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June 28, 2022

How to Map your Health System's Procure to Pay Process - TAG Inc.

How to Map your Health System’s Procure to Pay Processes

Health systems lose millions each year due to process inefficiencies and errors throughout the procure to pay (P2P) process. Most of these lost funds are preventable, but teams are content, in a state of denial, or misunderstand the process. To bring awareness and begin to prevent leaking dollars, begin by creating a procure to pay process map. What is Process Mapping? Process mapping, or process flow mapping, is the visual representation of how tasks are actually completed in a workflow. A process map brings visibility to who is involved in a process and sheds light on areas that need improvement. […]

June 24, 2021

Tips for Influencing without Authority to Optimize Healthcare Business Processes

At TAG, we urge that optimized processes are the key to increased efficiency and productivity while decreasing leaked funds – especially in your health system’s procure to pay (P2P) processes. But how do you make a returned goods or exceptions handling process-improvement project a priority for your leaders? Priorities vary depending on the level of decision-making you have in your organization. You do not always need to hold the “power” to make a difference or kick start a project. With a bit of drive, persistence, and influence you can begin making an impact at any level – as a supply […]

February 27, 2020

Procure-to-Pay End User Role - TAG Inc | The Audit Group

Missing a Piece of the Puzzle: The End User’s Role in the Procure-to-Pay Process

Typically, the players in the Procure-to-Pay (P2P) process are considered to be Supply Chain and Accounts Payable. Most systems fail to acknowledge an equally crucial player – the end user. Though many recognize that the end-user kicks off the P2P process, they do not see that the success of the P2P process often hinges on the end user’s first acts. Traditionally, the end-users’ role is relegated to requesting products and, perhaps, some aspects of receiving. The end user’s requests are focused on their needs – either individually or as a department. Because they are provided with limited information about the […]

January 29, 2020

Healthcare Procure to Pay Process Mapping - TAG Inc - The Audit Group

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 […]

July 30, 2018

Penn Medicine’s Keys to a Successful Supply Chain

In today’s rapidly evolving healthcare market, more hospitals are cutting costs across the board and looking to their supply chain departments to identify the best places to start. Many health systems have taken this opportunity to audit and streamline their supply chains into more focused, profitable departments. Penn Medicine at the University of Pennsylvania is a great example. We recently interviewed Wayne Smith, Vice President, Corporate Materials Management at Penn Medicine to discuss how his team drives quality to throughout the health system. TAG: Why are supply chains so important to today’s hospitals? Wayne Smith: We are working in the […]