August 27, 2018

Buying Groups Make Mistakes, Too

Participating in buying groups is one of the easiest ways for smaller, regional hospitals to receive the same level of discounted pricing as larger healthcare networks. Although these groups offer a lot of benefits, they aren’t foolproof. Human error or computer error on the buyer’s side may end up costing your hospital without you even realizing it. This was the case for many of our clients across the country when one company introduced a new color of bedpans. The Audit Group’s Discovery Review and Item Price Benchmarking are designed to reveal inefficiencies in your healthcare organization and ensure you receive […]
August 22, 2018

Keep Tabs on Your Contract Pricing

In theory, contracts should always save your hospital money. However, we often see instances where health systems enter into a multi-year contract with a vendor and simply trust that they will receive the contract price, every time. We recently conducted a pricing review for one of our clients and noticed that one item’s price had incorrectly spiked and cost them nearly $375,000 overtime. Contracts offer convenience and savings for health systems across the country, but they aren’t foolproof. Human error, as well as computer errors, may still disrupt your item pricing and negatively affect your organization’s cash flow. Contact The […]
July 3, 2018

Price Check: Why It Pays to Conduct a Pricing Review

As we’ve discussed, no purchasing department is immune to human error. During the course of normal operation, a health system is bound to overpay for an item here or there. However, we see all too often cases where these errors add up over time, costing the system thousands in lost revenue. At The Audit Group, we perform detailed pricing reviews to identify areas of overpayment, as well as pricing claims to route those funds back to the hospital. How TAG Conducts A Pricing Review To begin a pricing review, our team will receive a data download from the health system: […]
Price Check: Why It Pays to Conduct a Pricing Review
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