June 17, 2020

TAG, Inc. Expands Pricing and Contracting Services for US Health Systems

ST. LOUIS, MO / ACCESSWIRE / June 15, 2020 / TAG, Inc., formerly The Audit Group, expands its pricing and contracting review services by hiring key personnel to lead SpendSuite, its latest pricing and contracting tool collection. TAG continues to lead the Procure-to-Pay and Recovery Audit industries in item pricing, contracting, and pharmacy reviews. TAG has over 30+ years of providing the healthcare industry with specialized pricing reviews led by Sunshine Prograis, Director of Operations, who continues to identify areas for enhancement and innovation within this line of business. \”Contract and Pricing review has always been one of our top […]
June 4, 2020

Press Release: TAG, Inc. Saved Healthcare Systems $4M first month of Pay-It-Forward Recovery Program

TAG, Inc., formerly The Audit Group, helped healthcare systems recoup over $4,000,000 during the first month of the COVID-19 Pay-it-Forward Recovery Program. The program runs through the end of June 2020 providing Accounts Payable (AP) and contract recovery audits at no cost or obligation to healthcare systems and hospitals. What is the Pay-it-forward program? Due to the hardships COVID-19 places on healthcare providers, TAG is dedicating all of its resources to providing free recoveries, foregoing revenue from May 1, 2020, through June 30, 2020. \”We are in a fortunate position during these trying times, so I could not think of […]
May 22, 2020

How Internal Audit Can Utilize Recovery Audits to Assist with Financial Stability

Bulletproofing Hospital Finances amidst COVID-19 Since the COVID-19 outbreak, hospital revenues have dropped an estimated $1.4 billion per day, causing over 200,000 healthcare employees to be furloughed or laid off. Though revenue stability is reportedly increasing, it is unlikely that hospitals will see normalcy anytime in the near future. Even before the COVID-19 outbreak, hospitals routinely lost millions each year from unnecessary and unmitigated financial risks. Hospitals rely largely on Internal Audit to help shore up these risks, but one department alone often cannot handle the overwhelming number of system-wide procedural repairs that need to be made. Generally, gaps that […]
May 1, 2020

Press Release: TAG, Inc. Announces New Program with Free 60-Day Recovery Audits May 1 – June 30

SAINT LOUIS, MO / ACCESSWIRE / April 30, 2020 / TAG, Inc., a leader in Procure-to-Pay optimization announces a free program to ease the financial burden health systems are undergoing during the current COVID-19 pandemic. The Pay-It-Forward program will be offered for a period of 60-days to provide recovery audit services at no cost. \”This is our way of giving back. We are fortunate during these times to have job-security and I want to forward that on to our clients and any other health system in need,\” says CEO, John Weiss, Jr. \”While hospitals are bleeding for revenue, we want […]
September 10, 2018

Always Check Your Bills

Even though healthcare organization are often tax-exempt, you’d be surprised at how often they are charged tax—and even more surprised at how many pay it without even realizing. Our own Scott Gillette was working with one of our clients when he discovered that they had been mistakenly paying taxes on their gas bill for years. Take a look. This type of detailed statement review is just one of the many ways The Audit Group works with healthcare groups to manage costs and maximize cash flow. Reach out to our auditing team and learn how our analysis leaves no stone unturned […]
July 30, 2018

Penn Medicine’s Keys to a Successful Supply Chain

In today’s rapidly evolving healthcare market, more hospitals are cutting costs across the board and looking to their supply chain departments to identify the best places to start. Many health systems have taken this opportunity to audit and streamline their supply chains into more focused, profitable departments. Penn Medicine at the University of Pennsylvania is a great example. We recently interviewed Wayne Smith, Vice President, Corporate Materials Management at Penn Medicine to discuss how his team drives quality to throughout the health system. TAG: Why are supply chains so important to today’s hospitals? Wayne Smith: We are working in the […]
July 11, 2018

4 Ways Human Error Impacts Cash Flow

Over the last few months, we’ve looked at cash flow issues found at a number of our client health systems. It’s time to take a serious look at the common thread among them: human error. Although it’s difficult at best to quantify exactly how often human error occurs within a health system, our experience tells us not only that human error is real, but many times it’s been systematized; institutionalized within an organization’s processes; incorporated within its culture to the point it becomes invisible. Here are some of the most common ways we see human error impacts cash flow at […]
4 Ways Human Error Impacts Cash Flow
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