In today’s rapidly changing world of technology and business, “Hack-A-Thon” has emerged as a buzzword for innovation, collaboration, and customer-centric solutions. Our organization is constantly exploring new ways to achieve our goal of developing products that drive our customers’ success, and the Hack-A-Thon is just one of the many avenues we pursue toward that end.  The concept of breaking down silos is not merely a buzzword; it’s a strategic move that defines the culture of forward-thinking organizations. Our decision to break our Product and Development teams out of their traditi ..read more

Pressures today in healthcare finance, purchasing, and procurement represent a series of interlocking challenges that are having serious impacts on operations and the fiscal bottom line. Inflation and supply chain disruptions are being felt across the industry, and it’s essential for leaders to assess the landscape and take proactive measures.  The numbers are extremely stark: A report from the global consulting firm McKinsey & Company estimates that the healthcare industry as a whole is facing a rise in anticipated spending of $370 billion by 2027 due to inflation.   R ..read more

Healthcare organizations across the continuum of care are continually adapting to changing circumstances and large-scale industry trends. These factors affect the delivery of care and hit hard on functions and workflows in the back office, where keeping clinics and facilities supplied while maintaining a healthy bottom line can represent a delicate balance.   It’s a complex task—one estimate by the global management consulting firm McKinsey & Company places the number of unique SKUs for regional health systems at anywhere from 30,000 to 60,000 for clinical supplies.  Pur ..read more

Healthcare procurement always faces evergreen challenges such as controlling costs, managing inventory, and assuring regulatory compliance in an ever-evolving industry. More recent factors that have impacted procurement and accounts payable in the healthcare space have included inflation, staffing difficulties, and supply chain disruptions that place pressure both on everyday operations as well as the organizational bottom line.   Leaders in procurement and accounts payable more than ever understand the value of being proactive and forward-looking. It’s no longer enough to rely on ..read more

Healthcare professionals from back-office procurement officials to c-suite finance executives are witnessing fiscal stresses on their organizations today at all levels of scale and scope of operation. These challenges are impacting bottom-line profitability and ripple through facilities, medical offices, and clinics.  Supply chain disruptions and inconsistencies can quickly make inventory management a major headache that stresses thin profit margins. For clinicians, getting what they need on the ground can become an everyday worry. And inflation makes itself felt every step of the way ..read more

The Current Environment of Artificial Intelligence  The healthcare industry today is facing what one report called a “gathering storm” of challenges that include financial pressures from inflation as well as headwinds in staffing and demographic change.    Disruptions in supply chains are among the factors that make healthcare procurement such a critical element in both healthcare finance and operations. Clinicians need the right supplies at the right time. Care facilities need perishable items that are also major cost centers. And financial officials are looking at the ..read more

Finance executives in healthcare today are facing a unique combination of pressures and headwinds. Large-scale inflation has placed severe pressure on everything from the procurement of supplies and services to facility maintenance. Fast-moving changing trends in the workforce have led to staffing turnover, instability, and labor shortages, further impacting the bottom line.   Finally, the possibility of recession or deepening economic challenges loom over leaders and decision makers in the healthcare sphere. In a report that calls current circumstances in healthcare a “gathering storm ..read more

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Current Climate The healthcare industry, by necessity, operates under rules and regulations that make navigating business functions uniquely challenging. From the clinician’s office to the post-surgical facility to elder care, a web of complex and often-changing compliance requirements can be daunted even for seasoned professionals. This is true in the field of healthcare procurement, inventory management, and accounts payable, business functions tasked with keeping supplies and services flowing while maintaining a healthy bottom line—all the while maintaining compliance across a wide spectru ..read more

Purchasing and materials management are the lifeblood of healthcare organizations across the continuum of care. Because they are also one of the largest expense centers, procurement officials and financial executives recognize the crucial balance between keeping supplies fully stocked and available along with cost considerations that place a major impact on the bottom line.   Today’s challenges are considerable. Inflationary pressures are impacting healthcare procurement and inventory, along with supply chain disruptions that, if not managed with foresight and visibility, affect everyda ..read more