Building a strong data foundation for the modern digital supply chain
History of the Data Quality Recipe
A general conclusion was made some time ago: Healthcare supply chains need high quality and clean data to operate efficiently. As the front-end entry point of data, supply chain plays a primary role in ensuring the quality of data, the accuracy of data, and the interoperability of data between downstream financial and clinical systems. But data management is still a major pain point for many health systems. Without a comprehensive strategy to address data challenges on the front end and the back end, health systems are suffering from gaps between reality and expected outcomes from their data initiatives.
Quality data is the foundation of healthcare supply chain’s digital transformation and requires a multifaceted approach involving expertise (technical and business), control (data governance), and modern technology frameworks to help capture, manage, and share data within healthcare’s complex supply chain ecosystem.
Prodigo Solutions’ Data Insights helps transform supply chains by providing upfront analysis and decision support to identify operational opportunities, along with the back end data insights for initiating corrective and preventive actions.
- Drive ROI. Empower decisions that support operational performance objectives.
- Direct Smarter Sourcing. Identify and direct more spend to preferred contract sources.
- Make Data Driven Decisions. Inform, track, and correct.
Mergers + Acquisitions Opportunity Assessments, Data Syndication, Item Master Enrichment, and a Path to Value are four key areas where Prodigo offers insights and transparency into a supply chain’s past and future.
1. Merger + Acquisition Opportunity Assessments
Prodigo’s data analytics inform health systems involved in merger and acquisition activities by identifying product sourcing, pricing, and contract standardization/consolidation opportunities. A review of annual supply chain spend along with the Contract portfolio, the ERP Item Master, and Vendor Master are used to understand the current procurement practices of each organization and to identify potential savings opportunities that could be achieved through the consolidation of supply chain activities across all operating units.
2. Path to Value
Prodigo has developed a comprehensive Path to Value Assessment to provide savings insights based on analysis of historical purchase activity of the health system. Prodigo’s goal is to identify measurable ROI; reducing costs across the supply chain by improving standardization, utilization, and compliance. Prodigo provides you a roadmap with directions to increase contract usage, improve participation in contracted price incentives, and reduce special requests in order to achieve more of the negotiated contract savings.
3. (Virtual) Item Master Enrichment
As one of healthcare’s largest data aggregators, Prodigo is in the unique position to aggregate data from manufacturers, GS1 GDSN, and third party content sources; providing health systems a single gateway to improve data quality. Prodigo enhances the value and accuracy of our customers’ Item Master by ensuring full attribution of data sets for accurate identification of items (traceability), to optimization of supply chain operations (transparency), and improvements to patient care (risk mitigation). Complete and accurate item data lowers supply chain costs; resulting in better inventory planning, accurate product identification (traceability), and improved data integrity (transcription).
4. Data Insights
Prodigo gives real-time interpretation and exception handling across the entire supply chain spend. You no longer have to wait to see what happened, you’ll be informed with proactive alerts defining specific actionable metrics that help drive supply chain performance. With Prodigo’s self-service analytics you’ll have the answers you need to take the next step toward transformation.
It comes as no surprise that the volume and velocity of data in healthcare presents many challenges. As a result, health systems large and small are struggling to find the necessary resources needed to guide them through their digital transformation and data quality improvement journeys. Health systems should look for proven solution partners with the technology and experience to put their data recipes together. The financial landscape that health systems are facing shows a clear need for cost optimization and control, but it is a bumpy road to getting there. The right partner will help navigate you through the obstacles to achieving real transformation.
Contact the Prodigo Solutions team to request a data assessment and to learn more about how Prodigo is supporting modern healthcare supply chains and digital transformation by connecting the supply chain ecosystem with accurate, quality data.
Mergers and Acquisitions: Driving ROI through Proactive Insights
The Benefits of Leveraging Data Standards in Healthcare - Bon Secours Mercy Health
Data Insights: Supply Chain Analytics for Healthcare
Data is the Foundation of Digital Supply Chain Transformation