UCLH Case Study – How the Trust Could Save £20M Over 5 YearsDOWNLOAD CASE STUDY
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.
Healthcare (e.g. pathology services, critical care, radiology, radiotherapy)
Operations outsourcing (e.g. food and beverage, facilities management, mailroom, waste management, security, HR)
Revenue cycle management (e.g. claims processing & adjudication, member/physician enrollment, medical billing and coding, transcription, finance & accounting)
“We chose Sirion due to its advanced capabilities for managing complex services contracts post-award.”
“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.”
Sirion offers an AI-driven, integrated platform for healthcare companies to manage contracts, performance, invoices and relationships in buy-side services contracts.