Navigation Links
GHX Collaboration Portal Validates Contract Pricing in Real Time; First to be Used by All Stakeholders of the Healthcare Supply Chain
Date:3/18/2010

LOUISVILLE, Colo., March 18 /PRNewswire/ -- Ten-thousand healthcare provider locations, a growing number of the largest national distributors, and medical-surgical suppliers and group purchasing organizations (GPOs) are using the GHX collaboration portal to drive visibility and synchronization throughout the contracting process. Historically, agreed-upon contract prices have taken 45-60 days to be loaded into the respective systems of all parties to a contract. With this portal, a contract can be integrated with a distributor on the same day it is executed and the new prices loaded by all stakeholders in less than a week. This helps eliminate inaccurate purchase orders, disputed invoices and rebate/chargeback discrepancies.

All participants to the contracting process work together through this collaboration portal to automate what has historically been a highly manual process, helping to ensure rapid price synchronization and invoice accuracy. It is healthcare's only collaborative portal for price and contract management that enables all parties to a contract to agree on key terms and conditions. This results in an electronic Letter of Commitment (eLOC) that provides synchronization to authorized distributors and real-time visibility for all participants.

The GHX collaboration portal allows information to be shared in a secure on-line environment, enabling a virtual "handshake" among all parties. Authorized parties are presented with real-time access to pricing and eligibility information, and benefit from the creation of a full audit trail.

HealthTrust Purchasing Group has deployed the solution with its supplier and provider members, saving time and money and increasing efficiencies. Using this platform, healthcare provider HCA was able to reduce its price discrepancy rate with one of its manufacturers from 8.6 percent in the first quarter of 2008 to less than 1 percent in the third quarter of 2009.  

Melissa Maus, director of Pricing Services at Cardinal Health, said that as a value-added supply chain partner, Cardinal Health supports industry-wide collaboration.

"Cardinal Health is dedicated to utilizing technology to simplify the customer experience," Maus said, "and this platform enables us to support that larger effort while helping our customers reduce their administrative burden and focus on patient care."

"GHX is in a unique position to help alleviate many of the problems caused by the complexity of healthcare contracting," said Bruce Johnson, GHX president and chief executive officer. "As a neutral partner with an integrated network of thousands of participants on both the buy and sell side, GHX has created the first four-way collaborative solution to synchronize pricing data for the U.S. healthcare industry."

Effective contract management requires that all parties share, in a timely manner, accurate information related to factors such as tier pricing and commitments, customer eligibility and price activation dates. When information is inconsistent or delayed, errors occur that create rework and higher labor costs. These errors also cause financial issues for the various parties such as inaccurate pricing, rebates and chargebacks. As a result, unnecessary cost can be incurred and resources diverted from the primary focus of the healthcare supply chain: the delivery and use of products to optimize patient care.

About GHX

As the business hub for healthcare, Global Healthcare Exchange, LLC (GHX) enables healthcare providers and suppliers in North America and Europe to reduce costs and improve margins by automating processes, reducing operating expenses and increasing knowledge-based decision making.  Products and services include trading partner connectivity, order and contract management and validation, data synchronization, sales force automation and business intelligence. Equity owners of GHX are Abbott Exchange, Inc.; AmerisourceBergen Corp.; Baxter Healthcare Corp.; B. Braun Medical Inc.; BD; Boston Scientific Corp.; Cardinal Health, Inc.; Covidien; C.R. Bard, Inc.; Thermo Fisher Scientific Inc.; GE Healthcare; HCA; Johnson & Johnson Health Care Systems Inc.; McKesson Corp.; Medtronic USA, Inc.; Owens & Minor; Premier, Inc.; Siemens; University HealthSystem Consortium; and VHA Inc.  For more information, visit www.ghx.com.

SOURCE GHX

Back to top

RELATED LINKS
http://www.ghx.com

'/>"/>

SOURCE GHX
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Rauland-Borg and Visonic Technologies Collaboration Brings Enhanced RTLS Functionality to the Responder 5(R) Nurse Call System
2. WuXi PharmaTech Enters into Collaboration with J&JPRD, a division of Janssen Pharmaceutica for Preclinical Services and Training
3. Novavax Terminates Negotiations with ROVI Pharmaceuticals for Influenza Vaccine Collaboration
4. Abbott and Pierre Fabre SA Announce Collaboration to Research and Develop Novel Treatments for Cancer
5. LOREAL and Hurel Corporation Announce R&D Collaboration to Develop a Non-Animal Alternative, Microfluidic Biochip
6. Lilly and Incyte Announce Collaboration for Development and Commercialization of Oral Anti-Inflammatory and Autoimmune Therapies
7. Galenea and Otsuka Announce Second Extension to Schizophrenia Research Collaboration
8. Codexis Expands Collaboration with Teva
9. Sanofi-aventis and Regeneron Expand Strategic Antibody Collaboration
10. Bend Research and Vertex Pharmaceuticals Enter New Scientific Collaboration
11. Neuronascent Announces Collaboration with ChemRar for Characterization of Developmental Pathway Inhibitors Using Neuronascents Neurogenesis Platform
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... , March 27, 2017 FinancialBuzz.com News Commentary  ... According to a new report ... North America , grew 34 percent to $6.7 billion and can ... of (CAGR) over the next five years, from $6.7 billion in 2016, ... Americans that will be able to purchase cannabis without a doctor,s recommendation. ...
(Date:3/27/2017)... March 27, 2017   Pulmatrix, Inc . (NASDAQ: PULM), ... address serious pulmonary diseases, today announced that it has added ... fibrosis and asthma to its Scientific Advisory Board . ... Richard B. Moss , MD, former chief of the ... Cystic Fibrosis Center at Stanford University, and ...
(Date:3/27/2017)... March 27, 2017 The global ... USD 16.0 billion by 2025, according to a new ... of chronic diseases is anticipated to be responsible for ... thereby widens the scope for growth during the forecast ... population, which is highly susceptible to chronic diseases, is ...
Breaking Medicine Technology:
(Date:3/27/2017)... (PRWEB) , ... March 27, 2017 , ... ... business simulation -centric training, today announced the launch of a new research study, ... having the skills needed to execute that strategy, and the actual success of ...
(Date:3/27/2017)... Georgia (PRWEB) , ... March 27, 2017 , ... ... to announce that for a second year in a row; they are the ... healthcare designers in the industry voted on the award at Design Connections 2017. ...
(Date:3/27/2017)... ... ... still in shock after receiving a $2,500 Academic Award from California Casualty . “This ... She thinks the coming week is going to be a very joyful for her classroom. ... students.” , The award will allow the 4th grade teacher at Tumwater Hill Elementary School ...
(Date:3/27/2017)... ... March 27, 2017 , ... The Anaheim Hills office ... First National Capital has added 10 new sales professionals over the past 6 months ... by 15 additional new hires over the course of 2017. , “This new ...
(Date:3/27/2017)... ... March 27, 2017 , ... ... announce the launch of a months-long rebranding effort. This includes the introduction of ... focus group discussions and market research, we learned that a simple, proactive approach ...
Breaking Medicine News(10 mins):