OR Supply Cost Reduction In this report we explore the cost savings opportunities available within the OR, specifically, the strategies which enable your hospital to reduce your OR supply costs by $1m and increase service line profitability by 15%. At VIE Healthcare® we successfully partner with hospitals and health systems to achieve cost savings and
Four proven strategies to launch cost savings for your hospital. These strategies cover 4 major areas for cost savings. Each is unique and doesn’t get looked at often or skimmed through. While some are not looked at all. But, if you launch even one of these hospital cost saving initiatives, you’ll quickly open the door
Physician Engagement for Successful Cost Reduction Physician preference items or physician driven spend is a significant driver for hospitals. Hospitals should aim to work together with their physicians, not just work with them when the need arises. Three obstacles are observed when hospitals begin the initiative of engaging their physicians for cost savings. Hospitals should
3 Structure Foundations to Improve Your Cost Implementing changes to improve your cost structure to realize savings must be a priority for healthcare leaders. As the US stands on the cusp of a new era of price transparency, healthcare costs rose to $3.6 trillion in 2018[1], while rural hospitals saw a record number of closures
This video was brought to you by Lisa Miller and Rich Dormer. Ways to Save Hospital Costs In this video, Lisa Miller and Rich Dormer present a controversial idea surrounding cost savings at your hospital. Namely, that your cost saving initiatives are a delayed reaction to effective cost management systems. And, unless a major
Price Transparency Strategy This article addresses the CMS rules on price transparency and how your organization should respond. As of January 2021, hospitals in the US are required to provide price transparency in a way that has never been seen before. Every hospital must deliver a plan for price transparency. Healthcare is one of the
Improve Your Hospital Financial Performance A thorough guide on the steps your hospital can take to improve its financial performance and reduce costs. Table of Contents: Focus on reducing overall spending. Maintain a competitive edge. Utilize green initiatives. Keep readmissions down. Avoid wasteful testing and supply use. Enhance patient satisfaction. Make smart investments in health
5 Strategic Profitability Improvements For Hospitals This article was written by Lisa Miller. Financial pressures remain a challenge for many health systems.1 As hospital leaders look for more effective ways to implement effective long-term cost savings across their organization, we suggest five ways to improve profitability in your hospital. They are: 1. Administrative costs The
This article was written by Lisa Miller. Successful Hospital Cost Savings Strategy Robust cost management is now imperative for every hospital. Adopting VIE Healthcare’s 4 P’s (Plan, Process, Project Management, Performance) of a successful hospital cost savings strategy can help to drive margin improvement across your hospital. Increasing financial pressure on US hospitals There is no
Manage Your Outsourced Agreements Effectively This article was written by Lisa Miller. Getting in front of your cost savings is the fourth mission critical component to manage your outsourced agreements effectively. You’ve accessed your line item details, carefully scrutinized the terms of your outsourced agreements and renewed those contract terms to include substantial cost savings. You’ve
This article was written by Lisa Miller. High Performing Strategies to Save Costs As healthcare leaders direct their focus to 2021, implementing high performing strategies for cost savings has to be a priority. At the time of writing, 32 US hospitals have filed for bankruptcy in 2020[1]. Reimbursement challenges, falling patient volumes and financial challenges arising
Resources for COVID-19 This article was written by Lisa Miller. Identifying credible, sustainable and cost effective COVID resources remains a priority for healthcare organizations. At VIE Healthcare®, we offer a variety of resources to address the COVID-19 cost impact on your hospital including: Ways to accelerate and maximize your funding solutions. Proven supply chain cost management
