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.The problem with traditional cost savings is that areas of spend and agreements are looked at only once every two or three years. Click To Tweet
And, unless a major red flag comes up, hospitals get trapped in this vicious cycle of cost savings with far too infrequent reviews of key opportunities to save money.
Contrast that approach against a proven cost management process and the discipline of looking at the line item details every single month to capture pricing errors or operational improvements to save money in real time, rather than a few years later.
It’s not hard to identify the better approach.
Learn more in the video above as well as how VIE Healthcare Consulting can help your hospital achieve its financial goals.
For a complimentary consultation, call our office today at 1-888-484-3332, Ext 500 or email us at [email protected].