Helping Your Hospital Save Money

In this video, Lisa Miller, CEO of VIE Healthcare, sits down to discuss how she recently helped a hospital save money.

A recent win and significant cost savings achieved. 

A hospital approached us for help with a staffing agreement and we were up for the challenge. 

They believed there was a 1-2% opportunity for cost savings within that agreement. 

The challenge for the team at VIE Healthcare®, was that the RFP for this project had a quick turn around time and had to be finished within 48 hours. 

While there was some cost data available, our experience tells us there are often bigger potential cost savings with more data.

To create a great RFP, we recommended reviewing all invoices from the past 12 months and running the data through our automated process.

A complete historical utilization means all of the spend is captured for the RFP. 

Within 48 hours we analyzed the costs and delivered the information to our clients.  

The result?

A 1-2% cost savings opportunity turned out to be a 9.7% cost savings opportunity.

This is how we recently helped a hospital save money.

This is just one example of how we exceed client expectations each and every day at VIE Healthcare®.  

We carry out a detailed cost analysis to uncover overlooked and hidden cost savings opportunities.

In this example, we tapped into the power of technology and spend data analytics to maximize the available cost savings for this hospital. 

But studies show that only 12% of healthcare organizations effectively use data analytics in hospital cost management.

Too many healthcare organizations are missing out on opportunities to drive margin improvement. 

At VIE Healthcare®, we work with hospitals to:

• Realize the cost-savings potential available in your spend data.
• Reduce spend across your supply chain. This includes Physician Preference Items (PPIs) and high-cost items utilized in the OR. 

Tap into the power of our innovative, patented technology Invoice ROI™ and find the hidden cost savings in your outsourced services agreements.

Reach out at lmiller@spendmend.com to discuss your cost savings goals and how we can support and accelerate cost savings opportunities in your organization.