Accounts Payable Management for LTC Organizations

Are Manual AP & Vendor Payments Holding You Back?

Late vendor payments, duplicate invoices, and missed discounts create unnecessary costs and strained vendor relationships.

Managing Accounts Payable is more than just paying bills. It’s about data entry accuracy, vendor relationship management, and expense tracking. When your AP is managed in spreadsheets and paper invoices, you risk late fees, missed discounts, and duplicate payments. Without proper AP controls, you lose visibility into spending patterns and vendor obligations—leaving money on the table and damaging critical healthcare vendor relationships.

Cost of Processing

The average all-in cost to process a single paper invoice is between $12 and $30.

Data Entry Errors

Manual data entry has an average error rate of 1%, which can lead to thousands of dollars in overpayments.

Streamlined Vendor Payments. Complete Control. Zero Errors.

LTCPro's AP services bring precision, control, and clarity to your vendor payment process. We streamline your entire procure-to-pay workflow, ensuring every invoice is coded correctly, approved promptly, and paid on time—so you maintain strong vendor relationships and never miss a discount again.

At LTCPro, we understand that efficient Accounts Payable (AP) management is vital for the financial health of long-term care facilities, including Skilled Nursing Facilities (SNFs) and Assisted Living Facilities (ALFs). Our comprehensive Accounts Payable Services are designed to streamline the payment process, enhance vendor relationships, and ensure compliance with financial regulations, allowing your facility to focus on delivering quality care to residents.

Effective accounts payable management is crucial in the long-term care sector, where timely payments to vendors and suppliers are essential for maintaining operations and ensuring the availability of necessary resources. By partnering with LTCPro, your facility can improve cash flow management, reduce administrative burdens, and enhance overall operational efficiency.

Our AP & GL Services Include:

Invoice & AP Processing: We receive, code, and process all vendor invoices, ensuring proper approvals and timely payments.
Vendor Management: We serve as the primary point of contact for your vendors, managing W-9s, payment inquiries, and all vendor communications.
Payment Processing: We handle the complete payment cycle—from verification through reconciliation—ensuring accurate, on-time vendor payments.
Expense Coding & Allocation: We ensure every expense is properly coded to your chart of accounts for accurate tracking and reporting.
Vendor Compliance: We maintain vendor documentation, manage compliance requirements, and flag any discrepancies or duplicate payments before they occur.

From Invoice Chaos to Payment Control

Free Process Audit

1 We review your current AP processes, vendor relationships, payment workflows, and identify cost-saving opportunities.

System Setup

2 We establish a streamlined, digital workflow for invoice submission, approvals, and vendor payment processing.

Full-Service AP Management

3 Our team takes over the daily and weekly AP tasks—invoice processing, vendor inquiries, and payment runs—freeing up your internal staff.

Vendor Reporting & Insights

4 You receive regular reports on vendor spending, payment history, and compliance status, giving you complete visibility into your AP operations.

Accounts Payable Services for Skilled Nursing and Assisted Living Facilities:

LTCPro offers a full suite of accounts payable services tailored specifically for long-term care facilities. Our services include:

Invoice Processing: We manage the entire invoice processing workflow, from receipt to approval and payment. This includes verifying invoice accuracy, matching invoices with purchase orders, and ensuring timely processing to avoid late fees.
Vendor Check Processing: Our team handles the preparation and issuance of vendor checks, ensuring that all payments are made accurately and on time. This process includes maintaining records of all transactions for transparency and accountability.
Checks Voiding: In cases where checks need to be voided due to errors or changes in payment, we efficiently manage the voiding process and ensure that all records are updated accordingly.
Cash Disbursements: We oversee cash disbursements to vendors, ensuring that funds are allocated appropriately and that all payments are documented for financial reporting.
Generating 1099 Forms: LTCPro prepares and issues 1099 forms for vendors as required by IRS regulations, ensuring compliance and accurate reporting of payments made throughout the year.
Daily CCL Reports: We generate daily CCL reports to track and manage financial transactions, ensuring compliance with state regulations and facilitating effective financial oversight.
Maintaining Vendor Master: Our team maintains an up-to-date vendor master file, ensuring that all vendor information is accurate and accessible. This includes tracking vendor performance and managing relationships to optimize service delivery.
Month-End Closing: We conduct month-end closing activities to ensure that all accounts payable transactions are accurately recorded and reconciled. This process is essential for maintaining accurate financial statements and supporting effective decision-making.

Benefits of Partnering with LTCPro for Accounts Payable Services:

When you choose LTCPro for your Accounts Payable needs, you gain a dedicated partner focused on enhancing your facility’s financial management. The benefits include:

Improved Cash Flow Management: Our efficient processing of invoices and payments helps ensure that your facility maintains a healthy cash flow, allowing for timely procurement of necessary resources.
Enhanced Vendor Relationships: By ensuring timely payments, we help foster positive relationships with vendors, which can lead to better service and pricing.
Reduced Administrative Burden: Outsourcing accounts payable services allows your staff to focus on resident care and other essential tasks, improving overall productivity.
Increased Compliance: Our expertise in financial regulations ensures that your facility remains compliant with all relevant laws, reducing the risk of penalties and audits.

Accounts Payable Reports and Analytics:

To support effective decision-making and financial management, LTCPro generates a variety of essential Accounts Payable reports, including:

Vendor Activity Report: Detailed records of transactions with each vendor, including payments made and outstanding balances.
Check Register: A comprehensive log of all checks issued, providing transparency and accountability in financial transactions.
Invoice Aging Report: Analysis of outstanding invoices, helping identify overdue payments and manage cash flow effectively.
Check Details Report: Detailed information on each check issued, including amounts, dates, and vendor information.
Month-End and Year-End Report: Comprehensive reports summarizing accounts payable activities for month-end and year-end financial reporting.

At LTCPro, we are committed to providing exceptional Accounts Payable Services tailored for long-term care facilities. Our comprehensive approach, expert team, and dedication to excellence make us the ideal partner for your Accounts Payable needs.

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