Hospitals and health systems are feeling a financial squeeze, one of the many ripple effects of a global pandemic wreaking havoc on healthcare infrastructure. In hospitals inundated with COVID-19 patients, elective and non-emergent procedures were cancelled or postponed indefinitely—a trend with significant impacts on the bottom line. With revenue down, hospitals and health systems are looking to maximize cash flow and savings wherever possible by bolstering resources to manage cost-savings programs like 340B. For organizations that are new to 340B or that had been underutilizing the program, the crisis has provided an opportunity and a call-to-action to adopt, expand, and/or …

The role of CRM applications in sales organizations has grown in significance in the past decade, as innovations in technology have enabled powerful capabilities. Once considered fairly one-dimensional repositories of customer information, applications like Salesforce have become critical to enhancing sales performance and facilitating business success. Today, CRM can make or break a sales organization’s success. Salesforce is often the go-to solution for sales organizations looking for a ready-made CRM implementation, free from the added expense and effort involved in system customization. This is great for Salesforce, but may not be especially beneficial to customer organizations in the long run. …

The COVID-19 pandemic has upended much of the world as we know it, wreaking havoc on industries of all sizes to varying degrees. And while business may be booming for networking technology companies or healthcare suppliers, for most industries the outlook is a bit more complex. In the years preceding the pandemic, the landscape of the insurance industry had begun to shift dramatically. The industry had been experiencing a fundamental transformation driven by the emergence of InsurTech—which has accelerated product innovation and introduced new business models—and an increasingly stringent regulatory environment. In an industry not accustomed to radical change, insurance …

Organizations often face significant challenges to deliver value to their customers in a timely manner without compromising quality. For this reason, many organizations are taking cloud migration seriously due to the promise of greater speed to market and value-add. As more businesses move towards adopting cloud solutions, spending on the SaaS model will continue to gain momentum as it is increasingly seen as a disruption that has revolutionized the software business because it provides greater flexibility to the customer. However, security, privacy and performance are some of the concerns standing in the way of full adoption. To meet these challenges, …

Pharmacy Benefit Managers (PBMs) play a crucial role in the healthcare industry. To this end, the PBM sector is evolving rapidly in the healthcare domain. Ever-changing regulatory guidelines focus on reducing drug costs which result in delivering best- in- class prescription products to better manage patient conditions. The role of PBMs Whether the need is for delivery of high-quality or cost-effective healthcare, PBMs are critical for helping patients achieve better health outcomes through greater access to appropriate medications. These include: Processing and paying prescription drug claims Developing and maintaining the formulary, Contracting with pharmacies to negotiating discounts and rebates with …