As we head into 2023, the healthcare industry continues to evolve at a rapid pace, with technology playing a significant role in transforming the way we deliver care. Procurement, in particular, has become a critical area of focus for healthcare providers looking to stay ahead of the curve.
Here are the top healthcare procurement trends of 2023.
Post-COVID consolidation
The COVID-19 pandemic has had a significant impact on the global economy, most obviously, on the healthcare sector. The pandemic has led to a number of challenges for healthcare providers, including:
- Reduced patient volumes
- Massively increased costs
- Supply chain disruptions
- Greatly expanded supplier base
As healthcare providers seek to streamline their procurement processes and reduce costs, they are likely to consolidate their vendor base. This will involve working with a smaller number of suppliers who can provide a wider range of products and services, thereby reducing the administrative burden and improving supply chain efficiency. This is done with the following objectives in mind:
- Long-term cost reductions
- Greater supply chain surety
- The need to reduce risk
- Alignment with suppliers that genuinely understand procurement objectives
AI on the rise
Artificial intelligence (AI) is rapidly transforming the procurement landscape. AI-powered procurement solutions are being used to automate tasks, improve decision-making, and reduce costs.
In the healthcare sector, AI is being used to automate a variety of procurement tasks, such as sourcing, supplier management, and contract negotiation. AI is also being used to improve decision-making by providing insights into past purchasing data, supplier performance, and market trends.
The use of AI in procurement is still in its early stages, but it has the potential to revolutionize the way healthcare providers acquire goods and services. AI-powered procurement solutions can help healthcare providers to save money, improve quality, and reduce risk.
Here are some specific examples of how AI is being used in procurement in the healthcare sector:
- Sourcing: AI can be used to automate the sourcing process by identifying inventory patterns and potential sourcing efficiencies.
- Supplier management: AI can be used to manage supplier relationships by tracking performance, identifying risks, and resolving issues.
- Contract negotiation: AI can be used to negotiate contracts by identifying the best terms and conditions and ensuring that contracts are compliant with regulations.
- Data analytics: AI can be used to analyse data to identify trends and patterns that can be used to improve procurement decisions.
The use of AI in procurement is still in its early stages, but it has the potential to revolutionize the way healthcare providers acquire goods and services. AI-powered procurement solutions can help healthcare providers to save money, improve quality, and reduce risk.
Increased focus on sustainability
Sustainability has become a significant concern in healthcare procurement, with providers looking for ways to reduce their carbon footprint and minimize waste. In 2023, we can expect to see more healthcare providers focusing on sustainable procurement practices, such as sourcing products from eco-friendly suppliers, reducing packaging waste, and implementing circular economy principles.
Supply chain transparency
Supply chain transparency has become a critical issue in healthcare procurement, particularly in the wake of the COVID-19 pandemic. In 2023, healthcare providers will continue to prioritize supply chain transparency, ensuring that they have visibility into the source of their medical supplies and the conditions under which they were produced. This will involve working closely with suppliers to ensure that they meet ethical and environmental standards.
Adoption of blockchain technology
Blockchain technology has the potential to transform healthcare procurement by providing greater transparency, security, and efficiency in the supply chain. In 2023, we can expect to see more healthcare providers adopting blockchain technology to track medical supplies and ensure that they are authentic and free from counterfeit products. Blockchain can also be used to automate procurement processes, reducing the administrative burden on healthcare providers.
