In Episode 20 of The Healthcare Leadership Experience, Lisa Miller speaks with Lisa Larter of The Lisa Larter Group, Rich Dormer, COO, and Brian Covert, Managing Director of VIE Healthcare®️, on cost-saving pipeline opportunities for 2022.
Audiogram A:
Cost-savings pipeline can save hospitals money, but a strategy is just as important. It’s an opportunity to look at costs on a case-by-case basis and determine if the price makes sense and if there is a better price available—and therefore increase your cost savings.
Audiogram B:
When doing strategic pipelines, we look at the different areas that tend to work in silos, such as support services, administration, IT, HR, and find opportunities to negotiate the best pricing, best services, remove duplications and obtain the best deals for the healthcare organization.
Audiogram C:
There are three parts to a cost savings pipeline. First, it’s about getting the data organized. Second is getting specificity around the opportunities identified from the data. And third is prioritizing urgent issues in those opportunities.
Audiogram D:
Plan in advance to review cost-savings opportunities. Cost savings strategies are important now more than ever because inflation is here and will only get worse. As we go into 2022 and 2023, cost focus and expense focus have to be a number one priority. Now is the time you want expertise and specialization.
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