Top 10 Ways to Cut Medical-Surgical Supply Spending Now

1. Understand the total cost of ownership of your supply chain
2. Develop data governance policies and synchronize product data with suppliers (using global industry data standards as much as possible)
3. Reduce manual invoice reconciliation by having line level PO-to-invoice match on implant purchase orders
4. Streamline electronic medical record (EMR) system roll-out and maintenance by using up-to-date, clean, accurate data
5. Save an average $12.00-$27.00 per order by improving data synchronization and conducting as much of your purchasing electronically with as many of your trading partners as possible
6. Improve contract effectiveness by loading group purchasing organization (GPO) and local contracts into your purchasing system and validating price at the point of purchase order creation
7. Centralize purchasing across your organization to provide visibility into and control over as much of your supply spend as possible
8. Create visibility into both the total cost and efficacy of the products being used in patient care, so that you can determine the role supplies play in improving cost, quality and financial outcomes
9. Focus on bringing more non-file and off-contract spend under contract, especially high-cost implantable device items
10. Collaborate with your trading partners to achieve mutual benefits

Source: Global Healthcare Exchange
Source URL: http://www.ghx.com/newsroom-events/news-releases/newsid3715/...

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