The Healthcare Hub

GHX provides a wide range of perspectives on how greater collaboration and visibility across the supply chain can improve both clinical and financial performance in healthcare.

Thursday, January 19, 2023

WATCH ON-DEMAND: From Equity and the Environment to Resiliency and Risk Management: Future Considerations for Value Analysis/Strategic Sourcing Professionals

Once viewed as a necessary expense, the hospital supply chain now plays a critical role in ensuring the continuity of care delivery. And the roles of the value analysis and strategic sourcing professionals will continue to assume greater strategic importance as health systems face a litany of new challenges including continuing shortages and increasing costs, growing market and regulatory demands, and social issues such as health equity and environmental sustainability.

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Wednesday, November 30, 2022

The GHX 5 Part Framework: Document and Policy Level Vendor Credentialing Compliance

Remaining familiar with healthcare’s ever-changing regulatory scheme is a daunting task for today’s healthcare leaders. Hospitals and health systems must comply with no fewer than 629 discrete regulatory requirements across nine domains, and data shows organizations spend nearly $39 billion a year solely on the administrative activities related to regulatory compliance in these nine domains, according to the American Hospital Association’s Regulatory Overload Report. Vendor credentialing is an important subset of broader compliance regulations for healthcare.

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Friday, October 28, 2022

Introducing the GHX 5 Part Framework for Vendor Credentialing Compliance

 

What is the GHX 5 Part Framework?

To help successfully navigate countless state and federal regulations, healthcare leaders need a comprehensive view of vendor credentialing compliance, vulnerabilities and opportunities for improvement. COVID-19 has increased the need to enhance compliance and safety for healthcare providers, yet GHX data from a 2020 survey shows most hospital and healthcare systems regularly fail to reach their vendor credentialing compliance goals due to limited resources, insufficient investment and conflicting priorities for organizational leadership.

The GHX 5-Part Framework is based on the seven foundational industry compliance elements, and is structured to help you manage vendor credentialing compliance across your organization. Our framework offers guidance based on industry best practices and helps reinforce good practice through metrics. It also provides critical components of focus for a vendor credentialing program.

 

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Friday, October 28, 2022

The GHX 5 Part Framework: Vendor Level Vendor Credentialing Compliance

 

In the past, vendor credentialing was primarily required for medical suppliers and pharmaceutical companies. However, with the vast amount of new supply sources that have moved into the healthcare space due to the COVID-19 pandemic, the GHX 5 Part Framework recommendation is that every business be reviewed, validated and monitored for sanctions.

All vendor entities should register with a vendor credentialing organization—not just the ones that come on-site. However, our research indicated that only 15% of providers register all vendors on their credentialing platform.1

This is an area for risks in vendor credentialing compliance if vendor entities are not properly vetted and routinely monitored for sanctions.

 

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Friday, October 28, 2022

The GHX 5 Part Framework: Representative Level Vendor Credentialing Compliance

  • Vendormate Sr. Compliance Solution Specialist, GHX Kim Fox, Vendormate Sr. Compliance Solution Specialist, GHX

5 part framework

As technology evolves, so does the way health systems and business representatives meet, communicate, and interact. With these changes, come new vendor credentialing questions. For example: when a representative virtually remotes into an operating room, do they need to be credentialed?

 

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