Every day, hospital leadership faces increasing pressure to cut costs without impacting patient care, and to find new sources of savings. Why? Because payments from sources like Medicare and Medicaid are in ongoing decline while operating expenses continue to climb. You’ve found areas to save, often successfully – from supply chain and salary management to process improvement and buying partnerships, leading to greater efficiencies. Still, you’re struggling to control overall costs.
But there’s a virtually untapped area where you can uncover new savings – one that often makes up 40% of your operating costs – and that’s purchased services. Purchased services may encompass up to 600 categories of outsourced spend. Your housekeeping staff, ambulance services and office supply vendors are just a few examples of the services you require – local services that are outside the purview or expertise of your GPO. We guarantee that within your current system of managing purchased services contracts, powerful efficiencies are possible.
Medpricer is here to help. Medpricer is leading the discovery of new sourcing solutions for purchased services. With a staff of sourcing experts and a software solution specifically designed to log, organize, negotiate and report solely on this segment of your costs, we can help you generate 24% savings per purchased services contract. Imagine 40% of your operating costs reduced through significant and repeatable savings – savings that could reach into the millions.
Our solutions also mean better visibility into how your purchased services are allocated, and how they’re performing. Ultimately, this leads to you and your leadership team having more confidence that your organization is using purchased services to complement your busy staff, and to serve patients in the best possible way.