We have an exciting update to share around business operations innovation in healthcare. In this video, Lisa Miller, CEO and Founder of VIE Healthcare, discusses how they create a centralized operation for purchased services.
There’s a lot of focus on clinical and care innovation in healthcare, but we believe it’s equally important to innovate on the business side.
We’ve partnered with several health systems to create a centralized business operation specifically for purchased services spend in the past year.
A centralized operation for purchased services is important because:
- 2-3% of purchased services invoices have errors.
- 5-10% of purchased services invoices have off contract spend.
- Purchased services can account for between 40-50% of your non-labor costs.
- Manual reviews do not identify errors or off contract spend.
- Line item analysis is the only way to uncover hidden cost savings opportunities in your purchased services invoices.
Management of your purchased services spend represents the most significant opportunity for cost savings in healthcare today.
Creating a centralized operation for purchased services operations can:
- Achieve extraordinary costs savings.
- Protect valuable revenue.
- Improve margins.
Business operations innovation is vital to healthcare.
Our proven, deep expertise offers healthcare organizations unrivaled insight into potential cost savings in your purchased services spend.
We deliver cost savings within weeks, not months or years.
VIE Healthcare® has a proven track record in healthcare cost savings innovation since 1999.
In my experience, every hospital needs a strategic plan for innovation.
Examples of our innovation include:
Invoice ROI™: Our proven, automated process enables your hospital to monitor line item costs in real-time and compare them to historical data to deliver actionable intelligence.
Healthcare Spend Analytics™: We deliver comprehensive spend data analytics to help hospitals maximize cost savings opportunities.
If you’d like to know more and learn how to innovate for cost savings in your purchased services spend, reach out to me today.