January 29, 2020

Process Mapping: An Essential Tool for Your Procure-to-Pay Processes

Looking to increase margins and cut costs in your health system’s Procure-to-Pay (P2P) processes? One often-overlooked tool to accomplish this is process mapping or creating a visual representation of organizational processes. This not only identifies costly process gaps but also identifies areas lacking accountability and communication. In healthcare systems’ P2P, commonly broken processes include: Extended processing time for an invoice with incorrect POs Delayed vendor payments Contract price implementation Returning products to suppliers Types of Process Maps By identifying the current and ideal states of processes, organizations can more clearly determine where to deploy resources to drive efficiencies and cut […]
December 26, 2018

4 Steps Toward a Best-in-Class Vendor Management System

The relationships between vendors and healthcare organizations are highly complex and data-intensive. In a perfect world, each of these relationships would be documented and maintained in a hospital’s vendor master list–without fail. Although we don’t live in that perfect world, there are still many steps your health system can take to achieve a best-in-class vendor management system. 1. Make Vendor Management a Priority The first step toward building a better vendor management system is recognizing the inadequacies of your current process. If your system is noticing errors like duplicate payments and returned payments, then there may be a gap in […]
December 18, 2018

Make Your Item Master Work for You

Like the vendor master, a hospital’s item master is an immensely powerful set of data that keeps the hospital running smoothly on a day-to-day basis. In our experience, too many health systems view the item master as just another task, rather than the strategic asset we know it is. Let’s take a closer look. Cleaning Up the Item Master An item master full of errors and inconsistencies is more of a liability than an asset. Before you can start seeing the benefits of a well-maintained item master, your organization should commit to correcting existing errors and implementing procedures that prevent […]
Make Your Item Master Work for You
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