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What are the Major Challenges Healthcare Organizations Face in Procurement? SpendEdge’s Latest Blog Explains

February 25, 2020 GMT

LONDON--(BUSINESS WIRE)--Feb 25, 2020--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the challenges in healthcare procurement.

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Health care services have improved significantly in the last few years. Researchers today have solutions for diseases that could not be treated earlier. Such improvements could be contributed to growth in the healthcare procurement process involving segments like clinical research and medical equipment procurement. However, there are certain challenges that suppliers face in healthcare procurement.

At SpendEdge, we understand that the hardships faced by suppliers and healthcare organizations in procurement. Therefore, we have highlighted the key challenges in healthcare procurement.

Challenges in Healthcare Procurement

Limited control in price

Many times, healthcare organizations lack the procurement data required to develop actionable steps to boost efficiency. This results in a lot of wasteful spending. Companies must implement health IT systems that can manage procurement costs under value-based reimbursement models and compare healthcare costs with the outcomes of the patient.

Want to identify the best value-based reimbursement model for your organization? Request free platform access to leverage our smart procurement solutions now and 1000+ procurement reports!

Healthcare procurement involves many hidden costs

The cost of the product forms the core of healthcare procurement. But healthcare organizations must be aware of invisible costs such as inventory holding, and distribution expenses associated with the procurement. This will not only help companies to yield savings but will also enhance clinician and patient satisfaction. To know how you can achieve significant cost savings and stay ahead of the curve, get in touch with our experts now!

Medical equipment procurement

Usually, medical equipment is produced in bulk with standard specifications. Any customization in specification can increase the procurement cost of products. Also, it may result in errors as companies face predicaments to meet end-user demands within the stipulated time.

To know more about challenges in healthcare procurement, read the complete article here!

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About SpendEdge:

SpendEdgeshares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Want to gain detailed insights? https://www.spendedge.com/get-more-info

View source version on businesswire.com:https://www.businesswire.com/news/home/20200225005694/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: MANAGED CARE GENERAL HEALTH HEALTH OTHER HEALTH

SOURCE: SpendEdge

Copyright Business Wire 2020.

PUB: 02/25/2020 11:23 AM/DISC: 02/25/2020 11:23 AM

http://www.businesswire.com/news/home/20200225005694/en