July 17, 2023

The Power and Pitfalls of OCR Tools in Healthcare Procure to Pay

In the fast-paced world of healthcare auditing, automation has emerged as an invaluable asset. Keeping up with the advancements in AI technology is crucial, along with understanding its limitations. Optical Character Recognition (OCR) is a key success factor in procure to pay (P2P) automation. OCR tools have revolutionized how documents are processed, enabling greater efficiency and accuracy. However, it’s important to exercise caution when relying solely on OCR tools for automation. OCR converts scanned or photographed documents into editable text. As an indispensable tool for healthcare Accounts Payable (AP) and Supply Chain departments, OCR expedites the otherwise time-consuming process of […]
September 16, 2022

How to Increase your Health System’s Spend Visibility (Spend Visibility Part 3)

To truly reap the benefits of spend data, health systems must take action to clean and structure all procure to pay (P2P) data. Follow the steps outlined below to gain true visibility at your hospital.   How to Increase Spend Visibility   Step 1: Identify All Sources of Data  One of the largest challenges hindering health systems from reaching clear spend visibility is the multiple data sources. Identifying all data sources necessary to gain true insight into spend fuels the analysis and decision-making process throughout procure to pay (P2P) processes. Data Sources for Spend Visibility ERP System  Contracts  Dark data sources […]
August 29, 2022

Is your Health System Achieving Clear Spend Visibility? (Spend Visibility Part 2)

Insight into spend visibility is essential for decision-making within finance and supply chain in health systems. Clear spend visibility provides information for leaders to make supply decisions, evaluate their procure to pay processes and gain insight into usage and product waste. The benefits of spend visibility are endless, but health systems and hospitals struggling to gain true visibility. Learn why your health system leaders need spend visibility now with part one of this series. Read now. Why Health Systems Struggle to Gain True Spend Visibility Disparate Data. Health systems create and hold a large volume of data from various sources […]
December 21, 2020

Tips for all Healthcare Workers to Protect against Cyberattacks

Cyberattacks have been a growing threat in healthcare over the past year and there is no end in sight. In fact, one Georgia University Hospital reported defending against 550 cyberattacks on their Epic MyChart system each day – 20% of them coming from emails to staff. However, not all attacks are defended. In 2019, 41.4 million patient records were compromised – almost three times more than in 2018, and the COVID-19 pandemic heightened this in 2020 as many healthcare workers moved to virtual workspaces. Recent survey results suggest that 1,500 healthcare providers are vulnerable to data breaches of 500 or […]
March 19, 2020

Are You Ignoring the Dark Data in Your Procure-to-Pay Process?

90% of the data that your health system produces is dark data that never gets used. Think of the knowledge and insight that could be realized if your Supply Chain and AP departments utilized more than 10% of their data. You could gain insight into efficiencies, root causes of leaked funds, and process gaps. This is information your company already has but lacks the resources to obtain. What is dark data? According to Gartner, dark data is the information assets organizations collect, process, and store during regular business activities, but generally fail to use for other purposes. Put simply, dark […]
Are You Ignoring the Dark Data in Your Procure-to-Pay Process?
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