Don’t Skim Over Purchased Services

Don’t Skim Over Purchased Services

It’s critical that hospitals take the time, make the commitment, and lean on expert resources for cost savings. You never want to simply skim over purchased services. For example, if conducting a sleep study, it’s important to map it to reimbursement. Hospitals will...
Are You Neglecting the Operating Room?

Are You Neglecting the Operating Room?

When it comes to getting a clear picture of your costs, are you neglecting the operating room? The OR accounts for up to 70% of a hospital’s revenue, between 55% and 65% of its margin, and 50% of a hospital’s costs. It goes without saying that it’s vital...
Should You Use Outside Consultants?

Should You Use Outside Consultants?

Should you use outside consultants, or use your own internal team and resources for your projects? It’s a common question, and it’s often a conversation point for the many different hospitals we speak with. Here are a few things you want to consider: 1. They...
Are You Optimizing Generic Drugs?

Are You Optimizing Generic Drugs?

There may be a big opportunity here for you in the name of optimizing generic drugs. In fact, even moving the needle just a little bit could create dramatic results for you.  Let’s start by sharing an important statistic. In the United States, 92% of all prescriptions...
Five Quick Cost Reduction Areas

Five Quick Cost Reduction Areas

Our firm has been responsible for hundreds of strategies, solutions and ideas for expense reduction. Let’s take a look at five which can be actioned right away, or at least reviewed or looked into. The first is unclaimed funds. You can go on your state’s website...