GHX Automates Management of Contract Price Negotiations
By: Global Healthcare Exchange, LLC February 18, 2014
Global Healthcare Exchange, LLC (GHX) has developed the Single Channel 845 application, to automate the process of managing contract price notifications in the healthcare sector.
The tool allows manufacturers and distributors to reduce pricing discrepancies. Traditionally, they have had to support multiple file formats to send and receive contract price notifications. Most are sent via e-mail and processed manually, causing delays in pricing updates. Distributors must then administer rebates and chargebacks. Single Channel 845 allows users to manage price and eligibility updates using their current, preferred notification format. Manufacturers can continue sending price updates via electronic data interchange or comma-separate values, and distributors can receive them in their preferred format. In the process, trading partners can automate the shared business process while continuing to use their current workflow, GHX said.