The healthcare industry is a major supplier for jobs and for many, a supplier of life-altering outcomes. The industry is a critical one, so it's vital that healthcare organizations have optimal business processes in place.
Each year, approximately $8,600 is spent per capita on healthcare in the United States alone. In order to keep up with the demand of patients while still providing high quality care, many in the industry are adding new technological capabilities to make patient tracking and data management more efficient than ever. With these advancements, some vendor tracking itself can tend to get out of hand.
This was the case with one leader in the industry who had to completely re-evaluate their current Statement of Work (SOW) process because leaders had lost their way. There was little to no insight into spending and no efficiencies were being made. When they needed this done the right way, they called in Yoh's experts to create a solution and revitalize their current vendor management processes. Our dedicated teams began to help immediately to save this organization's inefficient practices.
The healthcare giant’s SOW practices were becoming unorganized, unclear and costing the company money. The company’s current SOW process was poorly managed and lacked any visibility or insights into spending, sourcing, and performance metrics. As an organization that helps healthcare companies improve the health of millions, a complete overhaul was needed with zero room for error.
Our experts saw the key aspects of the client’s SOW program – what is the spend, where is it going, what are the performance metrics, and how are they being paid – were failing and began to develop a new Services Procurement process with all vendors to bring the client back to life.
Our committed teams were determined to create innovative solutions to save this client's SOW program. As problems continued to unravel, we developed and introduced a SOW program that completely transformed an old, outdated, manual process into a fully automated one, delivering previously unheard of visibility, savings and performance insights.
Prior to the personalized SOW pilot program we introduced, there were no defined policies, no sourcing mechanisms or tools, and not nearly enough competitive sourcing. We wanted the client's leadership team to have a clear look into the SOW processes and all of the transactions, and our experts successfully provided that.
After 40 in-person vendor meetings and 18 months later, we successfully launched the client’s comprehensive SOW program. Our dedicated teams diagnosed the client with a disorganized process and treated it with a completely automated system. Now, managers have visibility and control over spend and approval chains at a moment’s notice, when before it would either take days to find out information or, most often, never at all.
Procurement was removed from daily tactical SOW set up, approval and PO request process, and is now free to focus on more strategic responsibilities. In summary, our agile team brought back visibility, consistency, compliance, change management processes, and tracking and cost management to all future SOWs. Supporting $12 million in active managed projects was no problem for our experts.
Find out more about our client's success here.