From Supply Chain Strategies Solutions Magazine (AHRS) A typical hospital can save $11M or 17.7% per year by optimizing supply chain management (SCM). With data so compelling and the cost of inaction so high, it’s puzzling why our recent survey found that only 19% of hospitals have adopted specialized SCM solutions.”
From SpendMatters Artificial intelligence has the potential to transform the healthcare industry in monumental ways. Far from having computers make decisions about diagnosis or treatment options, however, many advancements on the horizon deal with the more mundane aspects of managing healthcare facilities and professionals that impact one of the biggest challenges in modern medicine — cost control.
By Kishore Bala, Syft CTO First came the promises and hype about artificial intelligence (AI) in healthcare. Then came its practical application in select areas such as imaging and population health. Now, machine learning (ML), a type of AI in which algorithms are continually refined as additional data makes them more predictive, is taking hold in supply chain management.
By Kishore Bala, Syft CTO Data is everywhere, and in healthcare, it comes from a huge number of sources – EMRs, ERP systems, manufacturers, distributors, and more. Turning this disparate data into useful information to optimize the delivery of healthcare services is the end goal.
From HIT Infrastructure Clinicians spend more than twice the time they want to on healthcare supply chain tasks, according to a survey of 306 clinicians and hospital supply chain decision makers by Cardinal Health. Twenty percent of clinicians said that supply chain tasks are “stressing them out.”
From Healthcare Dive Another survey conducted by Sage Growth Partners for supply chain management vendor Syft found data analytics was key to supply chain improvement, with the highest-performing hospitals leveraging actionable data to tie costs to patient outcomes.
by Todd Plesko, Syft CEO Hospitals can’t afford to overlook cost-savings opportunities, yet many are failing to make supply chain management improvements that could save them millions. That’s according to a recent survey of 100 healthcare executives and supply chain leaders by Sage Growth Partners on behalf of Syft.
From PYMNTS Across all manner of verticals, efficient supply chains can boost margins, but in order to capture those efficiencies, supply chain management processes need a technological overhaul.
From PYMNTS As hospital executives have said they understand the importance of strategic supply chain management, a new report from Syft, conducted by Sage Growth Partners, revealed that C-Suite leaders and SCM professionals at hospitals aren't always able to execute on their visions for their supply chains.
From Digital Commerce 360 Amid increasing supply chain costs, a survey of 100 hospitals by Syft Corp. finds nearly half of them still rely on manual and spreadsheet supply chain processes that miss out on the cost-efficient benefits of digital operations.
From Fierce Healthcare Hospital executives say that better supply chain management can increase margins by more than 1% and the return on investment for supply chain analytics is clear, according to a new survey.
From Spend Matters Perhaps not surprisingly, a new survey reveals that almost half of hospitals are still using manual processes and tools such as spreadsheets to manage their supply chains.
From SDC Supply & Demand Chain Executive Efficient supply chains have the ability to boost margins and improve bottom lines. However, a new report by Syft found that nearly half of hospital decision makers are still manually processing data instead of using more sophisticated analytics tools.
From HIT Infrastructure Close to half of hospitals use manual processes like spreadsheets to manage supply chain data, according to a survey of 100 hospital leaders. Thirty-seven percent of respondents said they use Excel or other Microsoft tools to track margins per case for operating room (OR) procedures, according to the poll conducted by Sage Growth Partners on behalf of supply chain management vendor Syft.
From Healthcare Finance Ask a hospital leader if supply chain optimization improves margins, and you're likely to get "yes" as an an answer. In fact, according to a new survey from Sage Growth Partners, almost all of them -- 98 percent -- say improving the revenue cycle can lead to improved finances.
From Healthcare IT News Despite understanding the big ROI that can come from supply chain analytics, too many health systems aren't efficiently or effectively making use of their operational insights, a new study shows.
From RevCycle Intelligence Almost all hospital leaders in a new survey conducted by Sage Growth Partners (98 percent) said supply chain optimization can improve hospital margins. About 52 percent report better management could increase margins between one and three percent and 35 percent believe margins could increase over three percent.
From Beckers Hospital Review Hospital leaders see improving supply chain management as a way to counter rapidly declining margins, a new survey conducted by Sage Growth Partners suggests. For the survey, Sage Growth Partners, asked 100 healthcare C-suite and supply chain leaders about their health system's supply chain initiatives.
From Healthcare Dive Nearly all of the 100 healthcare C-suite and supply chain leaders said SCM is a medium (33%) or high (65%) operational investment priority, but only 13% claim it as their highest priority, according to the survey conducted by Sage Growth Partners for SCM vendor Syft.
From HealthLeaders A survey by Sage Growth Partners commissioned from Syft found that optimizing the supply chain could bolster the bottom line for healthcare organizations.
Todd Plesko, Syft CEO Interview The Supply Chain Matters blog highlights an interview with CEO of Management Health Solutions, now rebranded as Syft, and the particular supply chain management of hospital supply and patient demand networks.
Todd Plesko, Syft CEO Interview Supply chain management is essential for any company, but in the healthcare field, it can literally mean the difference between life and death. Having the necessary supplies ready to go is critical for healthcare providers to do their jobs.