Charleston, S.C-based MUSC Health, Peoria, Ill-based OSF HealthCare, Kettering (Ohio) Health, and Fountain Valley, Calif.-based MemorialCare have deployed an AI-powered contract intelligence platform from startup SpendRule.
The solution validates invoices against contract terms in real time prior to making payments. The MemorialCare Innovation Fund is also an investor in the company.
“We manage thousands of purchased services contracts, many of them hundreds of pages long,” said Dave Fergus, chief supply chain officer of OSF HealthCare, in a Feb. 17 news release. “Before SpendRule, there was no realistic way to ensure every invoice line matched the contract before payment. Now, that validation happens automatically, giving us confidence in invoice accuracy, stopping the leakage, and freeing our teams from thousands of hours of manual approvals each year.”
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