Savings Beyond Price™
Innovative Supply Savings and Quality Solutions That Work
by Strategic Value Analysis® in Healthcare
Did You Know...?
That Value Analysis Was Developed Back In the 1940's After World War II as a Way to Find Lower Cost but Higher Quality Alternative products and methods. This was Due to the Lack of Material Resources At The End of The War.
Savings Beyond Price -Weekly eNewsletter - August 26, 2010
Robert T. Yokl
President & Chief Value Strategist
Times are Tough - Don’t Wait to Automate
Greetings,
As I read our trade magazines I see that there is a new round of lay offs and cost cutting at our nation’s hospitals as healthcare organizations anticipate and then react to the negative affects of the new healthcare reform bill. Yes, your hospital will be getting a boat load of new patients under this bill’s new provisions, but at Medicaid rates which are already too low to support your cost structure. And then there are the new quality mandates (e.g. 30-day readmission penalty, electronic medical records, and medical errors payment rejections) that will put a dent in your revenues even if you do everything right.
One of our clients told me that her CEO told his department heads and managers recently that he expects them to save 5% over the next three years just to keep their boat above water. So times are tough all over, but don’t wait to automate if you are to weather this perfect storm (the great recession. new healthcare reform bill and push backs in reimbursement from all third-parties).
As I have suggested, I believe that one of the answers to this big challenge is to automate every hospital business and clinical process, including all supply chain activities, so healthcare organizations can reduce their operating cost to the bare minimum. We are working with a healthcare system at this time that is doing this very thing. This included automating everything in their supply chain to radically improve their productivity, performance and profitability before their new Medicare, Medicaid and insurance rates shrink considerably over the next few years.
The motivating factor to do so is that automating (MMIS upgrades, dashboards, spend and utilization managers, EDI, bar coding, hand-held devices, etc.) your supply chain functions beyond where they are today is self-funding. This means your hospital, system or IDNs return-on-investment in new and better supply chain technologies will be less than one year.
My point here is that “sometimes it takes a little money” to save a whole lot of money. To do nothing or to nibble around the edges of automation is a formula for disaster. So don’t wait to automate!
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. One area of automation that we have found to be invaluable for dramatically improving supply chain operations are dashboards. I talk more about this in my article “ Too Much Information – Think about a Dashboard” from our archive of 400+ articles. Please check it out!
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