Throughout the course of our review, TAG’s team will be discussing opportunities for process improvement, better internal controls, and cost reduction we identify from your vendor invoice processes. Among those issues that will be reviewed and discussed are:
Better Forecasting for Cost Efficiency
Identify new contract and tier recommendations
Identify cash discounts and rebates
Identify duplicate items in Item Master
Identify duplicate vendors in Vendor Master
Identification of vendors paying freight to in apprarent violation of its freight management program.
Develop Best-in-Class Attributes
Improve data integrity and validation of correct prices to be loaded
Variations in prices paid to a vendor across individual entities
Knowledge of what and where information is processed
Check and Balance on resolving differences between POs and invoices
Benchmarking
Analysis of audit results itemized by: Vendor, Dollar Amount, and Claim Types
Comparison of your hospital's performance to similiar-sized healthcare systems