Hospitals can't avoid costs - they have to purchase supplies, pay their employees, and fulfil contracts with their partners. But they do have a say in how they manage these costs, and their approach can make the difference between positive and negative margins.
Successful cost management requires you to evaluate expenses, determine how they affect care value, and identify which (if any) are unnecessary.
How we help
Most organizations have an opportunity to improve overall cost management by making improvements in four areas: physician-driven variation, labor costs, supply purchasing, and education on cost discipline.
- To address these opportunities, our consultants work with hospitals around the country to:
- Reduce total cost per episode
- Optimize spend performance
- Improve workforce efficiency
- Reduce clinical variation
- Our approach
We treat every consulting engagement as a partnership, and we make it our mission to arm your team with the knowledge and skills needed to continue making progress long after our exit. Our standard partnerships typically include the following phases:
- Procurement experts and comprehensive supply chain consultancy: We start by assessing your current operations and expenses, from supply spend to clinical workflows. Then, we'll help you develop a blueprint for managing expenditure - whether through cost cutting or strategic optimization - that doesn't sacrifice value or performance.
- Individual procurement and supply chain services: When you're ready to put the blueprint into action, we're there to help with the heavy lifting. We provide the executive, operational, and clinical resources needed to execute improvement initiatives, fill gaps in expertise, increase capacity, or all of the above. Our proven interim management approach allows us to quickly and positively impact your performance.
Evolving strategies to grow and compete is an essential component of The Care Equation.