Centralized Vendor Management

Overview

Is duplicating your supplier management efforts across multiple vendors the best use of your administrative resources? Would you prefer to re-direct some supply chain management energy toward higher-impact activities?

Consider taking advantage of Advantien's Centralized Vendor Management service. Beyond the price negotiations and identification/vetting of potential new vendors, Advantien can manage all implant suppliers to your facility, effectively becoming a single-point supplier handling most or all of the implant manufacturers supplying your facility.

We'll manage the purchase orders and payments for your implant vendors. Implant sales orders and invoices go through Advantien, allowing us to monitor and review each order, checking for pricing errors and other anomalies. We have found that as many as 10% of vendor sales orders have a discrepancy that needs to be addressed before purchase orders should be issued or payment is made.

Benefits

What you can expect when you partner with Advantien for Centralized Vendor Purchasing:

• Invoices specific to each surgery are provided 24 hours after surgery.  This allows your billing staff to submit for reimbursement quickly, shortening the revenue cycle (accounts receivable) by an average of two weeks.

• Eliminate discrepancies between implant invoices and implant logs to ensure documentation provided to payors is accurate.

• Single point of contact between your materials manager and implant vendors, in terms of charge sheets, POs and AR/AP.  Your existing reps still provide the same day-to-day support and relationships with your surgeons and staff.  Advantien improves the billing paperwork efficiencies, to both your benefit and the reps’/vendors’.

• Charge sheets and invoices come from a single source (Advantien), on consistent forms, and can be sent in daily or weekly batches to streamline your PO and payment processes.

• Rely on Advantien to track back orders, monitor deliveries, facilitate (or even manage) restocking orders, and more.

To learn what our Center Vendor Purchasing service can do for your facility, contact us.