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4 Cost Optimization Tips to Close Your Healthcare Organization’s Budget Gaps

By Robert Yokl | September 22, 2020 | 0 Comments

There are very few – if any – hospitals, systems, and IDNs that haven’t been financially affected by the turbulent healthcare marketplace we all have experienced over the last six months. Even financially healthy healthcare organizations have budget gaps that need to be closed. Fortunately, these same economic forces have empowered supply chain professionals to […]

3 Reasons Why You Need to Demand Accountability from Your Group Purchasing Organizations

By Robert Yokl | September 15, 2020 | 0 Comments

Group purchasing organizations (GPOs) and consortiums have been a powerful force in controlling healthcare organizations’ labor and non-labor costs for decades. Yet, no one seems to question if these cooperatives really have saved what they have claimed to save. However, this “trust level” is changing as many healthcare organizations have been challenging their GPOs and […]

Manage Your Multi-Million Dollar Purchased Services Spend by Focusing on Contract Utilization, Not Just Price

By Robert Yokl | September 9, 2020 | 0 Comments

If you are a regular reader of this blog, you will know that I continue to preach that a price savings on your purchased services is a good thing, but to truly achieve big purchased services savings, by as much as a 10:1 ratio, you need to manage your contract’s utilization. By utilization I mean, […]

Targeting Supply Chain Expense Waste and Inefficiency in a Turbulent Economy

By Robert Yokl | September 1, 2020 | Comments Off on Targeting Supply Chain Expense Waste and Inefficiency in a Turbulent Economy

Given the current economic challenges that most healthcare organizations are facing, there is a renewed interest in targeting supply chain expense waste and inefficiency as hospitals, systems, and IDNs look for ways to balance their budgets. The reason for this uptick in exploring supply chain expense waste and inefficiency is that overall price savings have […]

7 Types of Healthcare Clinical Supply Utilization Misalignments You Can No Longer Ignore

By Robert Yokl | August 25, 2020 | Comments Off on 7 Types of Healthcare Clinical Supply Utilization Misalignments You Can No Longer Ignore

Clinical supply utilization misalignments (CSUM), or the wasteful and inefficient consumption, misuse, misapplication, or value mismatches in your healthcare organization’s supply streams, are a widespread epidemic in our industry. They represent 7% to 15% of your annual supply chain expense budget and generally can’t be seen with the naked eye. However, there are seven types […]

Innovative Clinical Supply Utilization Management Programs Help Healthcare Organizations Save Money Today and Prepare for Future Growth

By Robert Yokl | August 18, 2020 | Comments Off on Innovative Clinical Supply Utilization Management Programs Help Healthcare Organizations Save Money Today and Prepare for Future Growth

I think we all realize that we need to save more money today due to the effects of the 2020 pandemic to right our ship, but we also need to prepare for our healthcare organization’s future growth that requires even more effective supply chain expense controls going forward. We have found that the one innovative […]

Reduce, Reuse, and Recycle to Strengthen Your Healthcare Organization’s Financials

By Robert Yokl | August 11, 2020 | Comments Off on Reduce, Reuse, and Recycle to Strengthen Your Healthcare Organization’s Financials

The pandemic of 2020 has been a financial shock to any and all healthcare organizations. So much so, that The American Hospital Association estimates $120.5 billion in financial losses from July 2020 to year-end, on top of $202 billion between March and June of this year. These financial numbers were unavoidable, inevitable, and predictable, but […]

Podcast 58 – 4 Reasons Why Supply Utilization Savings Are Better Than Price Savings

By Robert Yokl | August 7, 2020 | Comments Off on Podcast 58 – 4 Reasons Why Supply Utilization Savings Are Better Than Price Savings

I was just made aware by my staff last week that they are now seeing annualized price savings for even the most contract compliant hospitals, systems, and IDNs that have shrunk to 1% to 2% from 2% to 4% of overall budget over the last decade. This is a startling change in supply chain economics […]

Three New Ways Supply Chain Professionals Can Save On Their Purchased Services Cost

By Robert Yokl | August 4, 2020 | Comments Off on Three New Ways Supply Chain Professionals Can Save On Their Purchased Services Cost

Purchased services management (PSM) is becoming a big topic of discussion now that all other hospital, system, and IDN’s supply contracts have been fully addressed. However, there has been one big misunderstanding regarding purchased services. That is that the only PSM savings that are available to a healthcare organization are only realized through price and […]

Unlocking the Power of Data Intelligence to Ensure Your Supply Expense Management Success

By Robert Yokl | July 28, 2020 | Comments Off on Unlocking the Power of Data Intelligence to Ensure Your Supply Expense Management Success

Most hospitals, systems, and IDNs are obtaining the best prices on the products, services, and technologies that they are buying, and they have substantially standardized on the commodities that they are employing. So where do they go from here to save money? The answer is to unlock the power of data intelligence to dig even […]

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