GHX and Workday Align in the Cloud for Healthcare

• Pete Nelson, General Manager, Global Alliances

Over the past 30 years, hospitals have been adopting technologies to steadily increase process automation throughout their operations in an effort to enhance efficiency and reduce costs. It began in the 1980s with the initial use of mainframes and desktop computers for electronic patient registration, continued through the late 1990s with “Best of Breed” systems, such as materials management information systems (MMIS) for order processing and inventory management, and then transitioned in the early 2000s to present day with the adoption of on-premise (“on-prem”) enterprise resource planning (ERP) systems that automated both materials management and financial operations.

Going Beyond Supply Chain Basics: Pricing Alignment in Healthcare

• Susan LaFountain, Product Manager, Industry Adoption

Two decades ago, a few healthcare supply chain partners decided to automate basic transactions so that they could improve efficiency and accuracy and reduce costs – and the GHX Exchange was born. Today over 10 thousand supplier divisions and 19 thousand provider facilities use GHX standards to automate the four core supply chain documents: The purchase order (850), purchase order acknowledgment (855), advance ship notice (856) and invoice (810). These “basic” supply chain transactions encompass the processes around placing an order, delivering the products and billing for those products.

4 Key Elements to a Successful Contract Management Strategy

Healthcare providers need visibility into vendor contracts across the entire organization in order to drive contract compliance, consolidate vendor spend and reduce supply costs. At the heart of improving transparency and visibility is an effective contract management strategy. Without it, organizations lack the ability to obtain and access the data necessary to make smart purchasing decisions and maximize cost savings opportunities.