Two of the most important aspects of providing healthcare are the quality and safety. If either of those are missing at a facility, the care of the patient is compromised. Additionally, as patients become more educated and vocal, finding a facility that meets those demands is critical to its success.
Below is an article from modernhealthcare.com where Industry experts share personal stories explaining how the U.S. has a long way to go on quality and safety when it comes to the healthcare system. After reading the article, give us a call at SpendBridge so we can assist you with any of your procurement or accounts payable needs. Enjoy the article.
Source: modernhealthcare.com | Re-Post SpendBridge 4/19/2018
Many people have harrowing stories to tell about their encounters with the U.S. healthcare system, involving issues of quality, safety or cost. That’s particularly true for physicians and other healthcare insiders, who can spot problems that a layman might miss.
“Every health policy person, especially doctors, has a story or multiple stories to tell,” says Dr. Robert Berenson, a fellow at the Urban Institute and former member of the Medicare Payment Advisory Commission. (more…)
Micro-hospitals are being constructed all over the country and are targeted at communities that fall in the gap between a large hospital and an emergency room. This is a smaller version of a full-service hospital in neighborhoods that have specific medical needs but lack the necessary facilities and resources to support a full-service facility.
Below is an article from usnews.com that describes what a micro-hospital is and the many benefits it can provide. After reading the article, give us a call at SpendBridge so we can assist you with any of your procurement or accounts payable needs to streamline your processes in your facility type.
Source: usnews.com | Re-Post SpendBridge 3/22/2018
SMALL-SCALE INPATIENT facilities, known in the industry as micro-hospitals, are popping up across the country to offer medical care in underserved communities and provide a local alternative to the potentially long waits for emergency care at major hospitals.
The size of small ambulatory-surgery centers, micro-hospitals have an average of eight to 10 short-stay beds each and provides some of the simpler acute and emergency services commonly performed in much bigger hospitals. (more…)
As healthcare costs rise, missed appointments become more expensive for hospitals to absorb. To assist patients in making their appointments, hospitals and doctor’s offices are looking for ways to assist patients in meeting their appointments. Additionally, this benefits the patient for consistency in their treatment.
Below is an article from theatlantic.com that describes a creative way hospitals are making it easier for patients to avoid missing their appointments. After reading the article, give us a call at SpendBridge so we can partner with you implement creative cost-saving solutions in your Accounts Payable and Procurement departments within your organization.
Source: theatlantic.com | Re-Post SpendBridge 3/7/2018
The ride-sharing company Uber is launching a new service that will allow hospitals and doctors to book rides for their patients.
The new Uber Health dashboard, which has been tested by a beta group of about 100 hospitals and doctors’ offices since July, will allow medical and administrative staff to either call an Uber to the office to drive a specific patient home, or to dispatch an Uber to the patient’s house, with the option to schedule it up to 30 days in advance. The patient need not have the Uber app or even a working smartphone: The dashboard comes with a printable sheet allowing a doctor to circle the incoming Uber’s car color and write down the license plate. (more…)
Determining what the cost of a medical procedure can be very challenging. However, with rising costs, people are finding it necessary to “shop” various providers to find the lowest price for the service they need. Research estimates pricing failures from the lack of transparent information on health care costs contribute more than 14 percent to waste or inefficiency in today’s health care spending.
Below is an article from healthcaredive.com that describes the need for transparency to lower waste and the discrepancy between facilities for the same procedure. After reading the article, give us a call at SpendBridge so we can discuss how we can help you to better manage your accounts payable and procurement process allowing you to provide the best service to your patients.
Source: healthcaredive.com | Re-Post SpendBridge 2/19/2018
New research released by the Minnesota Department of Health finds wide swings in prices for several common medical procedures.
While the average cost of a total knee was $23,997, prices paid to Minnesota hospitals ranged from $6,186 to a high of $46,974 — an eightfold difference. The lowest to highest prices for cesarean section deliveries — $4,693 versus $22,831 — represent a five-fold difference. (more…)
Healthcare organizations continually seek to find ways to reduce costs. One of those ways is through mergers. These transactions allow companies to use the expertise of each organization to reduce operating costs and then pass the savings on to their customers.
Below is an article from healthcaredrive.com that describes the various mergers that have been announced over the last few weeks and the impact it can have on healthcare providers and users. After reading the article give us a call at SpendBridge so we can work together to implement practices at your healthcare facility to take advantage of the positive impact from these mergers.
Source: healthcaredive.com | Re-Post SpendBridge 2/1/2018
If done well, the recently announced string of vertical and horizontal integrations could lower costs across the board. The execution required to achieve that, however, is complex and takes time.
December saw a flurry of merger activity underscoring a sense of desperation within healthcare. (more…)
In just a few decades the United States has gone from spending about the same that of peer nations to spending almost twice as much on health care, as a percentage of its economy, as other advanced industrialized countries. This is prompting people to ask why the dramatic change? After reviewing the data, it appears that more is done for patients during hospital stays and doctor visits, they’re charged more per service or both.
