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
The 4 Requirements for Outsourced Agreements All hospitals rely on outsourced agreements and services to deliver quality patient care, but they are complex, with financial and operational implications.In this new blog series, we will cover the four mission critical requirements to effectively manage your outsourced agreements (also referred to as purchased services).In this introductory article,
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
In our third episode, Lisa is joined by VIE Healthcare® team members Rich Dormer, COO, Bryan Covert, VP of Purchased Services Spend, and Pandu Mitre, Senior Business Analyst. Together, they discuss healthcare purchased services. As specialists in healthcare cost reduction strategies, we see that in excess of 30% of all healthcare purchased services invoices are
Defining Data Analytics for Hospitals This article was written by Lisa Miller. Table of Contents The following topics are thoroughly covered in this article: What is healthcare analytics? Examples of analytics in healthcare How analytics benefits providers, patients and payers How data analytics can support your hospital or healthcare systems’ cost savings and financial improvement goals
This article was written by Lisa Miller. Waste Reduction and Better Patient Care The growing issue of waste in healthcare recently hit the headlines. As I observed in this recent blog, a recent published study suggests that waste costs healthcare organizations between $760 billion to $935 billion each year – around a quarter of all
VBP Program Should Impact Supply Chain This article was written by Lisa Miller. Benchmarking is the third of the four mission critical components to manage your hospital’s outsourced agreements and uncover vital areas for margin improvement. In this article, I explain how to benchmark effectively for cost savings. The first component is gaining access to your
This video was brought to you by Lisa Miller and Sue Farkas. Optimizing the Operating Room In this video, Lisa Miller and Sue Farkas discuss the biggest opportunities to reduce costs in the operating room. Namely, the following: Standardization of products. Analyzing variability of resources. Reviewing service line profitability. Our operating room optimization process
Physicians Can Provide Quality Care at Lower Costs This research report was compiled by Lisa Miller. EXECUTIVE SUMMARY “Our goal is to empower hospitals to create the optimum patient experience, develop strong community partnerships, and build a unique bond between provider and patient.” Current US healthcare spending statistics are alarming. The Center for Medicare and
3 Causes for Hospitals Missing Out on Cost Savings This article was written by Carol Turano and co-authored by Lisa Miller. Almost one in five US hospitals are ‘in bad shape’ financially, or at risk of closure, a situation exacerbated as many hospitals are missing out on cost savings which could drive margin improvement. Most have
