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April 27, 2022
To keep up with the changing world and future world events such as the COVID-19 pandemic, health systems must adopt leading supply chain automation. Automation can ease workflows, bring insight into current operations, create resiliency, and future-proof healthcare’s supply chain. Automate Supply Chain Data Infrastructure Data is dispersed between several different supply chain systems including the EHR, ERP, inventory management, etc. To begin to gain insight into data from all of these systems, it must first be consolidated in one place, thus providing a single source of truth (SSOT) by use of automation. Creating the proper infrastructure with an SSOT […]
March 17, 2022
The Challenges of Pharmaceutical Procurement Managing the pharmaceutical procurement process for a large health system is a complex and grueling process. Why? Because it is commonplace for these organizations to purchase from multiple manufacturers and distributors – resulting in excess of 100 accounts. With so many pharmaceutical accounts to manage, it becomes difficult to know whether health systems continue to get the correct or best price. For example, during the course of a year, a health system paid nine different prices for Astra Zeneca’s drug Symbicort ranging anywhere from $0.05 to $232. Most health systems are not equipped with the […]
January 20, 2022
The past two years in healthcare is something for the history books, and the year to come will be no less of a challenge. Supply Chain and Accounts Payable have been – and will continue to be – pressured to deliver fiscally responsible creative sourcing strategies to efficiently [and correctly] pay the bills. All this while staff has been cut, supply shortages linger, price spikes continue, and invoice processing is falling behind. Simply put, more is being expected from less. I have no doubt these challenges will continue into the foreseeable future. The fact of the matter is that we […]
January 11, 2022
Ensuring vendor compliance at your health system may seem like a daunting, impossible task that never ends. You’re not wrong. Managing thousands of vendors and holding them accountable is complex and requires attention to detail and a timely dedication your Procurement and Accounts Payable (AP) staff may not have. The results of not doing so can be catastrophic to your health system’s bottom line, costing the healthcare industry $1.7B* annually. To battle this, your health system must create a comprehensive vendor compliance management policy and process. What to Consider in your Vendor Compliance Process Bring AP and Supply Chain Departments […]
January 7, 2022
ST. LOUIS, January 6, 2022 (Newswire.com) – TAG Inc., the leader in healthcare procure to pay (P2P) optimization, cost savings, and consulting, announced a record year for revenue and people growth in 2021. TAG’s revenue for 2021 reached its highest in company history and a 32 percent increase over the previous year as it continues to deliver savings and efficiencies to health systems across the USA. The organization’s Operations department grew by 16 percent, allowing TAG to deliver more savings and provide additional services. “It has been a pivotal year for us as we continue to help our clients recover funds lost […]
December 15, 2021
Increased levels of connectivity, remote working, telemedicine, and automation have heightened the need to strengthen health systems’ cybersecurity. The FBI and Internet Crime Complaint Center’s (IC3) reported that complaints of cybercrime nearly doubled from 2019 – 2020 before hitting a record total of almost 800,000 complaints. Furthermore, data breaches at health systems cost an average of $7,130,000 caused by downtime and new security measures. Cybersecurity Strategies for Attack Prevention at Health Systems 1. Practice vigilance and good cyber hygiene. Healthcare organizations must gain awareness of cybersecurity risks and practice good cyber hygiene across all devices including mobile phones, tablets, and computers. […]
November 18, 2021
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– $7M 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: Interdepartmental communication and accountability Clearly defined responsibilities and policies Ownership, accountability, and oversight Leveraged Technology such as a returned goods log Reconciliation Tracking of […]
October 27, 2021
Managing mobile devices throughout a health system can be a complex and time-consuming task. Not only does device utilization need to be monitored, but security and compliance are also of the utmost importance. That’s why mobile device management (MDM) is essential to your organization’s telecom expense management (TEM) strategy. 5 Reasons you Need Mobile Device Management Help Cost Control With mobile management solutions, you can utilize the buying power of your TEM service providers to negotiate the best rates and easily monitor competitive service providers for additional savings opportunities. In fact, TAG’s mobile solutions reduce your mobile and wireless spend by up to 40% with […]
September 29, 2021
The last two years in healthcare have brought on challenges our industry has never experienced with the onset of COVID-19. As 2022 approaches we begin preparing for post-pandemic operations and take a look at trends in healthcare’s Accounts Payable (AP) departments. 5 AP Trends in Healthcare Disbursed Workforce The pandemic has brought on the need for remote workers throughout operations in health systems. Many healthcare organizations plan to keep the remote working structure in place to save on operating and real estate costs. According to Gartner, 82% of company leaders plan to allow employees to work remotely at least part of the time […]
