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May 17, 2022

Healthcare Contract Repository - TAG Inc

Why your Health System Needs a Contract Repository

Thousands of suppliers are actively utilized in every health system often managed by a limited amount of staff. That’s why organizations must create a centralized contract repository in order to properly manage their contracts and set their Supply Chain up for automation and success. What is a contract repository? A contract repository is simply a central location housing all vendor contracts a health system uses. As a core component of a successful contract management system, the repository must collect and consolidate ALL contracts including local and GPO contracts. The system containing the repository must be able to store the data […]

April 27, 2022

supply chain automation solutions at your health system - TAG inc

5 Areas for Health Systems to Implement Supply Chain Automation

To keep up with the changing world and future world events such as the COVID-19 pandemic, health systems must adopt leading supply chain automation. Automation can ease workflows, bring insight into current operations, create resiliency, and future-proof healthcare’s supply chain. Automate Supply Chain Data Infrastructure Data is dispersed between several different supply chain systems including the EHR, ERP, inventory management, etc. To begin to gain insight into data from all of these systems, it must first be consolidated in one place, thus providing a single source of truth (SSOT) by use of automation. Creating the proper infrastructure with an SSOT […]

March 17, 2022

pharmacy procurement complexities - TAG Inc

Navigating the Complexities of Your Health System’s Pharmaceutical Procurement

The Challenges of Pharmaceutical Procurement Managing the pharmaceutical procurement process for a large health system is a complex and grueling process. Why? Because it is commonplace for these organizations to purchase from multiple manufacturers and distributors – resulting in excess of 100 accounts. With so many pharmaceutical accounts to manage, it becomes difficult to know whether health systems continue to get the correct or best price. For example, during the course of a year, a health system paid nine different prices for Astra Zeneca’s drug Symbicort ranging anywhere from $0.05 to $232. Most health systems are not equipped with the […]

January 20, 2022

Healthcare Procure to Pay Letter from the CEO 2022 - TAG Inc

A Letter from TAG CEO, John Weiss

The past two years in healthcare is something for the history books, and the year to come will be no less of a challenge. Supply Chain and Accounts Payable have been – and will continue to be – pressured to deliver fiscally responsible creative sourcing strategies to efficiently [and correctly] pay the bills. All this while staff has been cut, supply shortages linger, price spikes continue, and invoice processing is falling behind. Simply put, more is being expected from less. I have no doubt these challenges will continue into the foreseeable future. The fact of the matter is that we […]

January 11, 2022

How to Ensure Vendor Compliance at your Health System

Ensuring vendor compliance at your health system may seem like a daunting, impossible task that never ends. You’re not wrong. Managing thousands of vendors and holding them accountable is complex and requires attention to detail and a timely dedication your Procurement and Accounts Payable (AP) staff may not have. The results of not doing so can be catastrophic to your health system’s bottom line, costing the healthcare industry $1.7B* annually. To battle this, your health system must create a comprehensive vendor compliance management policy and process. What to Consider in your Vendor Compliance Process Bring AP and Supply Chain Departments […]

January 7, 2022

Press Release from TAG Inc - The Audit Group

TAG, Inc. Announces Record Year for 2021

ST. LOUIS, January 6, 2022 (Newswire.com) – TAG Inc., the leader in healthcare procure to pay (P2P) optimization, cost savings, and consulting, announced a record year for revenue and people growth in 2021. TAG’s revenue for 2021 reached its highest in company history and a 32 percent increase over the previous year as it continues to deliver savings and efficiencies to health systems across the USA. The organization’s Operations department grew by 16 percent, allowing TAG to deliver more savings and provide additional services. “It has been a pivotal year for us as we continue to help our clients recover funds lost […]

December 15, 2021

Top 6 Cybersecurity Tips to Protect your Health System

Increased levels of connectivity, remote working, telemedicine, and automation have heightened the need to strengthen health systems’ cybersecurity. The FBI and Internet Crime Complaint Center’s (IC3) reported that complaints of cybercrime nearly doubled from 2019 – 2020 before hitting a record total of almost 800,000 complaints. Furthermore, data breaches at health systems cost an average of $7,130,000 caused by downtime and new security measures. Cybersecurity Strategies for Attack Prevention at Health Systems 1. Practice vigilance and good cyber hygiene. Healthcare organizations must gain awareness of cybersecurity risks and practice good cyber hygiene across all devices including mobile phones, tablets, and computers. […]