Product Data Management Solution
Today's healthcare supply chain is a vast and complex environment overwhelmed with data disparity between the multitudes of item file formats and product definitions. The lack of accurate, synchronized product information inhibits the implementation of standards and deployment of efficient business processes. Ordering items off contract, getting the wrong size, over or under stocking, billing errors, and manual reconciliation are common challenges in this environment. Providers, typically operating on very thin or negative margins simply can't afford these costly inefficiencies. Most purchasing departments already have a good Enterprise Resource Planning (ERP) or Materials Management System (MMS) in place but struggle to realize the full potential these tools offer because they lack reliable synchronized product data.
The product data contained in MMS or ERP systems is oftentimes incomplete and inaccurate. There is also great variability of information among a hospital's suppliers. This causes many issues in the supply chain leading to waste, delayed processing, and unnecessary manual intervention; all of which increase costs and potentially put patients at risk. Whether you are embarking on a Master Data Management (MDM) initiative, migrating purchasing systems, preparing for joining the Global Data Synchronization Network (GDSN®), or simply want reliable business intelligence, clean and well structured data is a prerequisite.
Optimized product data is critical to proper implementation of supply chain management and improvement efforts. With optimized data, you know the true manufacturer and catalog number, you have a complete and accurate description with full packaging information, you have items properly classified according to industry standards like the UNSPSC® or your own in-house taxonomy, and your data is presented in a consistent usable format that is synchronized and continually maintained. With optimized data, your staff is freed from time consuming and inefficient data cleansing activities and can focus on adding value through deeper analysis and better decision making.
The product data contained in MMS or ERP systems is oftentimes incomplete and inaccurate. There is also great variability of information among a hospital's suppliers. This causes many issues in the supply chain leading to waste, delayed processing, and unnecessary manual intervention; all of which increase costs and potentially put patients at risk. Whether you are embarking on a Master Data Management (MDM) initiative, migrating purchasing systems, preparing for joining the Global Data Synchronization Network (GDSN®), or simply want reliable business intelligence, clean and well structured data is a prerequisite.
Optimized product data is critical to proper implementation of supply chain management and improvement efforts. With optimized data, you know the true manufacturer and catalog number, you have a complete and accurate description with full packaging information, you have items properly classified according to industry standards like the UNSPSC® or your own in-house taxonomy, and your data is presented in a consistent usable format that is synchronized and continually maintained. With optimized data, your staff is freed from time consuming and inefficient data cleansing activities and can focus on adding value through deeper analysis and better decision making.
Solution Benefits
- The Data Genomics© services interact with each other to continually refine your source data into complete, accurate, categorized, well-structured, and usable information.
- The Data Genomics© solution is available through a turnkey hosted service offering or as a fully customizable solution that can be integrated into your existing systems. With Data Genomics© the result is greater accuracy, reduced costs, and improved decision making abilities.
Solution Components
Data Genomics© Standardization
technology is based on artificial intelligence methodologies for automatically transforming unstructured product data (unformatted text descriptions) into a desirable format with structured information and product attributes tailored to each product category.
Data Genomics© Categorization
transformation technology is used for automatically categorizing medical product records based on existing and evolving industry standard taxonomies, such as UNSPSC, GMDN, etc., as well as your own classification structures.
Data Genomics© Enrichment
web scraping technology for product catalogs published by suppliers of medical products enabling rapid and automated synchronization of reliable product information with Hospital Item Files, GPO Item Repositories and other healthcare trading partners. Product information may include true manufacturer, catalog number, packaging info, item description, category, etc.