This video was brought to you by Rich Dormer and Bryan Covert. Controlling Costs and Physician Preference Items Some recent trends we’ve seen at VIE Healthcare Consulting, especially in total joint orthopedics, includes the usage of new materials for the same component. In the case of total knee replacement, we’re seeing the traditional plastic liner
PPI Optimizations Physician preference items (PPIs) are often comprised of the most expensive products ordered by hospitals and can have a negative impact on your hospital’s operating margins. In this blog, I outline 5 key steps to physician preference item optimization. The True Cost of Physician Preference Items The most successful healthcare organizations know how
Understanding the Clinical Financial and Operational Terms Understanding the clinical, financial and operational terms is the second of the four mission critical components essential to manage your outsourced agreements and identify vital cost savings for your hospital. Most of the time, we find that hospitals instinctively want to begin with benchmarking, but this is the
Outsourced Service Provider Costs: How to Ensure These Costs Are Managed and Monitored Lisa Miller hosted a webinar in association with the American Hospital Association to highlight the most effective ways of managing and monitoring your purchased services provider costs. Every healthcare organization depends on outsourced agreements to enable them to deliver quality patient care.
Outsourcing For Your Hospital Optimization For hospital leaders required to deliver margin improvements, generate more revenue and provide value based care, hospital outsourcing can be an attractive solution. Before making that decision, I advise reviewing my 7 steps to optimize outsourcing in your hospital in order to ensure high performance from your providers. Outsourcing is
Linking Analytics to Quality Care The storage, processing, and analysis of big data plays a significant role in the decision-making process in many of today’s industries. The healthcare sector, notably hospitals, must effectively capture and process big data with analytics to achieve higher quality patient care through new technologies. As a result, data analysis plays
Quality Financial Outsourced Providers Ensuring quality and financial high performance from outsourced providers is kind of like making a spanakopita from scratch—when you don’t have the recipe or guidance from a master (or even know what it is. Google it.) One word—disaster. Following these steps will make it easier to execute. It’s important that the
Improve Your Hospital Financial Performance A thorough guide on the steps your hospital can take to improve its financial performance and reduce costs. Table of Contents: Focus on reducing overall spending. Maintain a competitive edge. Utilize green initiatives. Keep readmissions down. Avoid wasteful testing and supply use. Enhance patient satisfaction. Make smart investments in health
Am I Spending Too Much? This video was brought to you by Lisa Miller and Rich Dormer. In this video, Lisa Miller and Rich Dormer discuss bundled payments and revenue strategies and the importance of a profitability analysis. “Am I spending too much?” This is a question virtually everyone asks themselves both personally and
This article was written by Lisa Miller. Cost Effectiveness Outsourcing and Insourcing Outsourced, insourced or hybrid services? What is the most cost effective model for your hospital to maximize profit and continue to deliver exceptional patient care? Outsourced services can account for up to 40% to 50% of your organization’s non-labor spend. While outsourcing is regarded
5 Strategic Profitability Improvements For Hospitals This article was written by Lisa Miller. Financial pressures remain a challenge for many health systems.1 As hospital leaders look for more effective ways to implement effective long-term cost savings across their organization, we suggest five ways to improve profitability in your hospital. They are: 1. Administrative costs The
3 Bundled Payment Strategies This article was written by Lisa Miller. As the healthcare sector continues to explore its options for payment models, bundled payments are becoming more popular. To maximize profit from this type of payment model, I recommend three overlooked bundled payment strategies that I discuss below. The Rise in Popularity of Bundled
