Healthy Dose of Supply Chain Savvy: eMarketplace for Healthcare Spend Savings

Healthcare supply chain operations are like no other. For one thing, the cost of healthcare supplies is growing at 23 percent annually. Yet healthcare reimbursements and revenues are flat at best. Making matters worse, disparate IT systems and lack of vendor data make visibility into system-wide spend virtually impossible and leak points virtually undetectable. It’s become urgent to better manage and control escalating supply costs. The question is, how do you stop leaks, control spend and reduce costs without reducing the quality of care to patients?

Test your organization’s supply chain savvy. Answer yes or no to the following questions:

  • Can you control, manage and track spend for Physician Preference Items (PPI)?
  • Can you easily identify on-contract v. off-contract spend for PPI?
  • Can you identify on-contract v. off-contract spend for Purchased Services?
  • Can you track spend by vendor ““ regardless of department or service line?
  • Can you validate contract price for goods and services real-time?
  • Can you confirm your vendor’s accounting of product use and spend?
  • Can you provide compelling data to physicians on product use and cost?

If you replied “˜No’ to 3 or more questions, you may have supply chain leaks that could be costing you real dollars amounting to substantial savings.

Take Control with eMarketplace

If you’re ready to exert more control over your supply chain, SciQuest’s eMarketplace supports healthcare’s tighter control over spend without affecting patient care.

The solution:

  • Yields savings from $2.5 million to over $5 million annually, based on size of health system (Source: SciQuest’s research)
  • Increases contract compliance for PPI by as much as 50 percent
  • Provides visibility to non-stock PPI spend
  • Eliminates blanket POs
  • Validates contract price real-time for goods and services
  • Provides enhanced visibility into your system-wide procurement processes
  • Integrates with industry ERPs
  • Significantly increases procurement savings and ROI

SciQuest offers advanced on-demand software tools that enable Healthcare organizations to reduce costs while delivering more breakthroughs faster. Our solutions include: