Aggregate Spend – Conversations With VIE

by | Mar 5, 2021 | Benchmarking, Conversations With VIE, Videos

This video was brought to you by Lisa Miller.

In this video, we discuss why aggregate spend analysis and benchmarking from your agreement will leave money on the table and simply doesn’t work.

Here’s an example.

We had a client that asked us to look at their medical gas costs and to see if we could perform an analysis.

At first glance, and where most hospitals and organizations would stop, there didn’t appear to be many areas for improvement. In fact, just benchmarking from their total spend and reviewing the agreement for pricing opportunities would’ve likely yielded a 2-3% improvement and the hospital would’ve likely evaluated whether or not it was truly of benefit to pursue and allocate resources to achieve the 2-3% better pricing.

However, VIE Healthcare is different.

Through our thorough analysis and review of 12-month invoice data, we discovered (as we often do) an entirely different story. There was a clear disconnect between the invoices’ line-item pricing compared to the agreements.

The disconnect was so large that VIE Healthcare was able to secure a $180,000 credit on the hospital’s annual spend of $240,000.

You simply can't risk the amount of money you could be leaving on the table through an aggregate spend analysis and benchmarking from your agreement. Click To Tweet

Learn more about this specific example in the video above and how VIE Healthcare Consulting can help your hospital in cost-saving initiatives.

Schedule a call today: For a complimentary consultation, call our office today at 1-888-484-3332, Ext 500 or email us at [email protected]

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