4 Strategies to Enhance your Healthcare Procurement Process

With Our Powers Combined: Navigating Procurement Challenges

Our team of healthcare procurement experts unlock numerous benefits for organizations, working alongside your in-house procurement teams to maximize cost savings while maintaining quality and high-level patient care. 

Throughout our 25+ years of experience, we have identified the Top Four Ways to Enhance Your Organization’s Healthcare Procurement Process:

1. Complete Order Guide management: Ensuring your entire organization maximizes contract compliance and streamlines procurement operations is key to maintaining a smooth structure that helps procurement teams stay organized.
2. In-depth analysis and outlier identification: Conducting thorough spend analysis of your purchasing patterns and identifying outliers that may be affecting your communities’ PPD can help drive cost savings and inform your procurement strategy.
3. Constant monitoring of contracted pricing: Monitoring and verifying contracted pricing to ensure accuracy and up-to-date data means that your team will be saving the most time and money in purchasing, menuing, etc.
4. Roadmap for operational efficiency: Creating a roadmap to guide your organization in operating more effectively and efficiently helps you stay on top of organizational shifts.

How to Enhance the Procurement Process Using DSPS

Spoiler alert – Direct Supply® Procurement Services provides help in all of the above areas!

To enhance your healthcare procurement process using DSPS, focus on two crucial factors: 

1. Supplier Contract Management and Compliance
2. Centralization of Procurement Processes

Whether you partner with DSPS or not, it is vital for organizations to ensure compliance with supplier contracts and ordering practices across all facilities. By centralizing procurement operations and leveraging DSPS expertise, you can achieve significant improvements in efficiency, cost-effectiveness and other key performance indicators. 

Cost Savings and Efficiency Improvements in Procurement

At DSPS, we support healthcare organizations in achieving strategic purchasing, cost savings and efficiency improvements in their procurement process. Our in-depth spend analysis reveals categorical outliers, highlighting items, locations and habits that impact your spend. Based on these insights, we provide detailed, actionable procurement recommendations that your organization can implement to drive cost savings. 

By implementing these recommendations, your organization can streamline your purchasing process and eliminate unnecessary expenses. This not only leads to cost savings but also improves overall efficiency. With DSPS’s expertise, your organization can identify categorical outliers that may be driving up costs. These outliers could be specific items that are being over-purchased or certain locations that are consistently spending more on non-optimized products. By addressing these issues, your organization can make better informed decisions and adjust your ordering practices accordingly. Additionally, periodic product category optimizations ensure you are buying the right products at the right time and price.

Strategies and Best Practices for Driving Contract Compliance with DSPS

Compliance is a critical aspect of successful procurement operations with DSPS. It is essential to ensure compliance with contract suppliers. Here are a few ways to support your compliance goals:

1. Collaborate with your DSPS team members to identify and build product Order Guides designed with those strategic supplier relationships in mind. 
2. Ensure the consistent usage of our Capture tool throughout your organization. This tool is designed to collect “Off System” spend information to increase full spend visibility.
3. Establish effective communication between your organization and the DSPS team to maximize the benefits of our collaboration.

The Role of Technology

Technology plays a pivotal role in enhancing the healthcare procurement process, especially when utilizing DSPS. Our proprietary technology tools, powered by artificial intelligence and machine learning, enable us to analyze vast amounts of healthcare procurement data faster than humanly possible. This capability allows us to identify spending trends, outliers and new opportunities that may have previously gone unnoticed and bring them to your team to review. By leveraging our ai driven procurement technology, we can provide you with unparalleled insights and strategies.

Measuring Success and Impact of Procurement Processes

Effective measurement of the success and impact of procurement process enhancements is vital. The DSPS program provides measurable success metrics in the following ways:

1. Quarterly Business Reviews, which highlight the exact savings and cost avoidance achieved through our analysis. These reviews offer tangible evidence of the positive outcomes resulting from the utilization of DSPS.
2. Access to real-time budget tracking in the renowned DSSI platform that allows organizations to see how individual locations are performing in their purchasing cost goals on a weekly or monthly viewing basis.
3. Reporting tools that teams can use to create their own visuals or dig deeper into their procurement data at an organizational or location level.

Collaboration and Relationship Management with Suppliers

We place a strong emphasis on collaboration and relationship management with suppliers in the healthcare procurement ecosystem. We work closely with suppliers across all facets of your procurement process. The DSPS team takes the extra step and actively monitors your pricing and steps in when the price of a specific product doesn’t match the contracted rate in the platform. This client-facing focus ensures that we consistently offer the best purchasing experience while saving time for the supplier and provider. 

DSPS: Leveraging Procurement Cost Savings Across Organizations

Healthcare organizations can greatly enhance their procurement process by leveraging the expertise and resources offered by Direct Supply Procurement Services. By focusing on compliance, centralization, and utilizing cutting-edge technology, organizations can achieve significant cost savings, improved efficiency, and tailored strategies for success. 

Take the first step towards streamlined procurement and improved financial outcomes. Learn more about what sets DSPS apart, and request a personalized strategy for your healthcare organization today. Your procurement transformation starts here!