LONDON–(BUSINESS WIRE)–#HealthcareSupplyChain–SpendEdge, a leading provider of healthcare supply chain management solutions, has announced the completion of their latest article on the US healthcare supply chain predictions for 2020.
Declining profit margins due to supply chain inefficiencies are one of the major challenges facing US healthcare organizations. Medicare and Medicaid reforms and labor are consuming one-third of the budget and creating the need for potent supply chain strategies. Companies, therefore, need to consider supply chains as a strategic source to increase profits and develop models that can reduce supply chain costs.
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At SpendEdge, we understand that improving the healthcare supply chain is crucial for organizations to ensure sustainability. Therefore, our experts have analyzed the healthcare market and predicted the immediate future of US healthcare supply chain.
US Healthcare Supply Chain Predictions for 2020
Maximum bankruptcies in US hospitals
The US healthcare sector is set to witness over 100 individual facility bankruptcies in the coming year. Many organizations are in crisis and require funding to ensure sustainability. The growing number of IDNs in crowded market spaces are further adding to the woes of companies. Consolidation is one of the options that organizations can explore to prevent facilities from shutting down.
Want to reduce the possibility of bankruptcy for your organization? Contact our experts to obtain necessary insights into the US healthcare sector.
Use of blockchain
The US Food and Drug Administration has selected four tier 1 companies to support US Drug Supply Chain Security Act. These companies will develop an electronic interoperable system to trace certain prescription drugs. A shared blockchain network will be created by each company to allow real-time monitoring of products. The shared blockchain network is thus expected to increase supply chain transparency and improve inventory management.
Real-time monitoring of products is vital for healthcare organizations to improve supply chain management. Request a free demo from our experts to gain detailed insights to improve supply chain efficiency.
Decline in profit margins
Organizations in the US healthcare sector will observe a decline in profit margins due to supply chains’ inability to optimize financial potential. Companies will require effective healthcare supply chain strategies to reduce waste, recover costs, and gain buying power in the region by collaborating with other hospitals and manufacturers.
Want to know how you can devise effective supply chain strategies to address deteriorating profits margins? Request more information from our experts now!
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