How businesses in the healthcare & medical industry can improve their FX outcomes with Xe
Having a secure, reliable and cost effective international payment provider as well as the tools and expertise available to support you to weather market volatility is crucial.
March 12, 2021 — 3 min read
Any business that deals with foreign currency, no matter the size or the industry, has the potential to be impacted by the ups and downs of the foreign currency markets. A change in exchange rates from one day to the next could potentially increase importing costs, increase capital expenditure costs, or increase overseas investment costs.
If you are a business in the healthcare and medical industry, preparing for market volatility and knowing how to respond to shifts in currency values is critical. Otherwise, you could end up paying more than you projected on goods or services, which can have a detrimental impact on your bottom line.
Whether you’re importing medical devices and distributing them to local pharmacies or healthcare providers, or purchasing chemicals as part of the medicine production process, having a secure, reliable and cost effective international payment provider as well as the tools and expertise available to support you to weather market volatility is crucial.
How can your healthcare business address foreign currency risk?
Working with a knowledgeable, experienced foreign exchange provider is the first step to safeguarding your business against ups and downs of the currency markets. No one can predict the future, but an FX provider can help you prepare for potential volatility, and will have the tools and guidance to help you respond in the event of unexpected shifts.
Opening an Xe Business account will allow you to take advantage of our full suite of products and services, so you can:
Protect costs for imports;
Save time through accurate forecasting and quick and easy payments;
Save money with cheaper rates and low, transparent fees (compared to banks).
How can Xe reduce foreign currency risk for your business?
We understand that no two businesses are the same. We work individually with each business in order to identify where their needs lie and what their risk exposures are, and develop an international payments and risk management strategy tailored to their operations.
We offer a range of products and services, including:
Spot transfers. Purchase currency and send your international payment at the current rate. If you need to make a quick payment, you can do it on the spot in just a few minutes.
Market orders. Identify a target exchange rate, and we’ll initiate your transfer when that rate is reached. If your payment isn’t time-sensitive, you can avoid potential volatility in the future.
Forward contracts. Lock in today’s exchange rate and send the payment on a set future date. If you have an upcoming transfer and don’t want to worry about the markets fluctuating, take care of it now for peace of mind later.
Risk management. Don’t have the time or the resources to devise a risk management strategy on your own? With our 25 years of experience in the currency markets and dedicated team of currency experts, we can help you to strategise the right one for your business.
How to get started
Signing up for an Xe Business account is completely free, and will take just a few minutes. Interested in learning what the process entails? You can view our detailed guide to signing up and getting your first quote here.