Predictive Analytics Identified as the Top Priority for Healthcare Supply Chain Leaders
Predictive analytics and the use of data for informed decision-making top the opportunities identified by some of the leading healthcare supply chain provider firms in North America. The results are based on a survey conducted by Global Healthcare Exchange, LLC (GHX) on priorities and outcomes for the healthcare supply chain in 2017.
When asked what areas supply chain would be critical to the future of healthcare predictive analytics was the leading answer followed by optimizing value-based reimbursement and integration following mergers and acquisitions.
According to the survey, improving operational performance and driving down costs through supply chain automation are top of mind issues with these executives. They see the current focus on accurate data as central to this goal. The link between data on products used in patient care as recorded in electronic health records with accurate and comprehensive information about those products in item masters is key to solving the cost/quality equation.
The survey also revealed that top performing healthcare supply chain organizations are seeking to improve price accuracy between supplier and provider partners as well as standardize business processes and data across the organization. The following areas were identified as among the top healthcare supply chain initiatives planned for 2017:
–Standardization: for physician preference items (PPI) and across all clinical areas; reduction in manual processes and paper transactions; process excellence for operational management; of value analysis process to increase clinical value-add for patient outcomes;
–Contract Management: implementation of contract management system; improve contract compliance; higher contract penetration;
–Data Management and Analysis: better analysis of supply chain costs; master data management; leverage data and analytics; data accuracy;
–Optimization and Cost Reduction: ERP functionality; supply cost reduction; elimination of product proliferation and reduce warehouse items; reduction of special order.
According to the survey, supply chain leaders are increasingly working hand in hand with their clinical peers to help lower costs and improve patient care. In addition, the supply chain team is playing a more strategic role in provider organizations, tackling a variety of critical healthcare issues such as value based care, improving clinical performance and reducing risk.
ProMat keynotes on Tuesday and Wednesday will cover the topic of supply chain analytics as well as several show floor educational sessions. A variety of exhibitors will also be offering solutions in this area. Learn more and register for ProMat at ProMatShow.com.