In Episode 21 of The Healthcare Leadership Experience, Lisa is joined by her producer, Lisa Larter of The Lisa Larter Group, and Rich Dormer and Bryan Covert from the VIE Healthcare® team. Together they explore why hospitals should consider engaging a healthcare consulting firm.
As Lisa comments: ‘’This is all about helping, supporting, and being in the background. We get the honor and the privilege to support… to be on the business side of healthcare, so they can be on the healthcare side…healing and saving lives.’’
This episode is sponsored by VIE Healthcare Consulting® which has proudly helped hospitals save $758 million since 1999.
In today’s episode you’ll hear:
The good rap versus bad rap of healthcare consulting firms. (Hint: Implementation is more important than a big binder).
Discover the competitive advantage of working with a boutique healthcare consulting firm, versus a big brand. ‘’We’re able…to be flexible.. to offer a customized approach…to be more innovative.. and we’re highly specialized. We focus on margin improvement and we have this incredible subset specialty around non-labor costs.‘’
How major brands outsource to specialized companies like VIE Healthcare® because they lack the expertise. ‘’ …if a hospital is really looking at managing costs, they need to be cognizant that if a bigger firm is outsourcing to a smaller firm…they’re marking those costs up.’’
Why VIE Healthcare® operate on a principle of making it easy to work with us – and why your consulting firm should reduce your workload and help you to achieve more.
The three levels of consultants, the one red flag when hiring a consulting company – and why your hospital’s success should be the consulting firm’s success. ‘’How do they bridge that gap from the binder, from the categorization, to developing real initiatives, to achieving real results?’’
The three essential client outcomes every healthcare consulting provider should deliver.
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MEET RICH DORMER
Healthcare Margin Improvement Expert, Chief Operating Officer.
Richard Dormer serves as VIE Healthcare’s Chief Operating Officer and Healthcare Margin Improvement Expert. In this role for over 13 years at VIE Healthcare, Rich identifies and implements dramatic cost savings for VIE’s clients. He has extensive expertise and knowledge of hospital expenses across the organization.
Rich’s specialty is high costs implants in the Operating Room and hospital Purchased Services, where he has worked collaboratively with VIE’s clients to save over $290 million during his tenure. Rich also specializes in hospital decision analytics and his ability to analyze big data sets to uncover true costs and cost savings opportunities is unparalleled in the industry.
Prior to joining VIE, Rich spent nine years with two equity sales firms on Wall Street. He applies the same analytical approach he learned on Wall Street to his work at VIE, and has become an expert in finance analytics for healthcare organizations.
Rich is also a skilled negotiator known for his ability to drive down contract costs without sacrificing services or quality. His sharp negotiating skills contribute to his expertise in the difficult areas of physician preference items and clinical preference services.
MEET BRYAN COVERT
Healthcare Margin Improvement Expert, Managing Director.
Bryan joined VIE Healthcare Consulting in 2012 and works alongside the top healthcare providers in the country carrying out high-level analytics and cost savings work.
Bryan’s strength lies in strong analytics skills which enable him to analyze and organize complicated data sets, identifying trends and true costs of VIE Healthcare Consulting’s clients. He is also skilled in working with pricing models to determine strategy and reveal underlying costs. He brings high-level negotiation skills and intelligent negotiating strategies for the benefit of healthcare organizations.
His experience extends across a wide array of contracting areas from IT and purchased services to physician preference items.
While working with VIE Healthcare Consulting, Bryan’s success stories include:
– Playing a critical role in driving over a dozen successful Spine implant cost savings initiatives. These included a detailed analysis of reimbursement, side-by-side vendor construct comparisons, and physician utilization/landscapes.
– Working with clients to navigate through very complicated EMR system renewals to drive six figure savings.
– Successfully renegotiating and transitioning a prestigious university and medical center from Coca Cola to Pepsi which generated over $5 million in savings over 10 years, including $700,000 in Year One.
– Helping to lead the transition team to re-design supply chain operations for a 459-bed health system moving from state-owned to private entity.
Prior to joining VIE Healthcare Consulting, Bryan gained entrepreneurial experience as the CFO of two successful start-up companies in the public safety sector. During this time, he helped to lead a start-up public safety company to a $2.5million dollar pre-revenue valuation in 2017.
Bryan graduated Cum Laude From Richard Stockton College achieving special distinction in the business program. He is also a certified NJ Tax Assessor.