Identify New Ways to Reduce Your Costs
Eliminate Unnecessary Costs. Healthcare providers need to find effective ways to reduce unnecessary overspending that impacts the organization's bottom line. Whether you're a pharmaceutical company, a healthcare provider, or working alongside the top healthcare brands, it's essential to eliminate spending waste.
Optimize Spend Data Analytics. VIE can help health systems optimize their analytics to gain the most actionable insights from their data and EHR information. Healthcare providers can then use these analytics to make business-critical decisions, invest in new healthcare services, purchase new medical devices, and improve the patient experience.
Accelerate Your Expense Reduction Initiatives. Brands within the healthcare industry seldom have the luxury of time. Top healthcare companies often want to see immediate results and review real-time data and EHR documents. By working with a consulting firm, you can accelerate new initiatives throughout your healthcare company.
Benchmark Your Costs. When you establish firm cost and capacity expense benchmarks, it's easier to track performance against your local market and your global competitors. So whether you're in a saturated market like New York or you operate a rural hospital, it's important to set effective, realistic performance benchmarks that help keep your brand on track.
Measure the Performance of Your Contracts
It could deliver an experienced, thorough analysis of your existing contracts and spend to identify areas of maximum cost savings further. For clinicians, administrators, and CEOs within the healthcare space, it's essential to ensure results whenever possible. While top healthcare brands take risks, these are often calculated risks that are more likely to pay off and deliver results. Working with a consultant is another way to increase effects, implement best practices, and adhere to revenue cycle management protocols.
It could analyze every line-item detail of your historical spend, so we can understand every cost savings opportunity and know exactly what you need to contract for and at the right price. Top healthcare companies depend on thorough line item analyses to identify profits, explain data outliers, and account for variables. When clinicians identify savings opportunities, it's easier to manage payers, acquisition transactions, mergers, recruiting efforts, and more. You can also spot contract savings by reviewing payer contract line items and outstanding agreements with government agencies or third-party advisory services.
It would be able to perform this analysis quickly, so you can start controlling costs within days and weeks, not months or years. Whether you're looking to achieve regulatory compliance or you want to find the best way to implement lower-cost policies throughout your health system, VIE can help you examine your business model, implement financial changes, and rethink the ways you approach management services. With years of experience, we can help you address your outstanding healthcare costs, improve profits, and leverage big data to paint a complete picture of your fiscal health.
Exceed industry norms and achieve pricing better than your peers.
Analytic and sourcing resources that pay for themselves.
Minimize costs for supplies and services.
Maximize savings with our professional negotiation services.
Gain physician buy-in and internal engagement.
Maintain or improve healthcare while lowering costs.
We provide a forensic review of your data.
We develop a detailed roadmap for your organization.
We accelerate margin improvement initiatives so you can meet your financial goals.
VIE Healthcare’s measurable cost impact on our organization’s bottom line was both immediate and sustaining. I could actually see the implemented savings documented on the invoice level.
VIE Healthcare brought a level of professionalism, creativity, and drive that was infectious to the management leadership throughout our organization and led to many successful cost savings initiatives for the Health System.
The dual vertical and horizontal communication approach VIE Healthcare took with the staff and management unified our organization and fostered efficient and effective results.
VIE Healthcare focused on many of the high-cost areas within our organization, including the Cardiac Cath Lab, OR, Laboratory, and Radiology, and was able to create substantial savings in each. In addition, VIE’s unmatched expertise in Purchased Services generated significant reductions in challenging areas such as Clinical Engineering, Dietary, and IT.
Episode Introduction Adopting new habits can reap significant cost savings rewards. Lisa introduces six proven best practices including, creating an Accelerating Cost Savings team, why hospitals should follow the cost savings ‘’yellow brick road’’, and why frontline employees are your best source of innovation. Lisa also cites Tom Cruise as
Episode Introduction As hospitals struggle with spiraling costs, Lisa Miller reveals seven key ways to save money in the next 12 months. Topics Include how ‘’flickering’’ helps to reflect on
Episode Introduction Lisa Miller shares her experience of successful hospital cost savings projects from the past 12 months and looks ahead to 2023. Topics Include. the need to set big
In Episode 58 of The Healthcare Leadership Experience, Lisa Miller and Brian Morgan, CEO and Founder of Think Deeply, Write Clearly explore the impact of the written word and what
