This video was brought to you by Bryan Covert.
Let’s discuss hidden fees and their financial impact on healthcare organizations.
Understanding your contract language in regards to hidden fees is important to actually realize the cost savings that your hospital is projecting. Click To Tweet
Often, when utilization needs to be projected for the implementation of new services (if historical utilization doesn’t exist) we find that revisiting certain agreements after a year or two shows that an “all you can use” model was not the correct choice and hospitals are overpaying because their utilization doesn’t actually match their original projections.
Upon renegotiating these contacts, it’s common that your hospital could be on a higher per-use cost than initially anticipated. However, this can lead to substantial overall savings for your healthcare organization because it better matches what you’re doing at your location.
Understanding your data when negotiating contracts is absolutely vital so that you can avoid these hidden fees and best set your organization up for cost savings success.
If you’re interested in learning how VIE Healthcare Consulting can help you better plan for your initiatives, book a complimentary consultation by calling our office at 1-888-484-3332, Ext 500 or emailing us at [email protected].