When it comes to the future of healthcare and the areas where supply chain will play the most critical role, a survey by Global Healthcare Exchange says predictive analytics and the use of data for informed decision-making will be the area where supply chain is most critical.
Annually, GHX evaluates the performance of the more than 4,000 hospitals in the United States and Canada connected to their electronic trading exchange, then selects the 50 who score highest in their automation of transactions with their trading partners, as well a other criteria. GHX asked these Best 50 what supply chain areas would most crucial to the future of the healthcare industry.
After predictive analytics, optimizing value-based reimbursement and integration after a merger or acquisition ranked the next key areas identified by respondents, GHX said.
Additionally, the survey showed that the best performing supply chain organizations will seek to improve price accuracy between suppliers and providers, as well as standardization of business processes and data across their respective organizations.
Specifically, initiatives in four key areas were identified by respondents. Standardization efforts will focus on physician preference items; decreasing use of manual processes and paper transactions; optimizing processes for operational management, and analyzing processes to add clinical value for patient outcomes.
In contract management, leaders hope to implement contract management systems and improve compliance.
Data management and analysis efforts will hone in on improving supply chain cost analysis, mastering data management and leveraging data and analytics.
“Quality data is the foundation for all analytics activities,” GHX said. “Supply chain leaders anticipate the use of this information becoming an important contributor to value measurement as an important metric for assessing overall financial performance.”