Videos

In this video, Lisa Miller and Rich Dormer, discuss the differences between having a contract management system versus a contract performance system. We will discuss the key aspects and what to look for as you're measuring your contract performance. A lot of hospitals have contract management systems and they are…

In this video, Lisa Miller and Rich Dormer talk about healthcare purchased services. Our business at VIE Healthcare is based on finding and implementing opportunities. We have identified a gap in purchased services: the fact that it's so manual. VIE Healthcare is unique in that we have technology to speed…

In this video, Lisa Miller and Rich Dormer discuss hospital spend analytics. Decisions analytics is called that because we want to be aware of the end goal and the reason why we are putting data together. When you have that thought process and you collect the data, it's always about…

In this video Lisa Miller, CEO and Founder of VIE Healthcare will be discussing analytics and benchmarking. We look at benchmarking across all GPOs and hospitals that don't have a GPO. Our approach is that benchmarking is the norm and we want to exceed the norm. Learn more about our…

Here’s our zero-based budgeting approach for purchase services: In this, you need to validate every single line item spend in your department. It sounds like a massive undertaking. To find out more about Using Zero-Based Budgeting For Your Purchase Services Strategy please visit: https://www.thehealthcareleadershipexperience.com/ This video covers the following subjects:…

Cost Saving Strategy: Purchase Services Are Key to Your Cost Saving Strategy Hospitals must include purchase services under the supply chain. Here’s why: 1. Gaining more visibility on line-item details: Purchase services make up between 45-55% of a hospital's non-labor expenses. It's majorly department-driven. It’s the owners of the revenue…

We have the perfect solution for purchase services cost savings: It’s called the multi-year strategy for purchase services. Luis Martinez coins it. We’ve been talking about it for years, but he introduced me to this better wording in our recent podcast episode (liked below). The muti-year strategy is about managing…

Invoice reconciliation is crucial for purchased services cost management. When clients come to us to have their contracts reviewed and analyzed, I ask them for 12 months invoice. They are often surprised by this demand. But I tell them that to do this right; we need to carry out a…

How To Renegotiate Your Contract? Contract Renegotiation - Healthcare Management “How do I prepare for a purchased services RFP or contract negotiation?” 3 steps: 1. Get your 12 months’ utilization details: If you want a mediocre result, you can do spot-checking or get the information from your agreement or your…

“How do I begin identifying purchased services cost savings?” Here are 7 strategies: 𝟏. 𝐄𝐱𝐩𝐢𝐫𝐚𝐭𝐢𝐨𝐧 𝐝𝐚𝐭𝐞: If your contract is expiring in 9-12 months, you must look at it carefully. You need to understand your needs, the marketplace, and the overall cost structure and prepare yourself accordingly. 𝟐. 𝐂𝐚𝐭𝐞𝐠𝐨𝐫𝐲 𝐠𝐫𝐨𝐮𝐩𝐢𝐧𝐠:…

Do I think optimizing for 1-2% is more important than innovating to make quantum leaps? Yes and no. When we build the discipline of drilling down and maximizing all the opportunities: - We often end up getting 10-20%, not just 1-2%. - We learn the art of being a specialist,…

Here are 3 ways hospitals can tackle vendor rebates: 1. Set the right policies: You can have a policy where your CFO or COO just doesn’t accept rebates. You can ask for pricing on the invoice because rebates are hard to track and validate and require more manual work. 2.…

For many OR leaders, cost control is a strategic priority. The Operating Room accounts for up to 70% of a hospital’s revenue, between 55% to 65% of its margins, and 50% of a hospital’s costs – which makes the OR a foundational part of the financial success of a hospital.…

Here are 3 things hospitals can do to solve their cost savings problem on their own: 1. Thoroughly review your contracts and costs. Be committed to reviewing your top dollar to bottom dollar and everything in between. Even if you just renegotiated a contract or had something go through value…

Vendors can reintroduce the same product with minor enhancements to justify 20-30% price increase. Here’s how hospitals can stay ahead of it: 1. Put it in your contracts that similar items must be priced at the same price as before. 2. Set up a value analysis process for new entrants…

In this episode, Lisa Miller and Rich Dormer from VIE Healthcare Consulting are joined by John Reese, Senior Director of Health Solution at FTI Consulting. John has a wide range of experience with a focus on supply chain and expense reduction initiatives including pharmaceutical, IT, and other purchased services. John…

In this episode, Lisa is joined by Jacqueline Oberst, Business Intelligence Officer and Telecommunication & IT expert at VIE Healthcare. Jacquelin has worked with hospitals for over twenty years to help them effectively reduce their costs and she is the Author of The Total Telecom Management for Healthcare In this…

Multi-year Purchased Services Strategy | Purchased Services Categorization - VIE Healthcare Healthcare Supply Chain Series: Purchased Services Multi-Year Strategy with Luis Martinez | Ep.13 In this episode, Lisa Miller and Rich Dormer from VIE Healthcare Consulting are joined by Luis Martinez, Vice President of Supply Chain at Cornerstone Healthcare Group.…

Hospitals Need Flexibility With Their GPO | Group Purchasing Organization - VIE Healthcare GPOs hurt hospitals by limiting their decision-making. Here’s an analogy: Supposed you buy a home through a bank. But then the bank says that since you’ve bought the home through them, you must also get your cable,…

Vendors use internal pricing committees to delay hospital’s pricing requests. Here’s how to tackle them: 1. Set a deadline: You need to keep them to a tight deadline. It's the right thing to do because hospitals serve their communities and patients, and they must have these cost savings. 2. Include…

Best Way to Manage Vendor's Complex Pricing Structures - Healthcare Management Here’s how you can tackle vendor’s complex pricing structures: Ask for line item details for every aspect of your purchase. You can take the complexity out by: - putting the line item details in the contract - giving explanations…

Here’s one of the biggest cost challenges hospitals face: Vendors change their list price book every year. Even if they give you a discount, your cost goes up because that list price could go up by 10%, 20%, or 30%. That explains why you are paying $50 for something that…

Shoutout to Project33 for helping me create these videos. Their processes have made it very easy for me to share the things I see in the industry. Moreover, they’ve pushed me out of my comfort zone to share more about my personal life and what’s happening at VIE. It’s important…

Your Cost Savings Cycle Should be In 12 Weeks Sprints - Hospital Cost Savings Project Management You can learn about Hospital cost savings project management please click: https://www.thehealthcareleadershipexperience.com/ The video is showing Hospital cost savings project management information but also try to cover the following subject: -Hospital Cost Savings Project…