ARCHSTONE MANAGEMENT SERVICES

Price assurance, through transparency and diligence

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.

Archstone Management’s proprietary PriceTrack program ensures the prices that were promised by vendors are being adhered to. PriceTrack’s unique approach to price monitoring is unlike any other. Coupling various GPO contract catalogs, benchmarking, and our unique algorithms, we are able to discern incorrect pricing on an product by product & invoice by invoice level.

While GPOs focus on go-forward cost savings and price improvement, Archstone’s PriceTrack progam focuses price assurance. They promise, we assure accuracy.

Archstone’s PriceTrack program runs in the background of hospital operations, operating out of sight.

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PriceTrack Areas of Coverage

  • – Distribution Pricing
  • – Laboratory Pricing
  • – Pharmaceutical Pricing – Including Medicare Programs
  • – Direct Manufacturer Pricing
  • – Service Vendor Pricing – Laundry, Print Services, Food Services, etc…

Benefits

  • – Immediate Price Correction
  • – Overpayment Recovery
  • – Vendor Transparency
  • – Vendor Contract Optimization Reporting
  • – Reduced Burden on Supply Chain Personnel
  • – Improved Purchase Process Efficiency
Archstone’s Vendor Account Review blends unique knowledge sets with thoroughly defined proprietary software to deliver the tangible returns hospitals need.Our┬áVendor 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