Stanford Medicine and GHX Named a Finalist in 2022 Constellation Research SuperNova Awards

Published: Aug. 18, 2022 at 9:30 AM EDT

Recognized in Data to Decisions Category for Disruptive Technology Leadership

LOUISVILLE, Colo., Aug. 18, 2022 /PRNewswire/ -- GHX today announced customer Stanford Medicine has been named a finalist in the 12th annual Constellation Research "SuperNova Awards" in recognition of its collaboration with GHX to improve its Procure-to-Pay (P2P) operations. As digital transformation evolves across industries and geographies, organizations must make greater investments in technology to remain leaders in their field. The SuperNova Awards recognize individuals and teams who are prioritizing disruptive technology and transforming their organizations with digital initiatives.

Stanford Medicine and GHX set out to build a stronger, more reliable data foundation to drive more informed decisions about the healthcare organization's P2P operations. By cleansing and integrating multiple sources of data across the organization to increase visibility into cash flow, Stanford Medicine has been able to:

  • Successfully automate nearly 100 percent of invoices, eliminating costly delays and inefficiencies in order processing and meeting payment terms
  • Improve inventory data accuracy to support real-time supply chain decision making
  • Strengthen supply reliability efforts during product shortages
  • Maximize savings and reinvest in patient care
  • Deliver financial reporting in the P2P cycle

"Savvy digital leaders from all industries have made the move from digital channels to digital business models. Despite a high level of uncertainty, rampant inflation, rising interest rates, uncertain inventory and a massive labor shortage, this year's SuperNova Award winners have made a significant impact to their businesses," said R "Ray" Wang, founder and CEO of Constellation Research. "The lessons learned from these organizations provide a strong template and great inspiration for other leaders looking to pave the way in their organizations."

"From the outset, Stanford Medicine's dedicated team set out to create a system that would improve financial, operational and, ultimately, clinical outcomes. It's gratifying to see their years of hard work recognized,'' said Bruce Johnson, president and CEO, GHX. "We take pride in the relationship we have built over the years and aspire to apply this blueprint for success more broadly so that we can drive more data-driven decision making across the healthcare ecosystem."

The 2022 SuperNova Award judges, comprised of technology thought leaders and journalists, selected finalists who demonstrated success in implementing cutting-edge business models and emerging technologies for their organizations. Finalists achieved remarkable results, including competitive advantage, cost savings and quantifiable improvements in agility.

Public voting for the SuperNova Awards will take place online from August 8 to September 2, 2022. The winners will be announced at the SuperNova Awards Gala on October 26 in Half Moon Bay, California, during Constellation's Connected Enterprise conference.

To vote for Stanford Medicine and GHX, please go to the Stanford Medicine page and hit "Vote for this Entry" in the upper right-hand corner.

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.

About Constellation Research

Constellation Research is a technology research and advisory firm based in Silicon Valley. We deliver strategic guidance to companies seeking to transform their businesses through the early adoption of disruptive technology. Our analysts draw on their experiences as practitioners to deliver pragmatic advice to CXOs leading digital transformation within their organizations. Clients include board of directors, C-suite executives, line-of-business leaders, and IT visionaries who are not afraid to challenge the status quo. Our mission is to conduct research on emerging technologies, identify and validate trends, and empower our clients to succeed in the digital economy. Constellation Research also hosts DisrupTV, a show hosted by our founder R "Ray" Wang, which features disruptive leaders and reaches 40k+ viewers each week.

Global Press Contacts:

Jordyn Comitor
Tier One Partners on behalf of GHX
jcomitor@tieronepr.com

Elle Froze
Director of Marketing
Email: Press@Constellationr.com

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SOURCE GHX

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