Below is an article from nytimes.com that evaluates the increase in spending that the United States spends on healthcare versus other advanced industrialized countries. After reading the article give us a call at SpendBridge so we can help you manage the healthcare costs at your facility that will allow you to provide the best care for your patients.
Source: nytimes.com | Re-Post SpendBridge 1/15/2018
The United States spends almost twice as much on health care, as a percentage of its economy, as other advanced industrialized countries — totaling $3.3 trillion, or 17.9 percent of gross domestic product in 2016.
But a few decades ago American health care spending was much closer to that of peer nations.
What happened? (more…)
A strong partnership between a provider and a supplier is critical for a healthcare facility to deliver the best care for the best price to their patients. This can be done most effectively when the providers and suppliers work together and where the value is more important than just the bottom line price.
Check out this article below from jhconline.com that explains the benefits of Purchasing Coalitions and how they can be used by Supply Chain Managers to not only lower costs of healthcare products but to help decrease the length of stay and bring quality products at the most economic value. After reading the article, give us a call at SpendBridge so we can meet with you to set up the best supply chain process for your healthcare facility.
Source: jhconline.com | Re-Post SpendBridge 10/30/2017
Purchasing coalitions are more relevant today than ever as they evolve to meet and support the expanded role that supply chain leaders are playing. Although purchasing coalitions may have initially formed in order to aggregate spending to drive down pricing, these groups now focus on far more advanced initiatives, according to supply chain leaders who spoke on a panel at this year’s Association of National Account Executives meeting.
“It is not just about bottom-line savings today,” said Kim Moon, director of supply chain for Tucson Medical Center, part of Vizient’s West Coast Purchasing Coalition. “We have to look at healthcare across the continuum of the patients’ lives and we need suppliers to partner with us to drive down the length of stay and bring quality products at the most economic value.” (more…)
In most healthcare facilities, supply chain represents 30% of the hospital’s operating budget. This is only second to the cost of labor. With the significant portion of the budget going to supply chain, there are many opportunities for cost savings when supply chain is managed properly.
Below is an article from healthcarefinancenews.com that details the importance of the supply chain manager and their involvement in the budget process as well as the analytics associated with the decisions made during strategic planning. After reading the article give us a call at SpendBridge so we can discuss the best way to manage your supply chain to maximize your facilities operating budget.
Source: outlook.office.com | Re-Post SpendBridge 10/13/2017
Hospitals are spending about $10 million more a year in the supply chain than is necessary, according to a new Navigant study.
The study looked at 2,300 hospitals and their supply spend and found the providers could reduce their annual supply budgets by a total $23 billion, or about $10 million per year, per hospital, according to Alven Weil of Navigant. This is a savings of about 18 percent.
Cost management is one of the biggest challenges healthcare facilities face. However, according to a recent survey of healthcare executives, few have a reduction goal or plan in place. As the industry migrates to value-based care and value-based reimbursement, cost containment becomes an even higher priority.
Below is an article from revcycleintelligence.com that describes the areas where the most impact can be made to managing costs. Those areas are labor, supply chain, and revenue cycle optimization. After reading the article, give us a call at SpendBridge so we can guide you to a successful plan to create and reach your cost reduction goals.
Source: revcycleintelligence.com | Re-Post SpendBridge 10/4/2017
An overwhelming majority of healthcare executives (96 percent) stated that cost transformation is a significant need for their hospital or health system. Yet, over one-half of organizations either do not have a healthcare cost reduction goal or have a small goal that will not transform cost structures, a recent Kaufman Hall survey showed.
One-quarter of over 150 senior executives in hospitals and health systems stated that their organization has no target for decreasing costs.
Single hospitals were most likely to have no healthcare cost reduction goal, with over 40 percent stating that this was the case. (more…)
Having a strong leader is a key component to being successful in most industries. Supply Chain Management is no exception. Strong leaders must have the ability to make predictions and quick decisions. Predicting and reacting create opportunities that would otherwise be missed.
Check out the article below from beckershospitalreview.com that gives details on the qualities needed to be a leader in the supply chain management industry. After reading the article, give us a call at SpendBridge so we can discuss ways for your business to identify strong leaders to help your business grow.
Source: beckershospitalreview.com | Re-Post SpendBridge 9/19/2017
You have adopted an innovative mindset and are thinking outside of the box about supply chain management– what’s next? Execute.
Continuous improvements and innovation are essential for hospitals to survive in today’s healthcare industry, but they will not become long-lasting without the right leadership. Hospitals need strong, consistent leaders across all departments to ensure those improvements and innovations become a part of the mold. Leaders need to serve as playmakers; they must think boldly and expansively about the problems facing hospitals. Although these individuals may be hard to find, they are an essential component for effective supply chain management. They create momentum and inspire confidence. (more…)