SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest newsletter on why should companies re-consider their decision of investing in the healthcare industry. The article offers detailed insights into the US healthcare industry and outlines the areas that might witness a downward sliding growth curve. The article also highlights how developing effective healthcare supply chain management capabilities can help companies make pharma products and devices affordable for people.
Despite holding a major share in the US economy and featuring in the list of top-five best performing industries, the healthcare industry is currently witnessing a steady increase in consumer spend. It is eclipsing some of the major industries in terms of spend growth and is expected to pose numerous challenges for potential investors.
This article will help you navigate through key areas in the US healthcare industry that might witness a downward sliding growth curve. Specifically, it will analyze the rippling effect of the tariff war between China and the US on companies. To help you handle this situation, our experts have also listed procurement best practices that are attuned to imposing challenges by performing a detailed US healthcare industry analysis.
Our healthcare industry analysis shows that companies of today are striving to align with rapidly changing markets and complex supply chains. The increasing demand for affordable and effective healthcare products in emerging economies are forcing them to improve the performance of the healthcare supply chain. However, most companies fail to understand the strategic benefits of an efficient healthcare supply chain.
The article provides a deeper understanding of the healthcare supply chain and highlights how it can help firms make pharma products affordable for people. Also, it shows how better healthcare supply chain management can act as a revenue accelerator for companies and improve access to short supply products.
Most companies do not pay much attention to the procurement process. They overlook the fact that poor inventory management can result in delayed procedures and higher procurement costs.
To address all such problems, it is imperative for companies to perform healthcare industry analysis and identify ways to improve the procurement process flow. Companies must develop an effective pricing strategy and examine the pricing structure to manage contracts better. While doing so, companies should also improve the accuracy of their orders by adopting a computerized provider order entry (CPOE) system. This article will help you identify more such strategies that can be adopted to improve the process efficiency.