Purchased Services Benchmarking Concern

Purchased Services Benchmarking Is an Invoice Line Item Effort

Purchased Services Benchmarking Concern

In this audio, Lisa Miller discusses how purchased services benchmarking is a detailed process.

A method being utilized by benchmarking companies called Ratio Benchmarking is increasingly concerning.  The ratio comparisons are being used more frequently. It is not only ineffective in fact, it’s even misleading. 

Purchased Services analysis and benchmarking is an invoice line item analysis effort. Any other method will give you underperforming to poor results.

Learn about this important point in your benchmarking efforts in this audio.

VIE Healthcare has the only purchased services technology that extracts and analyzes your purchased services invoice line item details.

Hospitals utilize our Invoice ROI Technology for:

  1. RFPs
  2. Contract Compliance Reviews
  3. Contract Renegotiations for Cost Savings
  4. Line Item Benchmarking

Reach out to Lisa Miller at [email protected] to schedule a call and a no charge proof of concept to show you the results we are achieving for hospitals providing them with their purchased services invoice line item details.

“We have been overly impressed with VIE Healthcare’s approach to our purchased service agreements. We begin with a retroactive audit of our existing agreements and reconciliation of any discrepancies and overpayments through VIE Healthcare’s Invoice ROI™ Technology.

From there VIE Healthcare’s Invoice ROI™ Technology continues to review invoices regularly to help avoid any future discrepancies.

VIE Healthcare® has able to identify hundreds of thousands of dollars in discrepancies. Because they analyze invoices at the line item level, VIE Healthcare® have the ability to quickly take utilization and usage trends to produce RFPs allowing us to re-negotiate new agreements resulting in further cost reductions.

This includes consolidating contracts and service providers across multiple hospitals in different regions.” Luis R. Martinez, VP Supply Chain, Cornerstone Healthcare Group

 

 

Lisa Miller

Lisa Miller

Lisa Miller is a consultant, speaker, and podcast host. Her consulting firm, VIE Healthcare, has provided services to over 1,000 hospitals and organizations since 1999.

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DOWNLOAD FREE REPORT

Discover 15 Effective Cost Savings Strategies That Most Hospitals Can Apply Right Now

Learn how these five principles can help you reduce costs immediately.

VIE Healthcare 15 Effective Cost Savings Strategies Report Cover Image

A strategy developed from analyzing over 5,000 hospitals

A simple step-by-step plan in plain language

Proven processes to organize and motivate your team to find savings

We protect your information