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December 7, 2018

Common Issues with 340B Program Pricing

The 340B Drug Discount Program is a tremendous resource for hospitals that qualify, but our experience tells us that many of them are not receiving program pricing every time they make a purchase. In this post, we’ll take a look at some common 340B pricing issues and how they occur. What makes the 340B program such a challenge to manage? The 340B program is a wide-reaching program with many moving parts, so it’s no surprise the program has a lot of room for error. For starters, obtaining 340B program approval is a complex task requiring a significant amount of time […]
July 25, 2018

Tips for a Successful Item Master Cleanup

Your health system’s item master is a highly valuable, often overlooked set of data. Properly maintained, and your item master will ensure your group receives the correct items for the correct price, every time. A neglected item master, however, may create long-term issues for your system, such as pricing errors. Let’s take a closer look at ways your item master could be flawed and how your team may improve its effectiveness. Following the Item Master The item master is only effective when it is used. If someone purchases a product without using a purchase order, the item master is not […]
February 9, 2018

Save Money by Researching Items Not Linked to Contracts

With the complex network of pricing structures at hospitals, purchasing departments may have difficulty ensuring all products and services are accurately paid for. A single health system may have hundreds of individual pricing contracts and agreements, both directly with vendors through a GPO. With all of the confusion that can arise, it is important for Accounts Payable to look into items not linked to contracts to ensure accurate pricing and avoid overcharges. Making sure a hospital pays the correct price on every invoice involves a three-step process: Determine the correct price and most favorable terms before an order is placed […]
Save Money by Researching Items Not Linked to Contracts
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