Issue link: https://beckershealthcare.uberflip.com/i/1521009
25 EXECUTIVE BRIEFING EXECUTIVE BRIEFING "Thanks to strategic alignment with our category managers, spanning from sourcing to AP, we have minimized errors and strengthened contract negotiations," Mr. Droz explained. "Our timely payments allow us to leverage prompt-pay discounts with suppliers, underscoring another advantage of automation." With GHX, MUSC Health has also increased automated invoicing. "To go from a manual invoice to an automated one adds up to significant savings," Ms. Frame said. "Health systems choosing an end-to-end automated path have shown that only 7% of their invoices require manual correction, which is a massive decrease from paper-based exception handling. AP automation can put them on a path to more touchless, paperless invoicing." Mr. Droz echoed the sentiment, "Buyers can focus on where we are spending off- channel and where we can optimize contracts." In addition, incorporating automation technology into AP processes can help improve employee engagement and reduce turnover. "When you add automation and the best payment execution, organizations start to drive the employee experience," Mr. Hager said. "By having partners like GHX as a back-office support system, it helps free up time to assign FTEs to more strategic roles." Mr. Droz joined MUSC Health in September 2023. Since that time, AP has reduced its vacancy rate. "These jobs were so transactional that it was hard to retain talent," he said. "AP is currently projecting to end the fiscal year with only 5% turnover. We managed the vacancy rate by demonstrating how valuable AP roles can be." When MUSC Health integrated AP positions into the supply chain, the AP team gained a deeper understanding of the broader impacts of their work, both upstream and downstream. With the implementation of more automation, they were also able to participate more actively in supplier strategy discussions and organizational planning. "These employees recognize the potential for career growth within the supply chain," Mr. Droz said. "In our recent employee engagement survey, both AP and Procurement achieved Tier One status, marking the highest level of satisfaction." The future is bright for MUSC Health's supply chain According to Mr. Droz, as part of its ongoing strategic initiatives, MUSC has been actively pursuing strategies to bolster operational efficiency and fiscal stability through comprehensive P2P automation. "GHX offers tailored solutions to address hospitals' digital transformation needs. They have provided great insights and peer benchmarks to help us measure and optimize supply chain performance across the P2P continuum." 2 Building on decades of collaboration among providers, manufacturers, distributors and other industry stakeholders, Global Healthcare Exchange, LLC (GHX) is leading the charge in helping organizations run the new business of healthcare. By automating key business processes and translating evidence-based analytics and data into meaningful action, GHX is helping the healthcare ecosystem to move faster, operate more intelligently and achieve greater outcomes. With the support of GHX, healthcare organizations have removed billions of dollars of wasteful healthcare spend. For more information on GHX's suite of cloud-based supply chain solutions, visit www.ghx.com and The Healthcare Hub.