1 min read

Vendors Save with Business-to-Business Procurement Automation

By Procurement Partners Staff on Fri, Apr 20, 2012 @ 10:00 AM

iStock_000014716574XSmall-resized-600If you’re a vendor providing suppliesfor health care facilities, schools, or hotels, it can be a challenge to keep up with all the various aspects of your business. You have to find new customers and take care of your current ones, all while trying to keep your prices competitive and your costs under control. 

Meanwhile, you’re dealing with thousands of purchase orders, invoices, and other transactions each year. The procurement process can be very complex, especially as your business grows and develops. Business-to-business procurement automation can simplify your distribution process while saving you money.

What exactly do we mean by “automation”? Are we suggesting that you hand over control of the entire process? 

Not at all. Think about it in terms of an automobile. A car has all sorts of automated parts. But cars can’t drive themselves. (At least, not yet!) A car still needs someone to be in control and make the decisions about steering, accelerating and braking.

There’s no one-size-fits-all solution for every vendor, or even for each one of your individual clients. We understand you need a system that is adaptable, flexible, and customizable to meet the needs of your growing business and your various customers. That’s why we've built numerous customizable features into our innovative automated solution. And you can always add or change features quickly and easily.

Procurement Partners is committed to bringing value and savings to our vendor partners. Working together, we can create a positive ongoing commerce experience for you and your customers. Our tools, information, and automation can help promote communication and accuracy between you and your clients while increasing your sales and lowering your costs. 

With Procurement Partners, you are always in the driver’s seat, but we’re there to help keep things running efficiently. Contact Us to learn more.

Topics: Procurement Automation business-to-business procurement procurement automation best practices
2 min read

Including IT in Business Continuity Preparedness Is Essential

By Prime Care Tech Marketing on Fri, Apr 20, 2012 @ 08:15 AM

business continuity and disaster recovery through ITAccording to experts, disaster recovery (DR) is how a business restarts itself following a disruptive incident that is natural, man-made, or a systems failure. On the other hand, business continuity implies a more comprehensive consideration of how your business continues to operate not only following a disaster, but also the departure of a key member of your management team or department head or any other incident or event which could interfere with daily operations.

Recently, we have witnessed the severe impact that weather has had on entire communities, their people, property, and infrastructure. While these tragic events certainly get our attention and cause us to reevaluate, reinforce, and rehearse our existing disaster plans, do we really give due diligence to planning for business continuity (BC)? To most people, BC and DR go together. That being the case, you will be well served to consider particularly the role IT can play to insure that any interference to your business's work flow is as small as possible.

Stepping back and examining the possible consequences of each type of adverse incident is an important step in performing a business impact analysis (BIA). By doing so, you can anticipate and plan specifically for each such event. Handling the consequences of a fire is much different than handling the sudden departure of the corporate IT manager or payroll manager.

First, you need to consider your most valuable asset – people. After a disruptive event, how will your employees communicate, where will they work, and how will they continue to perform their jobs? Who needs to take the leadership role and under what circumstances? What aspects of the workflow are essential and how will they continue?

Second, determine which systems, processes, and business units are essential. Particularly when it comes to IT assets and resources, you should consider not only your internal and contracted resources and assets, but also the businesses which develop and support the critical software applications you use. For example, while IT Asset Management is useful, it may fail to track which software versions your business is using.

Recent developments in technology, such as virtualization, cloud computing or other data center technology-enabled business solutions, social media, or mobile devices, can facilitate business continuity.

This blog cannot begin to cover all aspects of BC/DR, but anticipating, planning for, and rehearsing how you will handle a disruption to your business is well worth the effort, time, and money. Just ask someone who didn’t. Keep in mind that IT plays a major role and should be an essential part of your planning.

What are your doing to insure BC in your business? To learn more about how PCT can help, contact us.

Topics: IT disaster preparedness IT asset management business continuity
1 min read

Save Money by Improving Your Procurement Process

By Procurement Partners Staff on Thu, Apr 05, 2012 @ 09:00 AM

iStock_000019812779XSmall-resized-600With prices rising, it may be time to take a closer look at procurement. For many businesses, the procurement process represents a valuable opportunity to save money and reallocate resources. In a recentBain & Company executive survey, more than half of the respondents said cost pressures constrain their ability to make strategic investments. Considering that procured costs can represent 25 to 60 percent of a company’s total costs, it’s well worth examining how this process could be managed more effectively.

Despite procurement’s significance and cost-saving potential, there is plenty of evidence to suggest that for many companies, this is an area with lots of room for improvement. When Bain & Company surveyed executives about their experience with past procurement management initiatives, 72 percent of the respondents felt that they do better and save substantially more than they have in the past. This belief was expressed just as often by the heads of procurement as it was by CEOs and CFOs.

While most executives realize they could reduce their procurement costs, actually making it happen is no easy task. Without a predefined, systematic plan for reducing costs, most organizations never fully reach the potential savings. But again, it’s not easy to create and implement such a plan. For example, 77 percent of the executives surveyed noted that their companies’ procurement efforts are especially weak when decisions are fragmented across many buyers. 

This study demonstrates the need for better integration of the procurement process. In fact, research indicates that by implementing the right tools and processes in a number of key places, you can cut procurement costs by 10 percent. Procurement Partners offers a wide variety of automation and cost containment processes to help you save that 10 percent, or even more. Contact us to learn more.

