TAG, Inc. to Attend HFMA and AHRMM 2023 Conferences
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 […]
Centralized AP vs Decentralized AP at your Healthcare System
Does your health system operate a centralized Accounts Payable (AP) department or run decentralized departments and systems? Is your current structure effective and efficient, or is money being leaked through your AP operations? Understanding how your health system’s AP operates and the benefit of different operating models is essential to decision-making. It takes AP one […]
TAG, Inc. Selected as One of the MOST RELIABLE Firms in St. Louis
TAG, Inc., a leading provider of healthcare procure-to-pay solutions, is proud to announce its sponsorship of the Sixth Annual AdventHealth Golf Classic, hosted by AdventHealth Foundation Central Florida. As a gold event sponsor, TAG, Inc. will sponsor two holes and field three teams comprising key members of AdventHealth’s Finance and Supply Chain teams alongside representatives from our company.
The event, scheduled for May 10, 2024, at the Reunion Resort and Golf Club, brings together 250 community partners and AdventHealth leaders for a day of golf and philanthropy. Proceeds from the event will support AdventHealth Foundation Central Florida’s mission to provide comprehensive whole-person care and ensure vital community programs continue to thrive.
5 Accounts Payable (AP) Benefits of a Recovery Audit
Account Payable (AP) gets the “short end of the stick” in health systems’ procure to pay (P2P) process. AP is often left resolving exceptions, rushing last-minute payment requests, and struggling to keep the hospital off vendor credit hold. AP corrects upstream P2P mistakes, resulting in more work and backlogs and reducing efficiency. However, many AP […]
Taking on Healthcare’s Greatest Challenges in 2023
Nonprofit health systems and hospitals will take years to recover from the effects the pandemic has on their labor force, cash flow, and supplies. In fact, high labor and supply costs are adding unprecedented debt to hospitals leaving one health system reporting their debt as high as $6.34 billion in December 2022. However, 2023 is […]
Six Reasons 3-Way Matching is a Must at Your Health System
Veering from the 3-way matching process by not using a purchase order (PO) puts health systems at risk of erroneous transactions and a simple way of detecting potential fraud. According to our data, health systems do NOT use a PO on an average of 69% of transactions.* What is 3-way Matching? The three-way matching process […]
Understanding Healthcare’s Procure to Pay Process
Procure-to-pay (P2P) processes comprise various smaller processes that all lead to acquiring and purchasing goods for a health system at the most advantageous price. Purchasing and paying for items seems simple, but in large health systems and hospitals spanning various departments and locations, the process easily breaks down. It only takes one error or process […]