Optimization is Key – How Healthy is Your Hospital Supply Chain?

In the rush to drive down healthcare costs, hospital supply chain optimization can help.  By doing so, hospitals are saving millions of dollars and blazing a new trail in healthcare management.  Through our PeopleSoft operational support, Belmero Inc. identifies ways to optimize hospital supply chains – just one way we typically achieve a 25% reduction in support costs and increase overall productivity for our clients. This May 4th through …

Creating an Effective Hospital Supply Chain

In the provision of quality service, a hospital needs a supply chain that merges logistic and purchasing operations of clinical elements. Attaining this objective is not always easy. A well-integrated hospital supply chain incorporates all relevant parties in and around the hospital into its process, including clinicians, finance, clinical outcomes, executive leaders, physicians and others, in other to achieve optimal success. When creating …

The Future of Hospital Supply Chain Management in 2015

According to reports from The Health Industry Distributor Thought Leaders Initiative, healthcare providers are expecting cuts in reimbursements during 2015 that will reduce operating margins by up to 30%. This can significantly impact profitability and their ability to sustain and grow in the future. With this challenge, hospital supply chain management will have to factor in new ways in which they can continue to provide quality products for patient care and come up with …

Oracle News and Product Updates: Improving Business Processes and Profits

In the world of multinational computer technology corporations, Oracle is a well recognized force.  Oracle was founded in 1977 and is headquartered in Redwood City, California, in the United States.  The company specializes in developing and marketing computer hardware systems and enterprise software products, such as PeopleSoft. They also build Enterprise Resource Planning (ERP) software, Customer Relationship Management (CRM) software, and Supply Chain Management …

Hospital Supply Chain – What to Look For When Seeking Assistance

The rising cost of healthcare is on everyone’s minds. Citizens worry about how they’re going to pay their medical bills while hospitals and medical facilities explore different ways they can further reduce expenses. Today, hospital managers have been forced to make some huge changes to the methods they use to keep costs low and while also going to some impressive …

Five Challenges in Supply Chain Management

Supply Chain Management is the most critical area of concern for hospitals. It is critical to the health and safety of patients and staff to have the right tools available to the right people at the right time. A recent survey published by Healthcare Finance News reported on the top five challenges of managing hospital supply chains: Cost-savings goals: The first area …

Supply Chain Automation Saves Time and Money

The latest headlines in Healthcare IT are all about saving money by boosting the supply chain. Published just weeks ago, this article highlights the advantages of implementing an automated hospital supply chain for larger hospitals. Of all the “extraneous” costs associated with running a hospital, managing suppliers and spending hours negotiating with vendors should not be one of those. Time is …

Hospital Financial Management Has Never Been So Important

A report released by Moody’s Investor Services early in the fall of 2014 painted an alarming picture of the financial health of nonprofit hospitals. They have posted their second year of revenue declines and have experienced record-breaking low rates of growth of revenue. Median revenue growth has historically been around 7%; in 2014, it has dropped to 3.9%. Reasons for the low …

Cost Savings Opportunities in Hospital Supply Chain Management

The most successful Hospital Administrators and Operations Managers are constantly looking for cost savings opportunities when it comes to their Supply Chain Management. As this article in Hospital and Health Networks points out, “The economic downturn has given the supply chain renewed prominence, boosting it in many hospitals from the basement to the executive suite.” Hospitals and other organizations are realizing …

Four Reasons to Integrate Hospital Supplier Management into a Full ERP System

As costs for managing health care facilities continue to escalate, it is more compelling than ever to include Hospital Supplier Management in a fully Integrated Hospital ERP System. There are Four Compelling Reasons why implementing a fully integrated ERP System including Hospital Supplier Management is the right decision for your facility today: Eliminate up to 25% of the support costs associated with maintaining multiple stand alone databases. For …