Finding hidden value in the data Mat Oram CEO and Co-founder of AdviseInc outlines how to improve procurement in hospital systems through the use of data
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rocurement can sometimes be a painful experience for healthcare operators. Not knowing if you’re paying too much, or if you really need what you’re buying, or if it’s the right product for the job can make it tricky to navigate. However, this isn’t to say all hope is lost. In the age of digital and technology, data can be
connected unlike before, enabling operators to find value in areas that they did not know existed. The analysis of data, and use of data, especially at scale within procurement in healthcare, has been enormously beneficial, but the big question is, where do you begin? AdviseInc has been helping healthcare organisations save money throughout the procurement process for years. Utilising our
Price Benchmarking & Spend Analytics tools, AdviseInc has identified millions of pounds worth of variation in more than 200 NHS trusts across the UK, and, as such, has saved these organisations vast amounts of money simply through the usage of procurement data analysis. It doesn’t matter if an operator’s data is poor, or their systems are not connected, they can still benefit from our analysis. Getting the best value To get the best value, you must first know what you’re buying, your customer, have some form of leverage through volume, innovation, or relationship - and you have to really understand the market for the product that you are sourcing. However, for smaller
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