June 14

Clinical Supply Utilization Management Can Help You Spend Less

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We all know we need to spend less in this inflationary environment so we can save money, but how do we actually do it? The good news is that Clinical Supply Utilization Management (CSUM) is the answer. Specifically, here are three ways it can help your healthcare organization spend less:

How Clinical Supply Utilization Management Can Help Your Organization Spend Less

1. Identify Waste and Inefficiencies in Your Supply Streams. Once a product, service, or technology is bought, supply chain has no idea how it is being employed. That’s why hundreds of thousands of dollars are wasted annually due to misuse, misapplication, and value mismatches residing in your supply streams. All you need is a CSUM system to identify where they are located, so you can remove them.

2. Uncover Unseen Quality Issues That Are Costing You Money. If you are changing your IV sets more often (or consuming more) than is medically indicated, you are creating a situation where your patients could be at risk of infections. How would you know this is happening without a Clinical Supply Utilization Management System? Check out a three minute video that will explain this concept in greater detail.

3. Gain Insight Into Your Consumption Patterns. It should be your goal to observe changes in your product, service, or technology consumption patterns before they become a drain on your supply budget. Nobody cared when exam gloves were $0.03 to $0.04 each if a few gloves fell out of the boxes on the clinical floors. Fast forward to today where these gloves now cost $0.16 to $0.20 each and gloves falling out of their holders is a major dollar waste. One system found that they were wasting up to 30% of exam gloves because they were falling out of the holders/boxes. They were able to curb this and saved over $900K annually.

It is the consensus of all the leading economists today that prices are going to go higher before they level out over the next few years, which means to lower your hospital, system, or IDN’s supply expenses the consumption of products, services, and technologies will need to be constrained. We can’t think of a better way to do so than adopting a CSUM system. Don’t you think it’s time to travel the road less traveled?


Below are some similar articles that you may find interesting. 

3 Powerful Strategies for Dealing With Your Healthcare Organization’s Rising Supply Chain Costs

Digitalize Your Healthcare Value Analysis Program for Better Results

Purchased Services Contract Mistakes to Avoid


Request Demo of SVAH’s Value Analysis and Utilization Tools


Tags

clinical supply utilization, healthcare supply chain, Healthcare Value Analysis, hospital supply chain, Hospital Value Analysis, supply expenses, supply utilization, utilization management


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