Optimizing the Returned Goods Process for Your Healthcare System
Why does the returned goods process lose millions?
On average, each year health care systems return 4% of the products they purchase. Of those returned products, 7% does not get credited back by the vendors which ends up being a loss of $700,000,000 each year. The returned goods process is a simple concept – return the product to get your money back but if the process isn’t managed correct the money lost is significant. This white paper reviews the importance of establishing and following a returned goods process and using internal reviews to keep you on track.
Manager of Client Solutions at TAG, Inc. and has been with TAG for over 7 years
Specializes in delivering cost savings to a wide array of clients as well as comprehensive consulting in the P2P space; in his career he has delivered over $20M in cost savings for his clients
He is an expert in assessing the functionality of returned goods processes in the health care space and developed TAG’s returned goods implementation service
Also very well versed in assisting health systems with ERP system conversions and the often-complicated go-live process
Written blogs and given presentations on returned goods and also presented at national conferences, such as AHIA 2019, on the power of using data analytics to mitigate risk within a health care organization
M.B.A. degrees, B.A. degree in accounting, and B.A. degree in finance, University of Central Missouri