Some of the most significant hospital supply expense savings opportunities are within your grasp if you employ the time-tested tenets of benchmarking. Every supply chain professional knows and talks about benchmarking, but very few do it effectively.
Increase Your Hospital’s Supply Expense Savings
The best part about benchmarking is that you can drive your hospital’s supply expense savings higher without even leaving your desk. This has been our experience over the last 25 years when we have conducted thousands of benchmarking studies for our clients using our Utilizer® Dashboard which has opened up a whole new world of savings for them.
Find Benchmarking Partners
One of the key elements that we have found that is holding back effective benchmarking in healthcare today is the lack of benchmarking partners. Yes, we know that every hospital belongs to one or two benchmarking services but the benchmarks that are provided by these sources are, for the most part, at the 30,000-foot level which are meaningless to supply chain professionals. However, these are services, not partners – there is a difference!
To effectively benchmark with a real impact on your bottom line, healthcare supply chain professionals need benchmarks at the SKU (stock-keeping unit) or ground level to have meaningful and actionable results. These customized benchmarks can best be developed with partners from your own national, regional, or local GPO membership. Or, you can sign up with a supply chain benchmarking specialist who already has the relative data to compare your hospital, system, or IDN at the SKU level with your peers to make your benchmarking job as easy and hassle free as possible.
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