Videos

Optimization is more important than innovation. Here’s why: It allows us to dig deep into an area and become a subject matter expert. We can see the nuances and pinpoint opportunities that we wouldn't see if we just said: “This project is done. Let’s move on.” In my experience, it's…

Why Your Benchmarking Needs To Be Smart? Healthcare Finance - Healthcare Finance To learn more about Why your benchmarking needs to be SMART, PLEASE click: https://www.thehealthcareleadershipexperience.com/ The video is showing Why your benchmarking needs to be SMART information but also try to cover the following subject: -Healthcare finance -Healthcare management…

Here are 6 ways hospital vendors are going to increase their margins: 1. Changing their list price book every year: Their 2021 list price book will look very different from their 2016 list price book for the same items. 2. Having internal pricing committees: They are going to use it…

Price transparency in the marketplace can become a competitive advantage for hospitals. If you want to discover more about Hospital Price Transparency you need to check out: https://www.thehealthcareleadershipexperience.com/ The video is presenting Hospital Price Transparency but also try to cover the following subject: -Cost Savings as a Competitive Advantage -Healthcare…

find out more about hospital cost savings, PLEASE click: https://www.thehealthcareleadershipexperience.com/ This video is presenting hospital cost savings but also try to cover the following subject: -Healthcare cost savings -How to Find 15% or More in Cost Saving Opportunities -Cost Saving Opportunities for hospitals -How can hospitals reduce costs? I'm going…

To find out more about physician engagement in cost savings PLEASE visit: https://www.thehealthcareleadershipexperience.com/ The video is all about physician engagement in cost savings but also try to cover the following subject: -Hospital margin management -Engage Physicians In Cost Savings -Hospital management -Why is physician engagement important? Here’s why our team…

Here are 3 things I’ve learned from Keith Cunningham: 1. Schedule thinking time: Pose a question to yourself that's either a challenge or something you want to improve on. Sit down in a chair with your favorite pen and book. Dedicate that time to think on that specific topic. 2.…

You can’t solve your cost problems by changing your GPO. Focus on these 2 ways instead: 1. Negotiate contracts: It’s important to have direct contracts with the vendors. Since you already have specializations, buying power, negotiation abilities, and pricing insights, you must directly work with a vendor and create a…

Internally managing spend analytics can help hospitals reduce costs. 2 reasons why: 1. Focused effort: Once you have this core competency within the hospital, you can have a staff whose job is 100% focused on identifying opportunities and pushing them out to different departments or people to be implemented. 2.…

We decided to re-do our website. Here’s why: We rely a lot on organic search traffic. We’ve spent much time and effort producing a lot of great content for hospitals and healthcare leaders. But we found out that our website’s theme was not ideal for Google search. So for the…

At VIE Healthcare Consulting, we’re constantly learning what the vendors are doing. So we already know what their strategy is. For example, I got an email this morning from a company that sells to vendors. It mentioned about 5 things they need to do to increase their margins. And that’s…

VIE Healthcare Review During Covid | Healthcare Management - Healthcare Humblebrag: We helped this independent community hospital produce almost $2 million in annual savings and recouped over $100,000 over incorrect payments to their billing in a span of ~6 months. In the midst of massive furloughs and layoffs in our…

“Take a hard look at where you are today. And then create a vision for where you want to be.” This is 1 of the 7 forces of business Tony Robbins shared in his Business Mastery program I attended virtually last week. For instance, a hospital may want to increase…

Here’s how I got the idea for our patent: A few years ago, we were working with a client in purchase services. Part of our process to identify cost savings is to look at the past 12 months’ invoices retrospectively, which would require us to have people typing in invoice…

Telehealth and hybrid care are incredible advancements in healthcare. Here are 2 examples from my life: 1. My mom had to have several hospital appointments throughout the pandemic, and we had to go with telehealth whenever possible. I could easily have these great discussions about what we need to do…

Our culture of always wanting to do things better is what separates us from other companies. Let me give you an example: In the area of purchase services spend, companies struggle with extracting invoice line item details, analyzing them, and gathering real insights. Yes, there are dashboards in the industry…

Up to 40% of hospitals and healthcare providers spend time manually chasing down information. Despite so many technological advancements, we still use paper to store information and have no means to extract the details digitally. Using AI and deep learning, we can pull out the data on paper and put…

At VIE Healthcare Consulting, we’re creating a centralized operation for purchase services. It’s important because: - 2 to 3% of purchase services invoices have errors, - 5 to 10% have off-contract spent, - The spent it decentralized, and - Manual reviews are inefficient. With our service, hospitals can now achieve…

The healthcare industry truly cares about people. In the past 3 decades, I’ve witnessed how the healthcare providers are so dedicated to: - solving complex healthcare problems - saving lives - improving the quality of life But for them to advance their mission, they need great products, innovations, equipment, and…

A recent win: A hospital approached us for some help with altering their staffing agreement. They knew that there was a 1-2% cost-saving opportunity. But they needed to finish the RFP in 48 hours. We took the challenge and decided to dig deeper by looking at their invoices for the…

Here are 4 cost-saving opportunities within outsourced physician services: 1. Review subsidy payments: You need to substantiate them with enough background information. You must also review them yearly because things may change within a year. 2. Risk assessment: Is it a shared risk agreement? Or is there no risk for…

Here are 5 main opportunities for cost savings within purchased services spend: 1. Reviewing the line item details on your invoices: You need to go back to the 12-month invoice line item details to understand their pricing. That way, you'll see details that matter for cost savings, like pricing errors…

Here are 3 cost-saving opportunities within physician preference items: 1. Cap the price: Whether it's in spine or orthopedics, the costs for any component or implant should be established at the same pricing to avoid fluctuations in physician preference items. Sometimes, certain specialized items don’t get benchmarked appropriately and end…

Hospital Budgeting for Finance Executives - Here are 3 main areas of cost challenges for hospitals: 1. Physician preference items: These are the implants and tools that different physicians prefer or are trained on when doing surgery. It is challenging for hospital budgeting. Different tools might bring the same benefit…