Episode Introduction Together, the team discuss the cost savings surprises of 2023 and look forward to 2024. Insights include the two-tiered approach to cost savings goals that all hospital leaders might want to consider, and why difficult vendor negotiations will continue in 2024. The team also review the potential impact of AI on cost reduction,
Episode Introduction Randy explains why there’s more to his role than ‘’bandages and gauzes’’, why people are the most important element of the ‘’three-legged supply chain barstool,’’ and highlights why patient care, decision-making and retaining talent are the top supply chain challenges. He also explains why it takes an eco-system to keep people healthy and
Episode Introduction Lisa outlines how getting to the line-item details in purchased services was the key to early success, the ‘what-if’ questions that led to patents, and why hospitals should never settle for 10% in savings when digging deeper might lead to 25%. She also explains why letting the data speak takes the emotion out
Your Journey to VIE Healthcare The first ‘a-ha’ moment to start VIE Healthcare came when I saved the materials manager of a hospital $250,000 in one specific area. Those cost savings were the result of a single casual conversation. From that moment I was hooked on identifying cost savings for hospitals and healthcare organizations. My
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 Lisa Miller and Rich Dormer. Supply Chain Conversation In this video, Lisa Miller and Rich Dormer discuss some of the challenges hospitals have in their supply chain. They’re responsible for patient care and for facilitating the necessary supplies and services to patients and hospital professionals. Whether they’re
How Much Do You Spend On IT To ensure that costs are managed effectively, your hospital must adopt robust strategies and learn how to manage your IT healthcare spend. Technology has the potential to drive healthcare forward, make it more accessible, improve operational efficiencies and enable your hospital to provide better patient care. However, barriers
This video was brought to you by Lisa Miller. Unnecessary Cost Extraction In this video, we discuss three ways to extract unnecessary costs in your purchased services spend. 1. Pricing Analysis It’s not just pricing within your GPO, but rather a pricing analysis that extends across the complete marketplace. You need to choose a
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
This video was brought to you by Lisa Miller. Telecommunications Conversation In this video, we discuss why it’s important for your hospital to consider conducting an annual telecommunications review. Here are three primary reasons: 1. Changes in the hospital With hospitals expanding, moving, closing down facilities, adding physician practices and other changes, it’s essential
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
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.
