3 Structure Foundations to Improve Your Cost Implementing changes to improve your cost structure to realize savings must be a priority for healthcare leaders. As the US stands on the cusp of a new era of price transparency, healthcare costs rose to $3.6 trillion in 2018[1], while rural hospitals saw a record number of closures
This video was brought to you by Rich Dormer and Bryan Covert. Data Interpretation and Analyzation There are three major challenges that hospitals are facing in achieving cost savings: 1. Obtaining, Analyzing and Interpreting Data The issue behind this challenge for hospitals isn’t necessarily that they don’t know how to obtain, analyze and interpret data, but
This video was brought to you by Lisa Miller. Aggregate Spending Analysis In this video, we discuss why aggregate spend analysis and benchmarking from your agreement will leave money on the table and simply doesn’t work. Here’s an example. We had a client that asked us to look at their medical gas costs and
Improve Financial and Efficiency Performance in Hospitals This article was written by Lisa Miller. Enterprises across every sector are continually involved in the collection, processing, and analysis of massive flows of big data to improve efficiency and profitability. The healthcare industry, notably hospitals, is no exception as they attempt to balance quality health care delivery with
Innovation in a Pressured Environment This article was written by Lisa Miller. Innovation in healthcare is constantly changing and challenging the way in which hospitals operate but integrating that innovation into a pressured environment is a problem faced by many health systems. Healthcare ethnography can help your hospital to discover front line insights to transform
This video was brought to you by Denise Bisogno. Establishing Cohesive Partnerships In this video, Denise Bisogno discusses her role at VIE Healthcare, some of the most rewarding parts of being on our team, and our approach to achieving results for our clients. Denise began her career with VIE Healthcare Consulting in 2002, bringing over
Function on Narrow or Negative Operating Margins Research Report This research report was compiled by Jim Cagliostro. The COVID-19 pandemic exposed the danger of health systems continuing to function on narrow or negative operating margins. It has confirmed to healthcare leaders that, when hospital finances are under severe and constant pressure, there is minimal room
A Growing Concern for the US Supply Chain This research report was compiled by Sue Farkas and Jim Cagliostro. In 2019, it was predicted that supply chain costs would overtake labor expenses as the #1 cost in US healthcare in 2020. Already aware of this growing trend, health systems have long sought out new strategies
Healthcare Pandemic Guide – Post Recovery This research report was compiled by Jim Cagliostro. The COVID-19 pandemic has devastated countries around the world. From the overwhelming loss of life to record unemployment levels, the emotional and economic impact of this virus on the nation is unprecedented. But, it does not have to be the end
5 Components to Profit Losses in Hospitals This article was written by Lisa Miller. The push towards price transparency and value based care continues, placing additional pressure on already squeezed hospital margins. For organizations seeking additional strategies to drive margin improvement, here are 5 ways your hospital is losing money – and how to stop
This article was written by Lisa Miller. Physician Preference Items Physician Preference Items (PPIs) are defined as preferred supplies, instruments, implants or medical devices that physicians choose to use in patient treatments. Our three part blog series on Physician Preference Items (PPIs), outlines essential strategies for cost management in this key area, which are summarized
This article was written by Lisa Miller. Cost Savings With Physician Preference Items Successful supply chain management in 2020 requires a strategic, data driven management approach to cost savings. In this first part of our blog series on Physician Preference Items (PPIs), we will outline best practice to achieve those cost savings. Introduction Physician Preference
