Price Sync Managed Service
The anticipated benefit of contract pricing is often lost through price misalignment. Without clean accurate data you can't consistently reduce exceptions and realize the full benefit of contracted prices. Due to the complexity of contracting in the healthcare industry and low contract match rates, extra effort is required to increase contract price alignment and support your financial goals.
Price Sync Managed Service facilitates contract price alignment with your trading partners to help increase transaction accuracy. Using a web-based workflow technology, GHX facilitates contract alignment with your vendors for industry leading exception rates, targeted at below two and a half percent. All contracts are loaded electronically and matched with the hospital item master and price validated for electronic order, delivering improvements to your order-to-invoice match rate that can yield savings up to three percent of your total spend. GHX communicates directly with your suppliers on discrepancy resolution and exception information is communicated at the contract level instead of the current time-consuming manual follow up at each order line — freeing time for your team to focus on other value-added activities.