Success story of LARION – “A smart healthcare supply chain data management solution”

A smarter healthcare supply chain data management solution. This project is a supply chain solution developed by LARION for Customer G. Great savings up to 87% for a client after 12 months.

About customer G

As the largest community of healthcare supply chain trading partners in the United States, Customer G connects supply chain, finance and clinical professionals with their suppliers and partners. The 4,000+ provider organizations and 400+ manufacturers and distributors in this community are working together to drive billions of dollars out of the cost of the healthcare supply chain in the US.

 Success story of LARION – “A smart healthcare supply chain data management solution”

Challenges

  • Each year, it is estimated that 10 million changes are made to medical-surgical products on the market in the U.S. Therefore, the resulting item master errors have far-reaching impacts on operational and financial performance, from over payments caused by contract price discrepancies to lost revenue from missed reimbursements.
  • Effectively managing supply chain processes is no longer as simple as data cleansing and item master maintenance. Today’s dynamic healthcare environment/wastewater requires excellent content management throughout the entire supplier-to-patient process. Providers need data that supports, enhances and connects all hospital systems with minimum maintenance and redundancy.

The solution

  • Customer G’s Content Management Solution drastically reduces manual item master maintenance by synchronizing, cleansing and enriching an organization’s item master data with product and pricing information derived directly from medical-surgical manufacturers and GPO (group purchasing organizations). This system is a cloud-based VIM (virtual item master). It continuously monitors an organization’s item master for changes and updates, and then corrects product data inaccuracies, removing duplicates and filling in missing information to help reduce transaction errors.
  • Furthermore, by attaching Healthcare Common Procedure Coding System (HCPCS) codes to product data, this system can help you provide reimbursement details that can be used to capture additional revenue.
  • Lastly, this platform is a complement to other Information Systems of a healthcare institution, such as ERP, MMIS, EMR, etc. to utilize global standards published to the Global Data Synchronization Network (GDSN).

The key benefits of this platform are as follows:

  • Keep product information up-to-date
  • Always let clients know what they buy and from whom
  • Lower supply costs through higher contract utilization
  • Increase potential additional revenue through reimbursement
  • Reduce transaction errors
  • Align the supply chain activities with financial and clinical goals
  • Link item masters to GDSN attributes, including the Global Trade Item Number (GTIN)

Results

Within the first 12 months of using Customer G’s solution, the Medical University of South Carolina (MUSC) avoided US$1 million in costs stemming from inaccurate data and inefficient processes and secured US$370,000 in savings related to contract and tier price compliance.

At Saint Francis Hospital and Medical Center (SFHMC), the supply chain team reduced non-file spending by 87 percent (from US$33M to US$4.3M) within 12 months of implementing this solution of Customer G.

Quotes: “LARION is a good company to do business with. The management is strong and the processes are well thought out.” Senior Manager, Master Data Management, of Customer G

Contact:

  • Address:3rd Floor, QTSC Building 1, Street 14, Quang Trung Software City, Tan Chanh Hiep Ward, District 12, HCM City, Vietnam
  • Phone:(+84.28) 37 155 742
  • Email: info@larion.com 
  • Website: https://larion.com 
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