Supply and Demand Chain Executive April 14, 2021
Online solutions can streamline the procurement, payment and analytics for hundreds to thousands of suppliers.
After a year of grappling with strained systems and putting outdated infrastructure to the test, healthcare organizations face yet another high hurdle due to the global Coronavirus disease (COVID-19) pandemic — reducing costs to meet 2021’s budget demands.
Even with hospital beds over capacity for much of 2020, hospitals lost significant revenue last year as non-surgical and elective procedures were put on hold due to the crisis and patients’ desire to postpone care. The median U.S. hospital operating margin dropped 55.6% without federal relief aid, according to Kaufman Hall. Now the healthcare industry is tasked with making significant budget cuts with fewer resources while continuing to...