Stanbic Bank showcases revenue leakage blocking system for Korle-Bu

Stanbic Bank appears to have taken advantage of the recent stand-off over revenue collection between the Korle-Bu Teaching Hospital (KBTH) and Unibank to exhibit its “end-to-end” revenue collection software that fits within the Management Information System (MIS) being rolled out by the hospital.

Stanbic claimed in an advertorial published in the newspapers that it has an efficient and resilient software to help bring an end to revenue management headaches at the teaching hospital as well as increase the hospital’s revenue by not just cash collection, but also by improving the hospital’s operations in both operational and clinical care.

The software, Business Day has learnt, will be used to generate bills at all billing points and also collect payments via digital and cash, which will enable smooth running of the hospital.

The advertorial published in newspapers recently demonstrated how the software works.

The software will also help in bed management in all units and there will be real time view of all transactions all day, all week to ensure transparency, which will result in blocking revenue leakage.

It would be recalled that allegations of corruption were made against some officials at the presidency following the KBTH’s decision to terminate a revenue collection agreement with Unibank but retain Stanbic Bank.

In the midst of the ensuing disagreement, Stanbic published the advertorials to demonstrate why it got the nod of the KBTH.

It has emerged subsequently that a $240,000 state-of-the-art software, being piloted by Stanbic will rake in more revenues for KBTH if fully operational.

Even though the software is to be deployed by Stanbic Bank, it will be owned by the hospital at no cost as time goes on.

It is projected that, with the new software, Korle-Bu will be able to know how much is collected at what time of the day and at which department of the hospital.

The software is therefore expected to provide answers to the chronic revenue leakages that have bedevilled the operations of the hospital; a critical need as the hospital has been taken off Government subventions and is solely depending on Internally Generated Funds (IGF).