Support financial goals with increased contract price alignment
The anticipated benefit of contract pricing is often lost through price misalignment. Without clean accurate data you can't consistently reduce exceptions and realize the full benefit of contracted prices. Due to the complexity of contracting in the healthcare industry and low contract match rates, extra effort is required to increase contract price alignment and support your financial goals.
Price Sync Managed Service facilitates contract price alignment with your trading partners to help increase transaction accuracy. Using a web-based workflow technology, GHX facilitates contract alignment with your vendors for industry leading exception rates, targeted at below 2.5 percent. All contracts are loaded electronically and matched with the hospital item master and price validated for electronic order, delivering improvements to your order-to-invoice match rate that can yield savings up to 3 percent of your total spend. GHX communicates directly with your suppliers on discrepancy resolution and exception information is communicated at the contract level instead of the current time-consuming manual follow up at each order line — freeing time for your team to focus on other value-added activities.
• Provides direction and support for contract data collection
• Uploads local contracts at your GPO and in CCXpert
• Identifies and updates contract prices and aligns to your item master
• Manages and defines workflow processes for coordination of contract price exceptions and communication with trading partners for resolution
• Generates contract match analysis reports and key performance measurements and metrics
Let GHX focus on contract price alignment and resolve discrepancies with suppliers on your behalf for savings on total spend while your team stays focused on other value-added activities.