American Express Meetings & Events Announces New Solution to Simplify Health Care Provider Payments and Reporting for Pharmaceutical Companies

American Express Meetings & Events today announced a new solution, powered by American Express FX International Payments, for pharmaceutical companies looking to simplify healthcare provider payments. The new solution which includes reporting capabilities is exclusively available to American Express Meetings and Events clients, making it possible for meeting planners to manage payments to health care providers with seamless tracking and reporting.The platform made available through American Express FX International Payments, a leader in providing foreign exchange services, enables businesses to send, receive and manage their foreign payments online quickly and securely. Payments and expenses flow through one end-to-end meetings resource and payments can be processed worldwide in over 110 currencies. American Express FX International Payments enables businesses to send, receive and manage their foreign payments online quickly and securely."Pharmaceutical companies are working to strengthen their process for making, tracking, and reconciling payments for accuracy," said Issa Jouaneh, Vice President and General Manager, American Express Meetings & Events. "Issuing payments in foreign currency adds an additional layer of complexity, by providing a service for these types of payments as a part of the end to end meetings planning process, we are providing pharmaceutical companies with the opportunity to simplify their process and to receive the tracking and reporting they need."In response to the new obstacles for meeting planning, American Express' solution has been designed to address the following needs:Processing of Individual Payments to Health Care Providers:-- Multiple forms of payment are supported, including wire transfers and checks-- Foreign payments can be made in local currencies as needed-- Foreign exchange rates clearly displayed to provide transparent payment costs-- Online, secure transfer of fundsTracking and Aggregation of All Payments to Health Care Providers:-- Confirmation is sent when payments are processed and all necessary corrections are proactively addressed-- Staffing requirements are reduced through the simplified processComprehensive Reporting:-- Payments are fully managed and reported back to clients-- Client hierarchy (e.g. division, brand, product-level, meeting-level, etc.) is used to categorize the payments and manage at the event budget level-- Payments are fully reconciled in the same manner as other fees such as venue, meals, and AV