Knowledge Center

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Source: IMDA Update - February 2013
Numerous papers written recently predict the impact of the economic downturn on the healthcare industry. Many of these predictions are now headlines – reduced labor budgets, declines in elective and out-patient volumes/surgeries, and smaller, or in some instances, no capital budgets. Because of the role supply chain plays in the financial well-being of an organization and the current economic environment, supply chain leaders can anticipate:
Managing contract pricing more effectively—from creation to renewal or expiration—can deliver real operational and financial benefits for healthcare organizations. Yet because of its complexity, contract price management may be one of the most underutilized tools for maximizing cost savings in healthcare. Disparate information technology (IT) systems that do not share information and lack of widespread adoption of industry data standards for product and organizational/location identification all contribute to this complexity.