HIDA releases supply chain meeting highlights on how to increase accuracy, lower costs, reduce contract rework; suggestions include standardizing administrative fee format for suppliers, improving pricing accuracy with automation, standards, timeliness

Sample article from our Health Care Sector

ALEXANDRIA, Virginia , March 9, 2022 (press release) –

Alignment among trading partners’ processes and data leads to pricing accuracy

At the 7th annual Contract Administration Conference, the Health Industry Distributors Association (HIDA) convened healthcare contract leaders to advance adoption of industry-wide best practices.

More than 80 professionals from distributors, manufacturers, GPOs, and healthcare provider organizations gathered to share ways to increase accuracy, lower costs, and reduce rework in administering pricing contracts for medical products. At the event, HIDA’s Contract Administration Steering Committee agreed to further explore ways to improve contract administration through three new workgroups focusing on GPO rosters and eligibility, contract creation, and the credit/rebill process.

These experts help the industry improve the complex field of healthcare contract administration by creating and encouraging adoption of recommendations and standards. Highlights of some of their collaboratively-created resources are below. To access these and other resources, visit HIDA’s Pricing Accuracy webpage.

  • GPO Admin Fee Toolkit: Template offering a standard format for group purchasing organizations to receive administrative fees from their contracted supplier partners.
  • Improving Pricing Accuracy: White paper recommending pricing accuracy best practices around three guiding principles – automation, standards, and timeliness.
  • EDI 845 CSV Tool: Resource addressing electronic data interchange transaction set used by manufacturers to communicate pricing updates to distributors.

The Contract Administration Conference resulted from the work of HIDA’s Healthcare Supply Chain Collaborative. The Collaborative addresses end-to-end supply chain challenges including supply chain resilience, pricing accuracy, and product information management, and works to advance best practices for processes and data. Learn more about the 2023 Contract Administration Conference and its sister event, the Supply Chain Visibility Conference. For more information about the Collaborative, contact Manpreet Kaur Sandhu.

About HIDA
The Health Industry Distributors Association (HIDA) represents the country’s medical product distributors – the nation’s essential link between manufacturers and patient caregivers. HIDA members offer critical services increasing the efficiency of U.S. healthcare providers, including hospitals, nursing homes, laboratories, home care, and physician practices. For more information, visit HIDA.org.

Media Contact:

Sharon Cohen»
Communications Director
HIDA, 703-838-6104

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