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 strategies.
- Links to external resources.
These comprehensive resources can be found on our dedicated COVID-19 Resources For Hospitals page.
In summary, we offer:
Department of Health and Human Services (HHS) COVID support page
FEMA Policy Guidance and Fact Sheets
FEMA’s Public Assistance Program and Policy Guide (PAAPPG)
Exclusive Webinars From VIE Healthcare®
Our webinars are designed to provide your health system with non-labor cost savings strategies to help you during, and through, COVID-19.
COVID Hospital Cost Savings Webinar
CARES Act Recovery Fund For Hospitals Webinar
Outsourced Service Provider Costs: How to Ensure These Costs are Managed and Monitored
Visit our dedicated COVID-19 Resources For Hospitals page.
COVID Recovery Response Blogs
Our blogs offer key strategies for hospital leaders to consider in response to the pandemic, including:
A summary of the launch of the CARES Act to reimburse providers for “healthcare related expenses or lost revenues that are attributable to coronavirus,” together with advice on how to secure funding.
Our four key strategies include:
- Ways to accelerate and maximize your funding solution.
- Creating a best practice for sustainable margin improvement in areas such as outsourced services.
- An effective supply chain cost management strategy as national median operating margins fell to -8%.
- Partner with a healthcare cost reduction specialist to create a cost savings roadmap to take your organization through and beyond the pandemic.
Our updated response includes the impact on staffing and the projected financial losses across the healthcare sector, with additional advice on:
- Claiming the funds your hospital is entitled to.
- Vendor contract management.
- Creating a Cost Savings Roadmap.
This blog offers additional cost management strategies, including:
- The need to incorporate Social Determinants of Health (SDOH) into your cost management strategy to create a ‘’patient first’’ culture.
- Leveraging spend data analytics. Data, not opinions, must drive decisions to enable you to get in front of your cost savings.
Additional Resources for Hospital Leaders
In addition to the above, we offer the following in-depth research reports:
A comprehensive post pandemic resource guide to help your hospital emerge in a stronger position with our three pillars of transition: clinical, financial and organizational.
“It is said that the true test of leadership is how you function in a time of crisis. Your teams look to you on how you will respond. As a leader, times like these require leading, listening and a lot of consistent, accurate, constant and transparent communication with your employees at all levels. It is critical to provide support, tools and resources needed by your teams. You need to be there with your team in the trenches to provide encouragement and hope to all that you will get through this crisis together and much stronger.”
– Marie Duffy, DNP, MSN, RN, Chief Hospital Executive, CarePoint Health – Christ Hospital (Jersey City, N.J.)
Resources Available at An Additional Cost
COVID-19 has exposed the vulnerabilities in the American healthcare supply chain. This report examines the current state of the US supply chain and its vulnerabilities. It goes on to consider the status of the nation’s emergency preparedness and offers proven strategies and solutions to consider in the context of COVID-19 and a post-pandemic era.
Schedule a call with Lisa Miller to create a sustainable cost management strategy for your hospital.