Cover Story

How a Purchasing Collaborative Saved $10 Million in 3 Years

By Lola Butcher

Five likeminded health systems reaped significant savings by forming a purchasing collaborative within their group purchasing organization.

Case Study

Diagnosing the Numbers: How Boston Medical Center Engaged Physicians to Reduce Costs

By Brian Flynn, Phillip Dawes, and Lisa O’Connor

Engaging physicians in performance improvement efforts focused on coding and productivity helped one medical center turn a $34 million operating loss into a $2.5 million gain in two years.

Supply Chain Strategies

Knowing Where to Look in Cost, Utilization Data Can Curb Spine Implant Costs

By Joseph Jackson

One Midwestern health system identified $2 million in annual implant costs by hardwiring data gathering and analysis, benchmarking against other hospitals, and negotiating more effectively with manufacturers.

Labor Costs

Why Shorter Nurse Staffing Schedules Are More Efficient

By Chris Fox

Building nurse staffing schedules every four or six weeks—instead of every eight weeks—offers significant savings opportunities for hospitals.

Reducing Energy Costs

Using Energy Hedging to Manage Price Volatility and Avoid Costly Swings

By Christopher Janning, David Brayshaw, and Jordan Lee

Energy hedging programs can provide more accurate forecasts of expenses and profit margins while mitigating exposure to volatile energy markets.

Improving Value

Strategies for Improving Your Operating Margin

By Kimberly Neese

Healthcare leaders should focus on five key areas to reduce revenue leakage and add several percentage points to their operating margins.

Web Extra

Identifying Supply Chain Cost-Containment Opportunities

By John Orsini

Learn how Cadence Health reduced its supply expense per unit by roughly 2 percent last year.

Publication Date: Wednesday, June 11, 2014