Data Analytics Add Value to Healthcare Supply Chain Management

Data Analytics Add Value to Healthcare Supply Chain Management

12 March 2022

According to Jacqueline LaPointe on August 17, 2018 in “Data Analytics Add Value to Healthcare Supply Chain Management”. Data analytics are offering innovative healthcare systems more visibility into supply chain management issues, allowing for reduced costs and greater efficiencies.

Hospitals spend nearly one-third of their overall operating expenses on healthcare supply chain management. Buying supplies, equipment, and the latest innovations to support high-value care delivery is expensive, especially as hospitals and health systems expand their provider networks.

Data analytics tools have the potential to give supply chain leaders insights into how to reduce their costs and automate their processes.

However the author notes “organisations aren’t yet using them”

 Adding a layer of quality to supply chain data

Supply chain leaders are also exploring the addition of quality data to transform the supply chain from a cost center to a value-adding resource.

“We’re trying drive towards value and not just cost,” Charlson emphasized. “What we would like to do in the next phase is start layering in more quality data.”

Artificial intelligence solutions may be able to help health systems achieve the optimal balance between up-front price and long-term outcomes, McFarland suggested.