In Episode 28 of The Healthcare Leadership Experience, Lisa is joined by Lisa Larter from The Lisa Larter Group to discuss current trends in healthcare.
As Lisa observes: ‘’…in purchased services the …whole approach has been, how do we place purchased services in a box? Well, I'm here to tell you it's not easy,…because…. all your spend is on your invoices.’’
This episode is sponsored by VIE Healthcare Consulting ® which has proudly helped hospitals save $772 million since 1999.
In today’s episode you’ll hear:
The big winners who stayed focused on financial performance throughout the pandemic and saved millions of dollars ‘’…they pushed through industry norms and were okay with being uncomfortable.’’
The reasons hospitals partner with VIE Healthcare® to save money, including:
• Benchmarking reveals the financial gaps they want to close.
• The need to find new areas to optimize spend in their deficit.
• When executives need a reset on contract spend.
The warning signs that indicate a cost management issue. Hint: Unexpected vendor price increases are a challenge.
How psychology gets in the way of high performance – or to quote Tony Robbins, ‘’… they either have a strategy problem… or a psychology problem.’’
Why there is more to identifying cost savings in purchased services than categorization and ratio benchmarking. ‘’The reality is purchase services is a roll up your sleeves, , digging into 12 months of invoices. …it has to be a line item approach.
The power of a self-contracting strategy for healthcare organizations. ‘’GPO pricing may not always be the best pricing. When it comes to PPIs, high cost supplies and purchased services, hospitals will do better self-contracting.’’
Discover the technology that gives every healthcare executive access to their line item details.
The Healthcare Leadership Experience is going live on Healthcare Now Radio in 2022! Stay tuned to learn more!
Discover the benefits of launching your own hospital podcast. Listen again to Episode 27 of The Healthcare Leadership Experience.
