Healthcare Cost Containment: June 2014
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.
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.
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.
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.
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