All hospitals rely on outsourced agreements and services to deliver quality patient care, but they are complex, with financial and operational implications.In this new blog series, we will cover the four mission critical requirements to effectively manage your outsourced agreements (also referred to as purchased services).In this introductory article, we highlight those four components. Why
This video was brought to you by Lisa Miller and Rich Dormer. In this video, Lisa Miller and Rich Dormer discuss the three purchased services strategic myths that hospitals are being advised on that are fundamentally flawed. 1. Category Spend Data Category spend data is not a strategy. Hospitals are being told that category
This video was brought to you by Lisa Miller and Rich Dormer. In this video, Lisa Miller and Rich Dormer discuss what separates VIE Healthcare Consulting from the pack and makes us the premier choice for hospitals. 1. We’ve Been in Business Since 1999 We’ve been in business and sustained our level of excellence
Ensuring quality and financial high performance from outsourced providers is kind of like making a spanakopita from scratch—when you don’t have the recipe or guidance from a master (or even know what it is. Google it.) One word—disaster. Following these steps will make it easier to execute. It’s important that the senior leadership of the
This video was brought to you by Rich Dormer. There are problems surrounding the management of purchased services that your healthcare organization needs awareness around. Namely, as Rich Dormer explains in the video above, it’s a manual process, it’s highly ineffective, and it heavily strains resources. Considering that 50%, on average, of an organization’s
This article was written by Lisa Miller. Where are the Hidden Cost Savings in Your Purchased Services Agreements? The Cost Savings are in Your Purchased Services Invoice Line-item Details Analyzed to Your Purchased Services Agreement What Are Purchased Services? Purchased services is defined as services that a hospital outsources to an outside company or consultant.
Practical Ways To Reduce Purchased Services Costs This article was written by Lisa Miller. Reduce purchased services costs Rising costs are prompting healthcare providers to revisit their labor and non-labor expenses. Learn how to identify ways to reduce purchased services costs. Hospitals are facing increased public scrutiny in light of skyrocketing healthcare costs. While many point
This article was written by Lisa Miller. Outsourced, insourced or hybrid services? What is the most cost effective model for your hospital to maximize profit and continue to deliver exceptional patient care? Outsourced services can account for up to 40% to 50% of your organization’s non-labor spend. While outsourcing is regarded as standard across the US
This video was brought to you by Lisa Miller and Rich Dormer. In this previously conducted LinkedIn broadcast, Rich Dormer and I discuss the three steps to taking a data driven approach in your purchased services, the strategies for cost management of purchased services, and the application of said strategies in two case studies.
This article was written by Lisa Miller. In a recent article, I outlined the four mission critical requirements that every hospital needs for effective management of your outsourced agreements. Access to your line item details is the first mission critical component. Purchased services – or your outsourced agreements – probably comprise around 50% of your hospital’s
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