3 Ways to Extract Unnecessary Costs – Conversations With VIE


This video was brought to you by Lisa Miller.
In this video, we discuss three ways to extract unnecessary costs in your purchased services spend.

1. Pricing Analysis

It's important to understand where your pricing is compared to the market. Click To Tweet
It’s not just pricing within your GPO, but rather a pricing analysis that extends across the complete marketplace. You need to choose a partner who can provide you with a thorough insight into pricing and have the ability to extract line item details.

2. Utilization Review

You can’t just take a snapshot of a few weeks or a month. The ability to understand your line item spend for your historical 12-18 months is absolutely critical. You need to know your detailed line item utilization of a particular purchased service spend for at least 12 months to get an accurate picture in order to extract unnecessary costs.

3. Understanding Your Off Contract Spend

Your hospital needs to understand the items and services you’re using utilizing that aren’t on the contract. We often see this in reference labs in particular, where over time, more tests are being utilized and these items, which aren’t on contract, leads to paying more.
Learn more about these three critical steps in the video above and how VIE Healthcare Consulting can help your hospital in cost-saving initiatives.
For a complimentary consultation, call our office today at 1-888-484-3332, Ext 500 or email us at [email protected]

Lisa Miller

Lisa Miller

Lisa Miller is a consultant, speaker, and podcast host. Her consulting firm, VIE Healthcare, has provided services to over 1,000 hospitals and organizations since 1999.

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Proven processes to organize and motivate your team to find savings

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DOWNLOAD FREE REPORT

Discover 15 Effective Cost Savings Strategies That Most Hospitals Can Apply Right Now

Learn how these five principles can help you reduce costs immediately.

VIE Healthcare 15 Effective Cost Savings Strategies Report Cover Image

A strategy developed from analyzing over 5,000 hospitals

A simple step-by-step plan in plain language

Proven processes to organize and motivate your team to find savings

We protect your information