PricE Alignment is an Industry CHALLENGE That Needs an Industry Solution
Solving healthcare price alignment issues is very complex.
Every supply chain relationship introduces some level of uniqueness. Add to that, the complexity of healthcare contracting.
The result? Lack of automation for advanced transactions due to the thousands of non- standard business processes, definitions and data formats.
annually to price exceptions
Advance ship notice (856)
Purchase order acknowledgement (855)
Leaving advanced transaction sets required for contract price alignment as manual processes generates significant work and costs for all parties involved.
As an industry, we’ve made great progress automating basic transaction documents:
Purchase order (850)
Maintaining a separate connection to every trading partner is cumbersome and costly.
The industry impact of manual processing is pervasive.
The real pressure to change is coming from your competition.
HIDA (Health Industry Distributors Association) has already done the heavy lifting to establish pricing alignment standards in healthcare.
100% of communications and transactions
Any process that can’t be automated
Processes and identifiers— GS1 and electronic data interchange formats
Deadlines for contract negotiations and mutually agreed timing for contract change notices
What can you expect from implementing automation for advanced transactions?
This supplier saw a 75% decline in the monetary value of rebate discrepancies.
The GHX solution to automate advanced transactions—Single Channel Services:
Excessive labor and operations costs
Lack of visibility and reporting
Losses from overpayment on chargeback requests
Losses from inaccurate GPO admin fee reporting
Penalties for non-compliance
Your customers are already asking for automation requirements, or they are seeking out new trading partners that will provide the least complicated, most cost-effective way of doing business. Will that be you or your competition?
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Price Alignment Crisis
Sent last year's price catalog by mistake
Charged wrong price; never received price catalog
Rebate compensation never received; can only handle csv files
Never received contract terms
Why is it important?
$1.3B lost annually to price exceptions
View HIDA Recommendations