Returning unused or unwanted products at your health system is unavoidable making a well-defined returned goods process an essential asset. Industry leading returns processes directly reduce millions of dollars in exposure to risk– $7 annually at health systems in the USA.
No health systems are alike making it difficult to design a one process fits all approach to the industry’s returned goods issue. However, there are several elements that are critical in a successful returns process including:
Proactive returned goods management protects an organization from financial loss and requires diligent documentation from the multiple departments listed below. Regardless of the systems and technology your health system uses the same information should be tracked in a log and documented along the way.
Returning goods is unavoidable and truly is an interdepartmental initiative that requires action and buy-in from multiple areas. Investing in an optimized returns process is an essential step towards protecting your healthcare system from loss, risk, and exposure.
Replacing a reactive and retroactive returns management approach requires proactive behavioral changes. The first step in fostering change is tracking and documenting key information as mentioned above.
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*Averages and estimates provided were calculated using trends discovered at our clients’ health systems.