How we think about and interact with healthcare services has altered dramatically. New virtual services, biotechnology and smart devices are at the heart of a global revolution in healthcare.
With increased international opportunities as nations seek innovation to address pressing health challenges, there is an increasing need for healthcare companies to protect their profits and mitigate their foreign exchange risk.
How international payments can affect the healthcare industry
With exports, imports and an international workforce, the healthcare industry is global. Supply chain partners and international offices to adhere to local regulatory requirements add to the reasons why the healthcare industry has a growing need for transferring money from pounds to foreign currencies.
All of these payments, particularly recurring outlays such as rent and payroll for an overseas office, can incur significant costs if a poor exchange rate is agreed. Costly transfer fees from banks and FX providers can damage your profits but by working with a specialist and planning all your foreign exchange exposure and budgets well in advance, you can help to protect your margins.
How we can help your business save money
Healthcare companies are able to rely on a valuable and cost-effective service with a Moneycorp business account. With 24/7 access to a secure online platform, you are able to process and manage the range of international payments that you may need to make.
Every business is assigned an account manager who understands the ins and outs of your sector and will guide you through currency volatility to ensure you are offered a solution tailored to your business needs.
Our payment solutions allow you to make bulk payments for any business costs or overseas staff salaries in over 120 different currencies to over 190 countries. You can also use a range of FX tools, including a currency forward, FX order and spot contract.
What about Brexit?
With Brexit on the horizon, further change to the industry is on the way. From changes to overseas staff recruitment to new import/export, regulatory and data protection requirements, companies may be facing increased costs.
While some of these issues may require additional resources, you can minimise the impact on the bottom line by saving money on international transfers with our specialist service that will also help your business expand beyond the EU.
Keep up to date with the latest Brexit-related news and the effect on the currency markets via our Brexit Hub.