How to Plan for Cost Savings in 3 Steps This article was written by Pandush Mitre. In order to maximize margin improvement for your hospital, planning ahead for cost savings analysis is invaluable. In over two years working with hospitals and healthcare organizations for VIE Healthcare®, I have developed a simple three-step process that enables me
Improving Patient Flow This article was written by Jim Cagliostro. “Individual commitment to a group effort is what makes a team work, a company work, a society work, a civilization work.” Vince Lombardi Teamwork is essential to the smooth running of everyday operations at your hospital and critical to improving patient flow through your PACU. The
Auditing Lease Agreements Are you taking the time to audit your real estate lease agreements? They can often be interpreted as fixed or static, and many hospitals don’t immediately see any possibilities to reduce costs associated with them. As a result, real estate leases are often an overlooked opportunity for hospitals and their savings. It’s not
The Cost of Technology in Hospitals Electronic health records, online patient portals that allow patients to view their personal health information, make payments, and schedule appointments online, as well as the costs to upgrade and maintain these systems, are just a few contributors to significant increases in healthcare technology costs. 40% of US healthcare providers
Creative Change In Healthcare: Mergers and Acquisitions This article was written by Jim Cagliostro. If you work in healthcare, chances are you have experienced or will experience some sort of merger or acquisition. Changes with Medicare and Medicaid reimbursement and reporting, in addition to the push for increased coordination of care, has made system expansion the
Telecommunication Costs in Healthcare Here are a few thoughts on healthcare telecommunication costs which your organization needs visibility into:1. Just because your telecommunication costs are consistent each month does not guarantee that billing is accurate.2. Vendors provide details about services, pricing, contract terms and locations via a customer service report. This report may have a
Understanding HAD This article was written by Rich Dormer. For more than a decade, I have been working successfully with senior executives and key stakeholders at hospitals and healthcare systems within the United States in identifying areas to extract unnecessary costs within their organizations and then delivering upon these opportunities. During this period, the team
Patient Financial Experience Organizations must change the way they approach the patient financial experience. Why? There are a few major reasons for this: Patients are bearing the responsibility of a larger portion of their healthcare bills. Patients can’t afford to pay large hospital bills, at least not all at once. Healthcare billing is often confusing.
Pharmaceutical and Laboratory Tests Optimizations What are the important steps to optimize reimbursement for your high-cost pharmaceuticals and laboratory testing? Here are five keys: 1. Document and code. Verify that prescribing physicians have adequately documented the order in the patient chart and that the medical records department recognizes the order and uses the ICD-10 procedure
Hospital Utilization Process This article was written by Lisa Miller. We’re concluding our series on improving your hospital utilization process. If you haven’t already, be sure to read part one and part two. Take Stock of Your Pharmaceuticals Biologics extend to pharmaceuticals, although most drugs are chemically synthesized. In either case, it’s been our experience that most drug
Tips for Lucrative Cost Savings This article was written by Lisa Miller. We’re continuing our series on improving your hospital utilization process. Click here for part one. Here’s our next set of tips for you to consider. Compare High-Cost Implants with Implant Audits Compare your costs to your services and contract terms. For instance, match the
Opportunities To Reduce Your Costs This article was written by Lisa Miller. Finding opportunities to reduce your hospital utilization costs brings major cost savings, but chances are your GPO or private consultant would rather not attempt it because it’s time-consuming and requires expertise in certain specialized areas. Despite the potential cost savings it adds to
