 5%, eliminating manual workload, and delivering faster turnaround times.

4. Centralized Vendor & Spend Analytics

All vendor data, invoices, and payments are accessible via snapshots and dashboards. SNF leaders can track budget vs. actual spending, spot anomalies, and renegotiate vendor terms backed by data.

5. Audit-Ready Documentation

Every transaction is uniquely tagged and stored, with PO linkage and approval trails intact. This ensures SNFs can confidently pass internal and external audits with transparency and ease.

Real Results SNFs Can Expect

• Up to 30% reduction in overall procurement costs
• 40% faster PO-to-payment cycles
• 50% fewer invoice discrepancies
• Complete month-end reconciliation in minutes, not hours

These improvements not only stabilize finances but also free up resources for care, staffing, and facility upgrades.

LTCPro: Your Partner in Spend Control and Growth

With LTCPro, you gain a turnkey procurement and invoice automation solution that integrates seamlessly into your existing operations:

• PO automation with approval workflows
• OCR invoice capture with three-way match
• Real-time spend dashboards and vendor analytics
• Compliance checks and audit-ready documentation
• Modular implementation for single or multi-site facilities

Let LTCPro help you turn vendor spending from a liability into a strategic asset—allowing your SNF to invest in what truly matters.