In 2013, the Health Industry Distributors Association (HIDA) launched a Thought Leaders initiative to address challenges in healthcare markets, with a focus on improving the contracting process. The top recommendation was to standardize the contracting process to reduce costs. HIDA’s Contract Administration Workgroup developed industry standards to enhance contract management, emphasizing three principles: automation, using electronic transactions and standardized processes; standardization, promoting GS1 standards for product identification; and timeliness, ensuring deadlines are met for accurate pricing. This effort aims to address pricing discrepancies and improve overall contract administration efficiency.

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