Healthcare organizations face several challenges in growing their businesses, and many of them stem from the complexities of managing suppliers.
Decision making in healthcare is often driven by contracted sales and is heavily influenced by distributors, group purchasing organizations, managed care organizations, and government regulations. As a result, managing supplier relationships and medical supplies is a constant challenge, which has been compounded by recent global supply chain issues—and getting the right supplies to the right facilities on time is only half the battle.
The other half of the battle is controlling rising costs with suppliers, and many healthcare organizations are stuck relying on error-prone manual processes to manage their supplier rebate programs—which can lead to costly mistakes. This is a significant challenge that can result in lost revenue, as healthcare organizations often depend on suppliers to calculate and issue rebates, and they don’t have any visibility to validate the accuracy of rebates. In fact, at least four percent of potential rebate revenue goes unclaimed every year.
To help healthcare organizations address these challenges, we are introducing Supplier Rebate Management, a new solution within Oracle Fusion Cloud Channel Revenue Management.
Part of Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), Channel Revenue Management automates trade program processes and settlement in the cloud. By simplifying rebate programs, Supplier Rebate Management will enable our healthcare customers to maximize their revenue potential by helping them to:
There doesn’t appear to be any end in sight to the global supply chain disruptions—in fact, a recent Oracle survey found that two-thirds of people are scared that these supply chain issues will never end. And considering that better operational health and greater profitability often lead to better patient care, my team is committed to helping our healthcare customers maximize their revenue potential and grow their businesses via Oracle Channel Revenue Management and the new Supplier Rebate Management offering. To learn more, please click here.