Listen to this articleTAG, Inc., formerly The Audit Group, has been serving the healthcare industry for over thirty years. Started by current CEO, John Weiss, TAG has evolved from a traditional accounts payable (AP) recovery audit firm into a company focused on optimizing health systems’ entire procure-to-pay processes (P2P). TAG focuses on providing services and tools to help its clients reach optimal performance in their business processes from supply chain to AP. Below is our recent interview with John Weiss, CEO of TAG:
Q: Who is your ideal client and why?
A: Our ideal client is a regional or national healthcare system whose leaders are interested in improving, creating, and maintaining financially and operationally sound supply chain and disbursements practices. These leaders are hungry to continuously improve their operations and save their organization money. They have the belief that they can reach industry benchmarks and the motivation to do so.
These clients are currently challenged with the COVID-19 pandemic and continue to lose millions of dollars. This current state allows our clients to increase cash flow through a non-traditional revenue generator – recovering funds lost to their payments to vendors.
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Q: How much do you recover your clients?
A: While several factors play into exactly how much we recovery and save each client moving forward, we average $1,000,000 per $1,000,000,000 a health system spends. We’ve found that our recoveries double that of most of our competitors due to our comprehensive approach focused on what is best for each client.
Q: Can you give us more insights into your services?
A: Our services are based on a multi-step process of examination, consulting, and implementation of healthcare systems’ procure-to-pay operations. This method brings together traditional Accounts Payable (AP) Recovery Auditing with lean-based P2P process flow mapping.
Our examination starts the moment we receive our clients’ data and process it through our proprietary analysis tool that identifies incorrect payments, inefficient ordering, and mistakes made during disbursement. Our analysts then get to work reviewing those disbursement errors, such as duplicate payments, over payments, etc. and works with our clients’ vendors to confirm and collect funds based on their findings.
Our insights gleaned from that review uncover areas where our clients are leaking funds or operating inefficiently. These findings coupled with our lean-based process services and leadership development create a targeted game plan of exactly where to improve their process to prevent disbursement errors from occurring again!
It’s this multi-step process that we have coined as going Beyond Recovery and makes us distinctive from traditional recovery audit firms.
Q: What is TAG’s best asset?
A: The best thing about TAG is our people, of course! We don’t simply say what we are going to do for a client – especially new clients that do not know our capabilities – we put those words into action and exceed expectations every time. Words are important. Actions are your commitment to those words.
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Q: What can we expect from TAG in next 12 months?
A: Right now, we are in the middle of offering our clients free recoveries as our way to give back during the uncertain times COVID-19 has brought upon everyone. We are dedicating ourselves to ensuring 100% of every dollar we recover for our clients goes directly into their bank accounts so they can continue to meet cost and payroll demands for their front-line employees.
We are not only proud to be doing this, but also grateful we are in a position in which we can!
In the next 12 months we plan to do what we do best – continuing to help healthcare systems. Our goal is to be the first place health systems go for their Procure-to-Pay business process needs. TAG is and has been expanding its capabilities through new hires and partnerships to serve as a one-stop shop for our clients.
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