Topics: cost containment process cost saving eProcurement procurement process reduce procurement costs real savings
3 min read

Avoiding Unintentional Fraud

By Prime Care Tech Marketing on Fri, Mar 16, 2012 @ 03:49 PM

Avoid Medicare Fraud InvestigationsIgnorance is no excuse. Over the last few months, like me, I’m sure you’ve seen headlines and read articles about the federal crackdown on Medicare and Medicaid fraud. Millions of dollars have been identified as fraudulently paid for services either not rendered or with limited justification. I acknowledge that there are unscrupulous practitioners and providers out there who should be identified, indicted, convicted, and sentenced to the fullest extent the law allows. However, while I don’t have the numbers, I wonder to what extend “fraud” was committed by those who unwittingly engage in poor billing practices, such as miscoding and/or absence of support documentation for procedures provided. The old adage, that if you didn’t document it, it didn’t happen, may put providers and practitioners at risk of investigation and indictment with all the attendant negative results, such as loss of reputation, decline in confidence, and possibly business failure.

If this falls within the reasonable realm of plausible possibility, I have to scratch my head and wonder why. Why place your business and your future at risk, when you don’t have to? Once again, and you have to admit that this blog is consistent when it comes to waving the IT banner, IT can come to the rescue. Imagine the peace of mind you could have while reducing your DSO, assuming you are at risk not for lack of integrity, but credibility, if your organization had a billing and claims management system that would file clean claims each and every time.

Such an automated revenue cycle management system exists, specifically designed for long term care providers. Imagine a system comprised of a comprehensive and configurable user-friendly web portal to manage claims throughout the submission process, with functions for loading, reviewing, editing, and tracking claims online. With this portal, providers can fully leverage enterprise-level security and permissions with user-definable roles to satisfy their specific claims processing practices. As part of a complete health care transaction solution, providers can submit, monitor, edit claims, and review their claims on-line.

Key benefits of the ProClaim Partner’s application:

  • Increased revenue stream and reduced DSO through quick claims turn-around and real-time claims management reporting viewable through a user-defined digital dashboard
  • Smoother claims flow through direct connections with providers, trading partners, and value-added networks
  • Eliminating avoidable payment delays by increasing successful first-pass rates, tracking claims, and automatically checking claim status
  • Reduced transaction fees and paper handling costs by enabling direct connection with providers and payers
  • Decreased operations costs through automated handling of routine questions and documentation requests associated with eligibility, claims status, and referrals
  • Preserving investments in existing systems by offering an off-the-shelf claims management application that easily interfaces with existing adjudication, financial, and membership systems
  • Reduced risk through its robust user audit functionality

Providers would be well rewarded for looking into it. At times like these and under this “gotcha” environment of fraud crackdown, doing billing right certainly has its virtues. But a system is only as good as the workflow that leads to the filing of claims – preadmissions screening and documentation; admissions documentation; clinical documentation; therapy services documentation; proper coding; charges compiled; and claims created, scrubbed, triple checked, filed, and monitored. All are critical components of the workflow and are at risk of vital data and information leakage.

In the next blog, we’ll discuss some of these workflow components which are considered industry best practices.

Question: What solid claims management practices have you observed or implemented?

Topics: DSO automated claims management workflow Medicare fraud Medicaid fraud automated revenue cycle management system cash flow avoidable payment delays increased revenue stream reduced DSO
2 min read

Long Term Care and IT

By Prime Care Tech Marketing on Mon, Mar 05, 2012 @ 04:54 PM

A Major Health Care IT Paradigm Shift

“Best Practices” in the old days – paper pushing.
Historically, health care in general and long term care specifically, has been intensively paper based - forms, spindles, chart tables, racks, and binders. Documentation was (and still is) the name of the game and pushing paper was the only way. Even regulatory enforcement surveys were based on paper compliance with bedside visits to verify the documentation. Paper-based documentation consumed a lot of trees and filled a lot of storage files and storage units.



On the upside, a paper-based system never froze up, crashed, or hung. The staff never had to worry about connectivity, rebooting the computer, unplugging and plugging a cable, or finding a wireless access point and rebooting it. They just needed to make sure they had a pen with the right color.

LTC and IT, EHR, tablet PC“Best Practices” today – Getting past the paper paradigm
Only recently has long term care demonstrated a grudging willingness to adopt IT as the way to communicate and document. Narrow margins, suspect IT promises, and resistance to change have contributed to this lethargy. Further, what technology has done to society it has done many-fold to LTC. Staffers have discovered that the promises of “increased productivity” have in reality resulted in increased demands.

However, the outside pressures of increased competition, a shrinking skilled labor pool, a younger, more computer-savvy cadre of care givers, more restrictive regulations and reimbursement, and opportunities posed by HIEs and ACOs have become the incentives for a more rapid LTC IT adoption. Providers across the country have begun to realize tangible benefits to their operations through IT. For example, with the advent of real-time reporting and Business Intelligence, such as PCT’s primeVIEW digital dashboard, health care executives are able to identify and respond to problems and opportunities quickly. This results in real savings, expanded market penetrations, improved bottom lines, increased efficiencies, and better resident care.

Consider this, a recent LTC provider’s initiative capitalized on the flexibility and accessibility of its company Intranet and focused on assessing and improving weekly weight and skin condition assessments. Recording their assessments electronically yielded a significant reduction in staff documentation time; this means more time face-to-face time working with residents and less time pushing a pen.

What’s the impact that IT can have on the facilities and their residents?
It means an improvement in the quality of life and care for residents. For providers it means, among many benefits, a healthier bottom line, reduced DSO through automated claims management, reduced procurement spend through procurement automation, a stronger competitive edge over those facilities which are IT resistant, and being well situated when working with other providers along the continuum of care.

Questions:
  • How has IT helped your operation?
  • If you have embraced IT, how has it benefitted your operation and the services you deliver?

 

Topics: dashboards long term care IT continuum of care best practices DSO

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