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Why Optimizing Your Healthcare Supply Chain is Important

Why Optimizing Your Healthcare Supply Chain is Important

Optimizing Your Healthcare Operation

There are many ways to optimize the performance of your healthcare enterprise. Centralized hiring through recruitment process outsourcing is one. Another is making certain that your supply chain is as robust as it needs to be and that it’s delivering both performance and value. This is particularly important for large healthcare enterprises which have large and complicated supply chains. Interruptions or delays can have a cascading effect that can disrupt entire departments or even multiple departments. 

Healthcare Supply Chain Management for Efficiency 

Healthcare supply chains are becoming increasingly complex as the industry moves towards value-based care. The days of hospitals and healthcare providers simply ordering supplies from their local distributors are long gone. In order to optimize their operations and improve patient care, healthcare organizations must now look into alternative vendors, evaluate the performance of their suppliers, and carefully manage their inventory. Thanks to advances in predictive analytics software, healthcare organizations can now get ahead of potential shortages and patient surges.

Some of the features of a modern healthcare supply chain include:

  • Predictive analytics or AI usage
  • Vetting alternative vendors of key items (at minimum)
  • Analysis of vendor and delivery performance over time
  • Proactive improvements (rather than waiting for a problem to solve)

Supply chain management for healthcare organizations is a complex process. In addition to managing inventory and evaluating suppliers, they must also keep track of regulatory compliance, patient data privacy, and cost containment. Furthermore, the supply chain must be able to quickly adapt to changing demand patterns resulting from seasonality or sudden surges in patient visits. This requires a robust and sophisticated system for monitoring and responding to supply chain issues.

How AI and Predictive Analytics Help Healthcare Manage Supply Chains 

Predictive analytics is an invaluable tool for healthcare organizations looking to optimize their supply chains. By leveraging data-driven insights, they can identify potential shortages before they occur and adjust their inventory accordingly. Predictive analytics can also help healthcare providers improve cost control by providing information on the best suppliers for each type of product. Finally, predictive analytics can be used to predict the impact of changes in regulations or market trends on supply chain performance.

Healthcare organizations are under increasing pressure to improve patient care and reduce costs. By utilizing predictive analytics software, they can manage their supply chains more effectively and efficiently while getting ahead of potential shortages and patient surges. These tools provide valuable insights that can help healthcare providers optimize their operations and improve patient outcomes. With the right tools, healthcare organizations have a better chance of succeeding in today’s complex environment. 

Predictive analytics is an invaluable tool for optimizing the healthcare supply chain. By leveraging data-driven insights, healthcare organizations can improve their operations, reduce costs, and ensure patient safety. With the right tools, they can get ahead of potential shortages and patient surges while staying compliant with regulations. Predictive analytics enable healthcare organizations to maximize efficiency while still delivering quality care. 

The Healthcare Supply Chain Lessons of COVID-19

No one would question the fact that the COVID-19 pandemic challenged the countries, and the world’s healthcare systems. Nothing on the scale of COVID had been seen since the early 20th century. COVID and the response of the healthcare system to it taught us many things. No doubt it will take many years of retrospective analysis to fully understand them. But one of the lessons it taught nearly everyone inside and outside of healthcare is that we are all only as secure as our supply chain. The supply chain is often overlooked or taken for granted as one of those systems that simply takes care of itself. 

Sure, we expect hiccups and inconveniences here and there. The people whose job it is to directly manage supplies in a healthcare facility know better than most how complex even a shortage or delay can be and how it impacts systems all the way down the line. COVID-19 exposed healthcare organizations to new, complex challenges in the supply chain. Many healthcare facilities experienced shortages and delays of critical supplies. Not only did this have a direct financial impact on healthcare providers, but it also had an indirect effect on patient care, as healthcare workers were forced to find other solutions for their needs.

Optimizing Your Healthcare Organizations Supply Chain

Fortunately, healthcare organizations like hospitals, clinics and urgent care centers today have access to a wide range of tools and technologies that can help them optimize their healthcare supply chain. No one wants to wait for the ‘next COVID-19’ to find out where the weaknesses in their organization are. That could be an expensive mistake or even one that’s impossible to recover from. Not every healthcare organization emerged from the pandemic intact and whole after all. Taking a proactive approach to supply chain management and seeking improvements in efficiency and contingency plans is the secret to both staying ahead of the competition and being prepared for the next crisis that truly tests the mettle of your healthcare business. 

