April 21, 2020

Healthcare’s Accounts Payable Teams Serve as Revenue Generators during COVID-19 Pandemic

Our nation’s healthcare industry experienced a spike of unemployment in March 2020 with a decline of 43,000 job losses as hospitals continue seeing millions of dollars lost in Q1. 151 hospitals alone have furloughed over 15,000 workers not seen as essential to cut costs while elective procedures and other sources of income are put on hold. Right now, it may seem to make financial sense to reduce clerks in Accounts Payable (AP) because they are “overhead,” not revenue generators. How can AP and Finance Leaders Make a Case for Their Workers? How can AP be turned into a revenue generator? […]
April 7, 2020

COVID-19: Impacting Healthcare’s P2P Processes – 4/06/2020

As COVID-19 continues to sweep our nation, drug and med-surg supply shortages, price gouging, and fraudulent activities are increasingly impacting our healthcare systems’ Supply Chain and Accounts Payable departments.  This Week’s P2P COVID-19 Updates  Price Gouging of Short Supplies Continues   While there are widespread efforts to curb price gouging during this crisis, health systems continue to fall victim, paying any price to procure necessary supplies. The state of New York, as a whole, is paying up to 15 times normal pricing for their medical equipment. Heightened demand and competition among states, cities, and hospitals contribute to the markup. Equipment that saw markup in New York includes:  400% mark-up  on gloves  $7.50 charged for masks previously […]
March 30, 2020

COVID-19: Impacting Healthcare’s Procure-to-Pay Processes – 3/30/2020

As COVID-19 continues to sweep the nation it has been a test on our healthcare system. While our thoughts are with those on the front-line, there is no ignoring the strain that this pandemic has on the Procure-to-Pay (P2P) process. That is why we are bringing you the most recent news affecting Supply Chain and Accounts Payable each week. Recent Industry Highlights Vizient Calls the US Government to Act on the Supply of Drugs A leading GPO, Vizient, recommends that the government control the supply of essential drugs during this pandemic. The GPO reports that there has been a spike […]
March 25, 2020

COVID-19: Impacting Healthcare’s Procure-to-Pay Processes – 3/25/2020

The novel coronavirus is affecting our daily lives in ways we have never experienced before. At TAG, Inc., we are dedicated to helping ease these pressing times in any way we can. We ARE here for you. One way we wish to do this is by bringing the latest from P2P teams including Contracting, Supply Chain, and Accounts Payable to you. Recent Industry Highlights Reprocessing of N-95 Masks and Face Shields Medline, Inc. has started reprocessing used N-95 masks and face shields using an FDA-approved process to return the items back to hospitals for reuse. The process includes a thorough […]
COVID-19: Impacting Healthcare’s Procure-to-Pay Processes – 3/25/2020
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