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Healthcare

Sirion enables healthcare providers to transform the way they manage services contracts across their lifecycle, driving cost savings, audit readiness and improved supplier performance, leading to improved patient care outcomes

Healthcare

Driving Patient Care Outcomes and Cost Savings through Strategic Services Contracts

Healthcare providers around the world are forced to do more with less given increased supply chain costs, falling reimbursements and increased regulatory demands. This is further complicated by the fact that the overwhelming majority of them (>80%) are not-for-profit organizations, which tend to be government-financed and encumbered by committees that operate through consensus-led decision making processes. In this climate of consolidation, changing public policies and emerging payment models, there’s only one certainty: if strategic suppliers don’t meet their contractual commitments it will directly compromise the hospital’s ability to meet patient-care standards.

In an environment with such heightened scrutiny on strategic supplier performance, deficiencies in the ability of healthcare providers to ensure adherence to contract terms are apparent. In fact, experts indicate that the average contract utilization for healthcare providers is 57%. For reasons ranging from savings opportunities to the risk of non-compliance—and of course enhancing patient care—the situation is ripe for change.

Key Services Outsourced

  • Healthcare (e.g. pathology services, critical care, radiology, radiotherapy)

  • IT

  • Operations outsourcing (e.g. food and beverage, facilities management, mailroom, waste management, security, HR)

  • Patient transportation

  • Revenue cycle management (e.g. claims processing & adjudication, member/physician enrollment, medical billing and coding, transcription, finance & accounting)

“Average contract utilization for healthcare providers is an anemic 57%.”

“With Sirion, companies can enjoy far better visibility into contracts and greater control over fulfillment of performance obligations.”

Ben Tulloch, Managing Director (Australia)

The Challenges

  • Services represent 75% of the total sourcing spend in the industry, making in-life management of contracts even more important
  • While healthcare systems have become adept at ensuring internal compliance, their ability to drive external compliance in supplier engagements has room for improvement
  • Critical gaps exist in contract management: no integrated and enterprise-wide view of supplier engagements; manual tracking of supplier obligations; and self-reporting by suppliers on performance with limited validation capability

Sirion for Healthcare

Sirion offers an AI-driven, integrated platform for healthcare companies to manage contracts, performance, invoices and relationships in buy-side services contracts.

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