Supply Price Integrity

Archstone Management’s proprietary price integrity audit process ensures the prices that were promised by vendors are being adhered to. Our unique approach to price assurance is unlike any other. Leveraging various contract catalogs, benchmarking, big data, and our unique algorithms, we are able to discern incorrect pricing on a product by product and invoice by invoice level.

AREAS OF COVERAGE

Distribution
Laboratory
Pharmacy – Including Medicare Programs
Physician Preference Items
Service Vendors- Laundry, Print Services, Food Services, etc…


How are we able to do what we do?

Supply pricing is a critical component of any organization’s financial structure. It is imperative that vendor pricing be properly managed to ensure accuracy and effectiveness.

Competition is a healthy motivator. We saw what others were doing in the industry and we jumped in when we identified the need for improvement. Here is how:

Action! We identify pricing errors, facilitate the refund of the errors, and stop the bleeding through corrective action.

We look at the pricing from multiple perspectives. We align contract pricing, examine price movement, and match pricing with benchmarked purchases.

Archstone’s platform blends unique knowledge sets with thoroughly defined proprietary software to deliver the tangible returns hospitals need.
Focus is on capturing erroneous payments made to vendors with a fast turnaround in recouping funds.

Leveraging various contract catalogs, big data, and our unique algorithms, we are able to discern incorrect pricing on a product by product and invoice by invoice level.

technology infographic

BENEFITS

Immediate Price Correction
Overpayment Recovery
Transparency
Vendor Contract Optimization Reporting
Reduced Burden on Supply Chain Personnel
Improved Purchase Process Efficiency

Vendor Accountability Audit

Archstone’s Vendor Account Audit Process blends unique knowledge sets with thoroughly defined proprietary software to deliver the tangible returns hospitals need. Our Vendor Account Review focuses on capturing erroneous payments made to vendors with a fast 90-day turnaround.

We use our tested experience to generate much needed cash recovery for our clients. We know every vendor and their common pitfalls that cause hospitals headaches. Once complete, the accounting and supply chain staff is left with internal control remedies and proven action plans that provide overpayment prevention and vendor transparency.


VENDOR ACCOUNT REVIEW
– SCOPE

Aged Outstanding Credit Balances
Duplicate Payment Recovery
Missed Prompt Pay Discounts
Returned Goods Credits
Warranty Eligibility
Freight Accuracy