SpendEdge, a leading provider of procurement market intelligence solutions, has been completed their latest article on the four most common challenges in procurement in healthcare.
Today healthcare services have improved a lot. Researchers have found solutions for many diseases that could not be treated earlier. Such improvements in healthcare could be contributed to the growth of the healthcare procurement processes involving clinical research and medical equipment procurement. However, suppliers in this sector are facing numerous procurement challenges.
At SpendEdge, we understand that organizations end up spending over half of their revenue on purchasing goods and services. Therefore, we have highlighted the top challenges in healthcare procurement.
Challenges in Healthcare Procurement
Limited control in price
Healthcare organizations often lack procumbent data required to develop actionable steps to boost efficiency. This results in unnecessary spend. Companies require health IT systems that can better manage procurement costs under value-based reimbursement models. Such models require organizations to accurately measure and compare healthcare costs with the outcomes of the patient.
Analyzing the costs of various available alternatives can be an arduous task for healthcare organizations. Request free platform access to gain specific category and pricing insights.
Healthcare procurement involves many hidden costs:
Although the cost of products forms the core of healthcare procurement spending, invisible costs such as inventory holding, and distribution expenses forms an integral part of healthcare procurement. Understanding such costs behind utilization, internal distribution, inventory holding, and special deliveries are requisites for organizations to enhance clinician and patient satisfaction. To identify cost-saving opportunities, reach out to our experts now!
Medical equipment procurement:
Medical equipment is usually produced in high volumes with standard specifications. Any customization in specifications results in an increase in the medical equipment procurement cost. Also, meeting the required specifications within the stipulated time frame may lead to errors.
To know more about healthcare procurement and medical equipment procurement challenges, read the complete article here!
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