Here are a few steps healthcare providers should take to make sure they’re making the most efficient use of their resources: 

  • Evaluate your suppliers: Do some research into your existing suppliers and evaluate their performance on factors such as delivery promptness, invoice price comparisons, and quality of supplies.
  • Consider alternative vendors: Keep an eye out for new vendors that might be able to provide the same resources at a better price or with better service.
  • Utilize software solutions: Take advantage of the latest healthcare supply chain software and predictive analytics solutions to monitor your inventory, anticipate potential shortages, and plan for future patient surges.
  • Monitor performance over time: Track the performance of your healthcare supply chain over time so you can identify areas where you need to make improvements or changes.

Putting It All Together

By taking the above steps, healthcare organizations can ensure that their healthcare supply chain is optimized and efficient. This will help ensure that healthcare providers can deliver the highest quality of care to patients while still keeping costs low. Even smaller healthcare organizations need to pay attention to inefficiencies and vulnerabilities within their supply chain. In most cases they need to pay even more attention because they have a smaller margin for error. Utilizing best practices for healthcare supply chain management and leveraging technology wherever applicable is the way forward. 

Contact SMG Healthcare Recruiters at (321) 353-8608 today to learn more about how the right RPO agency can improve your healthcare operation at almost every level.

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Frank A. Severino, Jr.

Director of Recruiting & Managing Partner

Born in Chicago, Frank moved to the Orlando area in 2012. As SMG Healthcare Recruiters Director of Recruiting, Frank works directly with the talented people we recruit as well as interacting with clients to ensure their needs are met and their expectations are surpassed. Frank feels blessed to have the opportunity to help build the family business and to be engaged in important work that plays to his professional and personal strengths. Frank says, “Helping people find gainful employment in an industry so full of passion for helping others is truly rewarding.” Like his father, Frank Jr. has experience working in behavioral healthcare in business development. In his leisure time, Frank Jr. coaches a nationally recognized high school baseball team in Winter Park, Florida. He also enjoys fishing, relaxing on the beach, cookouts and watching Chicago sports.

Michael Severino

COO & Managing Partner

Born in Woodridge, IL, Michael moved to Florida in 2014 and has been working with SMG Healthcare Recruiters since 2016. As COO, Michael helps see to SMG & Associates’ daily operations and ensures that clients get everything they need and more. One of his favorite parts of the job is working with people, especially helping candidates reach their highest potential. Michael considers himself extremely fortunate in having the chance to build the family business with his dad and brother, Frank Jr. Michael says, “I really enjoy working with my family. My father is my hero and being able to learn from him everyday is an opportunity that most people don’t have.” Michael currently lives in St. Cloud, FL with his wife and two bulldogs, Buca and Ozzie. In his down time, Michael enjoys boating and jet skiing. He is a technology enthusiast and is currently learning how to code in HTML, Javascript and LUA.

Frank B. Severino, Sr.

CEO & Senior Managing Partner

Born in the Chicago suburb of Oak Park, Illinois, Frank moved to Orlando, Florida in 2017. A founding member of SMG & Associates, he has been with the company since its very first day in 2019. Frank brings extensive experience in the Mental Health, Eating Disorder and Substance Abuse treatment field to SMG’s long list of strengths, working as the Executive VP of Business Development for RiverMend Health and as Regional Director for Lakeview Health. 

The move into healthcare recruiting seemed like fate to Frank as he has spent the bulk of his career working in either recruiting and staffing or mental health treatment. The decision to merge the two into the venture that became SMG Healthcare Recruiters came naturally. It allowed him to leverage his greatest strengths and provide truly exceptional service to the healthcare industry. 

Frank understands just how important filling positions with the right people is in the healthcare area because he’s seen the process from every angle. He lives in Sarasota, Florida with Karen, his wife of 38 years and is blessed to work with his sons, Frank and Michael in building SMG Healthcare Recruiters. His son Joseph has recently joined the firm and is learning the recruiting field as a candidate screener. Additionally, Frank leads our staffing company, “Pinnacle Staffing Resources”. He serves as an Advisory Board Member for the N.O.W. Matters More Foundation. He divides his free time between various passions including boating, fishing and golf and work with his church.