The Healthcare Hub

Equity, Environment, Resiliency and Risk: Future Considerations for Healthcare Value Analysis

• Karen Conway, Vice President, Healthcare Value

As health systems prioritize resiliency, sustainability and equity, value analysis teams must consider an expanding list of factors beyond cost and quality. From the impacts of climate change to reducing health disparities, Karen Conway, MSc, CMRP, met with a panel of industry leaders to discuss future considerations for healthcare value analysis teams. Read on to learn about their key takeaways and insights into how value analysis and strategic sourcing professionals can support sustainable, affordable and equitable care. 

GHX named a Healthcare Industry Notable Vendor in 2022 Gartner® Vertical Industry Context

We’re excited to share that GHX was named a Notable Vendor in the 2022 Gartner® Vertical Industry Context: ‘Magic Quadrant™ for Multienterprise Supply Chain Business Networks’. We believe this is meaningful in showing how we help our customers achieve strategic digital transformations and unlock value through collaboration by engaging internally and with trading partners. The expansion of digitization industry-wide helps to modernize and build resiliency in the healthcare supply chain.

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.

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

• John Rodgers, Vendormate Compliance Associate

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.

The GHX 5 Part Framework: Access & Badging Level Vendor Credentialing Compliance

• Jennifer Barber, Vendormate Compliance Associate

Badging is an important safety component for vendor representatives. All vendor representatives should obtain a badge to enter a facility; those who do not meet your organization’s credentialing requirements should be denied a badge.

Introducing the GHX 5 Part Framework for Vendor Credentialing Compliance

• David Sayers, Vendormate Solution Specialist, GHX

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.