Having enriched data in your item master while ordering or resupplying products provides many benefits – not only for health systems planning inventory and searching for the right products at accurate prices, but also for care receivers.
Enriched content lowers supply chain costs, resulting in the capacity for better inventory planning, accurate product identification, and improved data integrity. This ensures that health systems can find the right product, from the right vendor, at the right price.
But enriched content can also greatly improve care receiver outcomes by controlling the item consumption at the point of care, supporting clinical documentation, and enhancing supply chain responsiveness to adverse events such as recalls or product substitutions.
Being able to obtain the right products often depends on the efficacy of a health system’s item master. Errors resulting from bad data can be costly. In fact, a 2018 Vizient study found that about 30% of the average health system item masters contain bad data.
A CFO outlook that same year by Kaufman Hall found that 56% of CFOs and executives said their organizations lack access to clean, consistent, and trusted data, while 90% believe their hospitals should be doing more to leverage financial and operational data to inform strategic decisions.
A health system’s item master needs to contain the essential information to make sure that those right items are being purchased from the right vendors, in the right quantities, at the best prices.
Consolidate, Then Enrich
Prodigo Solutions strives to understand the existing procurement practices of each of its clients to identify potential savings that could be achieved through item master consolidation.
Prodigo evaluates managed and purchased items to assess the best vendors and pricing. Prodigo will identify different item types – for example, managed, special requests, not purchased, or duplicated – to identify areas of standardization. Additionally, Prodigo provides price standardization analysis across operating units to identify price variations with potential savings opportunities. This service includes staging customer data in Prodigo’s data warehouse, analyzing data for completeness and accuracy, identifying matches and nonmatches between item masters, and matching data by assigning normalized data lookups.
Item master enrichment follows this analysis.
Prodigo’s Item Master Enrichment enhances the completeness and accuracy of the customer’s item master file to ensure full attribution of data sets for accurate identification of items to optimize supply chain operations and improve patient care.
As one of healthcare’s largest data aggregators, Prodigo Solutions is in the unique position to aggregate data from manufacturers, GS1 GDSN, and third-party content sources, providing health systems with a single gateway to improve data quality.
Prodigo integrates content with the source of truth while giving users control to review and approve data as it enters a user’s supply chain. Prodigo provides visibility into a user’s full contract portfolio as well as gives control over user formularies to ensure that the right item is being purchased. Prodigo connects a user’s ERP item master to enriched data attributes and keeps pricing updated, thereby helping users to direct requesters to the preferred item, source, and price.
Prodigo’s global catalog is a collaboration between leading healthcare systems and manufacturers to build a marketplace of content. It is a managed repository of item attributes that are important to the supply chain and clinical practitioners.
Prodigo manages data connections to more than 1,700 healthcare manufacturers through automated, direct feeds and the GS1 GDSN. The catalog contains data attributes on more than 7 million common clinical items being used in healthcare today.
Enriched data attributes in Prodigo’s global item master include such GS1 identified attributes as device identifier (GTIN), product name, long or STD short description, GMDN code, GMDN name, GMDN description, UNSPSC code or description, HCPCS/C-Code, device type, product classification, sterilization indicator, latex indicator, tissue indicator, MRI compatible indicator, prosthetic indicator, implant indicator, packaging string, or image URL.
Enriched data benefits both care providers and care receivers and ensures that the right item is purchased from the right vendor at the right cost. Prodigo’s enrichment services increase the value and accuracy of its clients’ item masters, which ultimately enhance supply chain operations and improve patient care.
4 Ingredients for Achieving Clean, Quality Data
Mergers and Acquisitions: Driving ROI through Proactive Insights
Data Insights: Supply Chain Analytics for Healthcare