In theory, contracts should always save your hospital money. However, we often see instances where health systems enter into a multi-year contract with a vendor and simply trust that they will receive the contract price, every time. We recently conducted a pricing review for one of our clients and noticed that one item’s price had incorrectly spiked and cost them nearly $375,000 overtime.
Contracts offer convenience and savings for health systems across the country, but they aren’t foolproof. Human error, as well as computer errors, may still disrupt your item pricing and negatively affect your organization’s cash flow. Contact The Audit Group for a complete pricing review to ensure you receive the maximum value from each contract.