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Oracle Modern Best Practice for Healthcare Payer—Insight to Smart Sourcing

Modern Best Practice for Healthcare Payer—Insight to Smart Sourcing
Negotiate the Best Value from Suppliers

Insight to Smart Sourcing

Healthcare payers have very slim margins. Oracle Modern Best Practice for Healthcare Payer enables you to achieve the best contract value while decreasing procurement workload. Leverage mobile, social, analytics, and the cloud to streamline the sourcing process and simplify contract creation. Use secure social collaboration to share information on everything from developing the RFx to awarding the contract. Improve decision-making by giving stakeholders anytime, anywhere access to real-time analysis from their mobile devices.


Identify Opportunities
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Identify Opportunity

Focus on high-impact opportunities for savings by analyzing supplier performance and specific spending patterns on expenses, such as specialty drugs, new therapies, and physician versus hospital payments.


Initiate Sourcing Event
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Initiate Sourcing Event

Create policy-compliant online negotiation through step-by-step guidance and templates.


Develop Specifications
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Develop Specifications

Align specifications with business needs by collaborating with experts and stakeholders. Determine the most likely suppliers per location, division, department, or enterprise.


Manage Negotiations
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Manage Negotiations

Publish requirements or requests for proposals per location, division, department, or enterprise. Begin participation. Suppliers submit responses using online tools and collaboration.


Monitor Response
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Monitor Response

Review and compare submissions. Extend or pause proposal gathering based on responses and/or response rates.


Analyze and Award Negotiations
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Analyze and Award Negotiations

Award the contract based on an accurate, data-driven analysis and collaborative review of the supplier.


Finalize Contract
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Finalize Contracts

Streamline contract creation by applying the terms and conditions from the negotiation event and the exception-based approvals.


Ensure Utilization
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Ensure Utilization

Realize contract saving by automatically applying the pricing and terms to covered purchases.


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