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August 27, 2021
AHRMM’s annual conference did not disappoint in delivering educational information to spark innovation, collaboration, and new relationships to tackle the ongoing pandemic. The conference focused on recovery as all attendees and speakers spoke about preparing for the post-pandemic world. Healthcare’s supply chain will return to a transformed normal where new pressures arise mixed with pre-pandemic challenges. TAG Inc team members, Brandie Wilkes and Andrew Brandenburg shared their experiences with the rest of the team TAG and brought back news of excitement and opportunity for our clients in healthcare’s supply chain. “It was great to hear about the innovation that […]
August 17, 2021
2020 not only brought on a seemingly never-ending pandemic, but it also brought back the 1099 form complicating filings for health system’s accounts payable (AP) departments. Health systems commonly have 5,000+ unique 1099 vendors on an annual basis that will be paid multiple times throughout the year. Small oversights in your vendor management process can quickly lead to headaches, extra manual work, and large fines from the IRS. What is a 1099 Vendor? A 1099 vendor is a business or an individual that has done work for your health system, has been paid in excess of $600, and does not […]
July 27, 2021
There is no shortage of data to track and measure, but tracking the right data is what matters – especially when measuring departmental and individual performance. Use these Key Performance Indicators (KPIs) to track, monitor, and measure a Health System’s AP department on efficiency, productivity, and cost savings. Top AP KPIs Invoice Cycle Time Invoice Cycle Time must be monitored and closely managed to avoid late payment penalties and allow the health system to take full advantage of all prompt pay discounts. Depending on your health system’s cash flow strategy, AP should aim to lower their invoice cycle time to […]
July 16, 2021
St. Louis, Mo. – July 14, 2021 – TAG Inc, the leader in procure to pay savings and consulting services for the healthcare industry, announced today that The Globee® Awards, organizers of world’s premier business awards programs and business ranking lists, has named TAG as a two-time winner in the 6th Annual 2021 American Best in Business Awards. The sought-after American Best in Business Awards recognizes industry leaders, services, performance, products, and teams across all industries and offered additional awards this year as a response to the COVID-19 pandemic the changed the world. TAG received the following awards: Company of the […]
June 24, 2021
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 decision-making you have in your organization. You do not always need to hold the “power” to make a difference or kick start a project. With a bit of drive, persistence, and influence you can begin making an impact at any level – as a supply […]
May 11, 2021
You hear time and time again that your health system continues to leak funds, especially within the procure to pay (P2P) process. But, what does it really mean to “leak funds,” and what causes these leaks? Keep reading to find out. “Leaking funds” is the loss of funds within your health system that are caused by errors and/or inefficiencies within your department/health system. Common Types of Leaked Funds Overpayments Overpayments occur when your health system pays more than the agreed-upon contract price for services. It is important to verify the invoiced total with the contracted agreement before processing payment. The […]
April 8, 2021
Earlier this year, TAG held a P2P Virtual Healthcare Symposium featuring key healthcare systems leaders in the procure to pay (P2P) process. While this event covered many topics, the industry faced dealing with the COVID-19 pandemic, it only touched the surface of topics regarding crisis management, procurement struggles, and leadership. We recently met up with one of our panelists, Sean Poellnitz, VP of Supply Chain at Mosaic Life Care, to take a deeper dive into some of the ideas and tactics he mentioned during the Symposium. Interview with Sean Poellnitz TAG: Throughout the symposium, you mentioned that your strategy […]
