New GHX Exchange Advantage Enables Healthcare Suppliers to Transform Digital Commerce

Solution Advances Greater Automation and Digital Transformation to Achieve Operational Excellence

LOUISVILLE, Colo., May 3, 2022 /PRNewswire/ -- Global Healthcare Exchange (GHX) today announced that GHX Exchange Advantage is available to all suppliers in North America. GHX Exchange Advantage is a comprehensive solution that enables suppliers to build a robust, scalable digital commerce foundation that drives more touchless transactions with their customers. GHX Exchange Advantage helps suppliers create a more efficient transaction experience by leveraging insights throughout the buying process to transform the order-to-cash cycle.

As healthcare continues the shift to an experience economy, consumers are still looking for more convenience, affordability, better quality and greater personalization. As healthcare providers transform to meet these expectations, suppliers are following suit. By creating a more efficient, frictionless digital commerce experience, suppliers have an opportunity to better support their customers and differentiate their business from the competition with superior customer experience.

"The burden on healthcare providers to do more with less –at an equal or higher quality – has increased exponentially during the past two years," said Steve Jackson, General Manager, Exchange Services. "To help providers succeed in this environment, suppliers are looking for ways to make it easier for their customers to automate 'back-office' processes. And they realize it's no longer an option – it's a necessity. GHX Exchange Advantage offers suppliers a unified platform that automates end-to-end digital transactions, making it easier for their customers to do business with them as they scale and grow their operations."

Fortifying Digital Transformation

GHX Exchange Advantage offers suppliers a single connection to healthcare's largest digital trading network, representing more than 85% of the U.S. acute care market which has resulted in unmatched scale of more than $127 billion in transaction volume during the last 12 months. Based on establishing common best practices, this new solution brings together the essential elements to enable more touchless transactions, including: 

• Transaction Automation: Digitize purchase orders, order acknowledgements, advance ship notices and invoices with more customers, accelerating each step from receiving the order through invoice delivery.
• Catalog Distribution: Automate product data distribution to provide customers with the most current catalog items and up-to-date product information.
• Intelligent Business Rules: Machine learning to automatically identify and remove discrepancies to improve order accuracy and reduce manual activity throughout the process.
• Insights and Analytics: Visibility into utilization insights and trends and transaction exceptions with ability to collaborate with customers for resolution.

"We want to create a differentiated, seamless experience for our customers at every stage of the buying process. With GHX Exchange Advantage, we can digitize critical business processes to help smooth every customer transaction. And just as important, the solution provides us with the necessary flexibility to scale our eCommerce capabilities as demand from our trading partners increases," said Luci DeRosa, Senior Director, Customer Service, Hologic, Inc.

About GHX
Building on decades of collaboration among providers, manufacturers, distributors and other industry stakeholders, Global Healthcare Exchange, LLC (GHX) is leading the charge in helping organizations run the new business of healthcare. By automating key business processes and translating evidence-based analytics and data into meaningful action, GHX is helping the healthcare ecosystem to move faster, operate more intelligently and achieve greater outcomes. With the support of GHX, healthcare organizations have removed billions of dollars of wasteful healthcare spend. For more information on GHX's suite of cloud-based supply chain solutions, visit www.ghx.com and The Healthcare Hub.

 CONTACT: Jordyn Comitor, [email protected]

SOURCE GHX