After reading an article by David Shannon and Chuck Miller of Bain & Company about “Closed-Loop Savings Verification” processes (CLSV) in other industries, I discovered that this industry best practice also mirrored what is happening in healthcare. More and more, hospitals, systems and IDN’s CFOs are requiring their supply chain professionals to verify their projected savings on every savings initiative.
In my opinion, this is because too often savings are reported by supply chain management to CFOs that never hits their healthcare organization’s bottom line. To avoid this from happening at your healthcare organization, here are three powerful tactics to ensure your healthcare organization has a foolproof “Closed-Loop Savings Verification” process that works