April 9, 2024
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December 14, 2023
Health systems face a constant challenge: ensuring efficient and cost-effective operations while maintaining the highest quality of care for patients. At the heart of this challenge lies the procure-to-pay (P2P) process, a critical component of supply chain management and cash flow. Procure-to-pay transformed to adapt post-pandemic, driven by technology and the healthcare supply chain’s growing complexity in recent years. As we move into 2024, several key trends shape the P2P landscape for hospitals and health systems. Read on to learn more. Impacts on Procure-to-Pay in 2024 Despite a promising outlook for P2P in healthcare, acknowledging ongoing challenges empowers leaders to […]
September 28, 2023
How do you increase your team’s productivity while decreasing burnout? Studies continue to show that leaders who prioritize a work-life balance achieve an increase in productivity by an average of 13 percent. But how do you accomplish this? 5 Ways to Create a Culture that Prioritizes Work-Life Balance Promote Flexibility Creating flexibility acknowledges the diverse needs of your team members and accommodates a better work-life balance. With balance, team members can become better workers, parents, friends, caregivers, volunteers, or other roles they lead throughout their lives. How can leaders promote flexibility in their teams? Provide flexible hours. For example, provide […]
August 24, 2023
Health systems and hospitals leak over $2B* annually – above the average annual hospital expenditure. While some leaked funds will be lost forever, healthcare leaders can partner with third-party companies to perform a diagnostic recovery audit and get up to 25 percent of the leaked funds back. Recovery audits are a vital tool for identifying and recovering this lost revenue. By systematically examining financial and operational data, recovery audits can help healthcare organizations identify errors and prevent future financial leakage. However, not all companies that perform recovery audits are created equal. When choosing a partner, consider several factors, including healthcare […]
July 17, 2023
In the fast-paced world of healthcare auditing, automation has emerged as an invaluable asset. Keeping up with the advancements in AI technology is crucial, along with understanding its limitations. Optical Character Recognition (OCR) is a key success factor in procure to pay (P2P) automation. OCR tools have revolutionized how documents are processed, enabling greater efficiency and accuracy. However, it’s important to exercise caution when relying solely on OCR tools for automation. OCR converts scanned or photographed documents into editable text. As an indispensable tool for healthcare Accounts Payable (AP) and Supply Chain departments, OCR expedites the otherwise time-consuming process of […]
June 9, 2023
ST. LOUIS, June 7, 2023 (Newswire.com) – TAG, Inc., the leader in healthcare procure to pay (P2P) optimization, cost savings, and consulting, announces its sponsorship and attendance at upcoming industry events. TAG is sponsoring the HFMA Annual Conference 2023, held in Nashville, Tennessee, from June 25-28. This conference brings together the brightest minds in healthcare finance and supply chain management, creating a platform for collaboration, innovation, and transformative discussions. On top of sponsoring the weekend, TAG will be present in booth 907. “We are excited for the opportunity to engage with industry leaders to share our insights and expertise that continue to shape the […]
