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November 18, 2021

What to document when making a return - TAG Inc

Returned Goods Process: What to Track and Document

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 […]

September 21, 2021

Press Release from TAG Inc - The Audit Group

TAG Inc. Announces New Service – Healthcare Supply Chain Consulting

ST. LOUIS, September 21, 2021 (Newswire.com) – TAG, Inc., a leading provider of cost-savings strategies in healthcare’s procure to pay space (P2P), expands its supply chain service offerings. The healthcare-exclusive company now offers supply chain consulting and optimization spanning all areas of operation. TAG has partnered with Matt Mentel to provide supply chain consulting to health systems and hospitals throughout the United States. The organization now has the ability to optimize supply chain processes, tools, and train personnel to improve performance, production, and efficiencies. Mentel brings 23 years of experience focused on healthcare supply chain optimization and clinical integration. “Supply chain is one of […]

August 27, 2021

Takeaways from the AHRMM 2021 Conference

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 […]

May 11, 2021

Types of Leaked Funds at Health Systems and their Root Causes - TAG Inc

How does your Health System Leak Funds?

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

Supply Chain Interview with Sean Poellnitz - TAG Inc

A Resilient and Agile Supply Chain Led by Sean Poellnitz at Mosaic Life Care

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 […]

September 28, 2020

Essential Healthcare Supplier Contract Clauses - TAG Inc - The Audit Group

6 Essential Clauses to Include in Healthcare Supplier Contracts

US Healthcare supply chain overspends by $25.4B each year, equating to 30 percent of total spend in the industry. Healthcare supply chain leaders must be proactive to eliminate the causes that contribute to this overspend, starting with the first line of defense – supplier contracting. Healthcare systems must review their general agreements and additional clauses to ensure they include the information below to protect against overcharges and other causes of leaked funds. Freight Charges Freight charges must be addressed in each supplier contract to include the party responsible for paying the freight. Organizations are encouraged to negotiate freight charges to […]

September 13, 2020

Medical Device Warranty - TAG Inc - The Audit Group

Managing Medical Device Warranties

Manufacturing medical devices in the US is $47B a year industry with implantable devices accounting for $26.75B. With revenue values this high accounting for essential life-saving equipment, it is important for healthcare system leaders to understand the true or total cost of ownership. This not only means the original purchase of the devices but also takes into account equipment warranties. Afterall, warranties exist to mitigate the risks related to ownership and help create vendor reliability. However, the healthcare industry as a whole continues to struggle to manage their warranties, especially when it comes to implantable devices. Getting greater insight into […]