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 […]
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 […]
Top Three Risks of Blanket Purchase Orders (POs)
Blanket purchase orders (POs) are often used to help reduce system costs, operate with only necessary inventory, and increase purchasing power. Nonetheless, blanket POs are often a source of lost funds for a healthcare system. Typically, TAG recommends limiting or eliminating the use of blanket POs because of the associated risks. We recognize, however, that […]
Optimizing the Returned Goods Process for your Healthcare System
Healthcare systems return an average of 4% of the products they purchase each year. Of that amount, 7% of the amount returned never gets credited back by the vendors totaling a loss of $700,000,000 annually.*no-repeat;left top;;auto in returned goods credits lost each year$700Mvertical Why does the Returned Goods Process Lose Millions? The returned goods process […]