eProcurement enables health plans to have all administrative spending correctly vouchered, fully visible and monitored by plan, product, channel of sale, and spend category.
Mechanicsburg, PA (PRWEB) February 29, 2012
A new article released early this month highlights the benefits of eprocurement for Health Plans. The article, featured in Corporate Wellness Magazine, and written by Dennis Toohey, Director of Health Care Solutions for Puridiom, outlines the challenges facing Health Plans today and how eprocurement tools can benefit these organizations with spend management, cost assignment and tracking, increased spend visibility, and increased accuracy of data.
Mr. Toohey examines the challenges presented to Health Plan organizations faced with Health Care Reform initiatives and requirements. The answer, he believes, lies in controlling and carefully tracking Health Plan spend with a uniform Procure-to-Pay solution. He goes on to explain exactly how a Procure-to-Pay solution can enable cost data accuracy and visibility within an organization.
“eProcurement enables health plans to have all administrative spending correctly vouchered, fully visible and monitored by plan, product, channel of sale, and spend category,” says Mr. Toohey. “In addition best in class streamlined practices for procurement sourcing and administrative execution are engaged.”
Puridiom, a leading procure-to-pay solution provider, has successfully implemented their solution for health plan organizations over the past few years. With a Procure-to-Pay (P2P) solution, a Health Plan is able to encompass all administrative spending, including specialized categories such as marketing and temporary labor, and enable a single enterprise-level requisition, purchase and payment workflow. The P2P solution also enables integration of the purchasing department with accounts payable and accounting, ensuring data accuracy, precise cost assignment and accurate GL postings. Control and visibility of the entire life-cycle of a transaction provides full insight into cash-flow and financial commitments. More information about eProcurement and the benefits to Health Plans is available in a new white paper from Puridiom, “Controlling Health Plan Costs with eProcurement.”
Puridiom also provides Enterprise Cost Control consulting services to help those organizations that may needsome help in assessing and meeting procurement needs.
Puridiom is the most comprehensive Procure-to-Pay solution provider to offer Cloud and Licensed platforms for organizations of all sizes and industries. For over 29 years, Puridiom has streamlined function in the supply chain with innovative technologies, providing dynamic personalized services and extensive domain experience. The easy-to-use software and team strategies enable organizations to gain a competitive position and transform business into a strategic resource savings solution. Solutions include: Enterprise Procure-to-Pay, Puridom Xpress, Strategic Sourcing, Catalog Content Management, Supplier Enablement, Invoice Automation, AP Outsourcing, and Travel Management. Enterprise Cost Control consulting services are also provided.
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