February 1, 2021
Why is data quality such a challenge? Why can’t the ERP Item Master overcome these challenges? Where can we find a solution? These are among the many questions that health systems are asking about data quality. Through its industry leading Marketplace procurement platform, Prodigo has found:
- On average health systems are purchasing more than 35,000 unique items in a typical year from more than 2,000 different vendors.
- Each contract item under management typically has three or more prices associated due to multiple purchased units of measure and multiple contract sources [local/GPO prices with primary/ secondary suppliers].
- Negotiated incentives and benefits are tied to the management of multiple contract price tiers and commitment thresholds.
This results in hundreds of thousands of items, prices, and supplier contracts where data needs to be updated more than once per year.
Click here to read the full article and how Master Data Management is an acknowledged pain point for most health systems and where to find the solution.