Outsourcing, Insourcing, or ‘Right-sourcing’ This article was written by Lisa Miller. The healthcare sector relies heavily on outsourcing purchased services – but when should your hospital bring outsourced services in-house? We live in a time where outsourcing services has become the norm, even for our everyday experiences. Without leaving the comfort of our couch, we
This video was brought to you by Lisa Miller and Bryan Covert. Orthopedic Spine Implant Cost Savings When it comes to capitated spine programs, what we like to develop at VIE Healthcare is a fixed-component program. This model has several advantages, mainly that it’s going to scale as you do larger procedures so there’s no
Telecommunication sustainability is the key to managing costs. Operational sustainability of cost reduction through real-time visibility into telecommunication data will result in high performing management of line item costs, services, inventory and effective contract management. In order to achieve maximum optimization and contain charges, your hospital must have a systematic plan for monthly data extraction
What is Non-Clinical Burnout This article was written by Rich Dormer. As I was reading the featured Healthcare Executive article (Jan/Feb 2019 edition) by Maggie Van Dyke on ‘Battling Clinician Burnout’ it occurred to me that the points she made should be extended to battling non-clinical burnout throughout healthcare organizations. I recognize that the focus
Strategically Improving Healthcare Costs This research report was compiled by Lisa Miller. EXECUTIVE SUMMARY “As a general principle…about one third (of hospitals) have margins that are above zero, probably about one-third of hospitals are pretty close to zero…. and about one-third are running in the red.” – GARY J. YOUNG, DIRECTOR OF THE CENTER FOR
Costs Associated With Their Blood Service Agreement This article was written by Pandush Mitre. When was the last time you reviewed your blood services agreement with a view to reducing your blood service costs? Blood services are a big part of patient care, so hospitals will always incur costs associated with their blood service agreement. What
Real Estate Cost Reductions This article was written by Lisa Miller. Hospitals and healthcare systems regularly lease office and warehouse space to accommodate their needs but are not aware of the potential cost savings hidden in their lease agreements. Your hospital can achieve significant real estate cost reductions with RX Realty – a dedicated, specialist
Understanding and Navigating Merchant Services US hospitals accept debit and credit card payments but are not always aware of the total costs charged for these services. Understanding and navigating the system will ensure effective management of all costs associated with collecting revenue. Hospitals collect payments throughout their organization utilizing different methods. For instance, patient payments
Reinforcing Critical Cost Management of Medicare Costs This article was written by Bryan Covert. Recently published data from the American Hospital Association (AHA) reinforces how critical it is for all hospitals to be managing costs to Medicare. Its annual hospital survey, released in January 2019, clearly demonstrates how American healthcare systems continue to be underpaid by
Long Term Sustainability of Any Healthcare Organization This article was written by Lisa Miller. Establishing an agile cost transformation structure is essential for long term sustainability of any healthcare organization. As CEO and founder of VIE Healthcare® Consulting, I have identified seven key components to achieve this. Component One: Appoint a Dedicated VP of Cost
Four Critical Questions to Ask Outsourced Providers We’re continuing our series on ensuring quality and financial high-performance from outsourced providers. For part one, please see How to Ensure Quality and Financial High Performance from Outsources Providers Part 1 Here are four critical questions that must be answered: 1. What should be outsourced and what services
Achieving High Performing Outsourced Providers First and foremost an organization must understand why they want to outsource and what it is they are trying to accomplish through outsourcing. Many organizations gloss over or skip this step entirely believing that they already have most of this information and/or a mandate to move forward with the project.
