The Healthcare Hub | GHX
The Healthcare Hub
The Healthcare Hub blog focuses on how greater collaboration and visibility across the supply chain can improve both clinical and financial performance in healthcare. Working with hospitals, manufacturers, distributors and group purchasing organizations (GPOs) in North America and Europe, GHX provides a global perspective on issues such as healthcare reform, standards adoption, automation, e-commerce and demand planning, among others.
categoryPublishKey:
ghxCategory: Invoice and Payment Automation,Supply Chain Optimization
Tuesday, April 18, 2017

Healthcare suppliers want to offer choices for payment processing and providers need options, but what is the real cost on both sides?

When it comes to payment options, the more choices the better right? Healthcare suppliers want to get paid fast, and healthcare providers want to take advantage of early pay discounts and rebates, and avoid late fees. So why not have a variety of payment methods in place: check, wire, credit card, Automated Clearing House (ACH), etc.?

But choice can add costs.

Matt Houston
Executive Director, Product Management, Hospital and Financial Services Products
categoryPublishKey:
ghxCategory: Compliance and Credentialing
Tuesday, April 11, 2017

The second phase of OCR audits is not the permanent program but we have learned somethings so far 

Managing business associate (BA) relationships in this era of change takes an ongoing approach. In fact, building a culture of compliance is the only way to make iterative improvements. So, does your organization demonstrate a culture of compliance through daily actions? Do you know the areas where the Office for Civil Rights (OCR) is putting the most emphasis? Does your organization understand the current definition of a business associate in the eyes of the OCR? 

categoryPublishKey:
ghxCategory: Invoice and Payment Automation,Supply Chain Optimization
Tuesday, April 04, 2017

Disconnect between finance and supply chain is costly for healthcare suppliers and providers

In healthcare we typically operate in silos, with the right hand blind to what the left hand is doing. Take for instance finance in both provider and supplier organizations. While accounting and accounts payable/collections might communicate regularly with treasury and engage in all-team meetings, their structures, business processes and policies are often disjointed. Without an integrated approach throughout its financial functions, an organization cannot fully assess its activities and identify opportunities for cost savings.

Matt Houston
Executive Director, Product Management, Hospital and Financial Services Products
categoryPublishKey:
ghxCategory: Item Master and Data Management,Supply Chain Optimization
Tuesday, March 28, 2017

The healthcare industry is undergoing a transformation aimed at providing higher quality, more cost-effective care. Key to striking the balance between cost and quality is data.

At GHX, we know data can help organizations set strategic direction and direct critical business and care decisions. However, this only holds true when “bad data” does not serve as the foundation for efficient and effective value analysis efforts. 

For instance, healthcare providers take advantage of their supply chain data to help reduce cost and improve standardized patient care. That data, coupled with predictive analytics, helps to better anticipate future product demand — which enables providers to avoid losing speed to patient care due to discontinued or backordered products. 

Bill Brewer
Manager, Product Manager
categoryPublishKey:
ghxCategory: Invoice and Payment Automation
Tuesday, March 21, 2017

Whether you are a healthcare provider or supplier, your supply chain and finance teams put a great deal of time and effort into the negotiation, enactment, management and governance of contracts, not only with your customers and vendors but across your own organizations.

But how effective are you at both getting what you are promised and also delivering what you promised?  How balanced are the puts and takes — in other words, is there enough governance in the process and is control in the right place(s) to facilitate the most balanced and mutually beneficial actions in support of agreed-upon terms?

Matt Houston
Executive Director, Product Management, Hospital and Financial Services Products
categoryPublishKey:
ghxCategory: Invoice and Payment Automation
Tuesday, March 14, 2017

As a healthcare supply chain professional, when was the last time you strategically collaborated with your colleagues in accounts receivable (AR) or accounts payable (AP)? Think back to your last customer or vendor contract planning session - did you carefully consider fulfillment obligations around terms, such as payments – and how this would impact the financial health of your organization?

Matt Houston
Executive Director, Product Management, Hospital and Financial Services Products