Healthcare systems are grappling with substantial operational and financial challenges due to non-standardized “bill-only” invoices for surgical implants and disposables. With around 9% of surgical implant “bill-only” line items plagued by pricing discrepancies; these issues are costing health systems billions of dollars annually.
What is Bill-Only in Healthcare?
Bill-only refers to a procurement and billing method specifically for patient-centric, high-cost surgical supplies and implantable devices. This process involves a hospital purchasing products for a patient, with items typically delivered the day before or on the day of a procedure. Unlike standard products, hospitals don’t record these items in their inventory, but they must still create a purchase requisition and pay the vendor. This manual, error-prone process can be time-consuming and costly.
The Case for Automated Bill-Only Management Systems
Medical device inventory management software systems that automates bill-only management processes offer a solution by handling everything from pricing management to requisitions, purchase orders, and invoice receipts. By automating these tasks, healthcare systems can reduce the purchase cycle from weeks or months to hours or days, enhancing both accuracy and efficiency (see case study).
Enhancing Efficiency with ERP-Level Supplier Integration
Further efficiency can be achieved by connecting health systems with suppliers at the ERP (Enterprise Resource Planning) level. This integration facilitates seamless transactions, ensuring accurate pricing and usage details, which in turn reduces errors and streamlines processes.
Introducing Movemedical’s “Bill-Only” Automation Module
The right medical device inventory software tools, such as Movemedical’s “Bill-Only” module, ensures transactional integrity through direct supplier integration at the ERP level. By proactively correlating inbound BOMs (bill of materials) and consigned inventory stock with the hospital’s Item Master, each item flows smoothly through the respective ERPs of both the health system and supplier.
Conclusion
By adopting automated bill-only management systems and integrating at the ERP level, healthcare systems can significantly reduce their operational and financial burdens. These advancements lead to more accurate and efficient procurement processes, ultimately benefiting both patients and healthcare providers.
If a conversation about imrpoving Bill-only processes using supplier data makes sense, let’s talk:
Contact us here: info@movemedical.com / call 877.469.3992 or watch this VIDEO (executive case study)
