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January 11, 2022
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 […]
December 13, 2018
Medical equipment for hospitals and healthcare systems can range from a small needle to an enormous MRI machine. Shipping such heavy equipment incurs large freight costs for hospitals. Without foresight or proper monitoring, excessive freight costs can be mistakenly approved for payment. For example, during a recent Discovery Review, we identified that a health system paid $28,000 for freight on operating room equipment when the actual freight charge was $11,000. Causes for Incorrect Freight Charges In the case of the health system that we worked with recently, it all came down to the payment policy. This health system allowed freight […]
