Supply Chain

The Importance of a Supply Chain Technology Strategy For Hospitals

Hospital IT, Supply Chain, The Business of Surgery /

The US Healthcare system lags behind the rest of American industries when it comes to using their supply chains as a competitive advantage.  Looking at Amazon, and its strategic use of its supply chain as a primary competitive advantage, highlights the differences between other industries and healthcare.  Amazon has invested billions of dollars to build […]

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Supply Chain Efficiencies and Process Redesign Top Survey of Cost Containment Strategies

Cost Reduction, Hospital IT, Supply Chain, The Business of Surgery /

Purchasing and supply chain efficiencies continue to be viewed as the primary ways to drive cost savings at hospitals. This is according to the recent survey titled 2017 HealthLeaders Media Cost and Revenue Strategies: The Need for Transparency and Understanding True Costs. According to the survey, respondents aren’t seeing any signs of diminished returns from

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Comparing Supply Tracking Technologies

Big Data, Cath Lab, Hospital IT, Operating Rooms, Radiology, Supply Chain, The Business of Surgery /

Why Explore Supply Tracking Automation? Hospitals and health systems in the US are typically generating annual revenues in the hundreds of millions to billions of dollars. Their profit margins are razor thin and getting squeezed tighter each day. Yet hospitals, and specifically their procedural areas like the ORs, Cath Labs and Interventional Radiology, are sitting

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How Your Medical Devices Can Tell You When They’re About To Expire

Big Data, Cath Lab, Hospital IT, Operating Rooms, Operational Efficiency, Radiology, Supply Chain, The Business of Surgery /

A recent survey conducted by Cardinal Health showed that 24% of hospital staff have seen or heard of an expired product being used on a patient during a procedure (original article here). This comes as no surprise, as we have witnessed the usage of expired inventory at hospitals first-hand.  Without the proper processes and vigilance

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How Big Data In The OR Saved One Health System Nearly $10 Million Last Year

Big Data, Cost Reduction, Hospital Finance, Hospital IT, Hospital Management, Operating Rooms, Supply Chain, The Business of Surgery /

Big data has been a buzzword in the healthcare industry for the past few years, but more often than not, the benefits of big data have been hard to quantify. Not so for St. Louis, Missouri-based Mercy health system.  Mercy has recently turned big data findings in the perioperative area of their hospitals into savings

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The Cost of Hospital Waste

Cath Lab, Cost Reduction, Hospital Finance, Hospital Management, Operating Rooms, Radiology, Supply Chain, The Business of Surgery /

Each year, the US healthcare system wastes $765 billion according to a 2012 National Academy of Medicine study. According to the same study, that total eclipses the annual budget of the Defense Department and the amount could be used to cover the insurance coverage of 150 million American workers. While the numbers are staggering, there

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Survey Reveals Top Priorities for Healthcare Supply Chain Leaders

Big Data, Hospital Finance, Operational Efficiency, Supply Chain, The Business of Surgery /

Recently, Global Healthcare Exchange (GHX) released its top priorities for healthcare supply chains in 2017.  The priorities were the result of a survey of 50 leading supply chain provider organizations.  At the top of the list was predictive analytics, with improved price accuracy between supplier and provider partners and standardized business processes/data across the organization

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Medical Device Makers to Partner With Hospitals to Achieve Triple Aim

Hospital Management, Supply Chain, The Business of Surgery /

As the Centers for Medicare & Medicaid Services (CMS) announce the expanded rollout of the bundled payment programs, including the Comprehensive Care for Joint Replacement (CJR) program, medical device makers are seeing an opportunity to expand their relationships with hospitals.  Johnson & Johnson, for example, recently announced its CareAdvantage program that aims to partner with

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How Operating Rooms Are Throwing Millions of Dollars Away Each Year

Cost Reduction, Hospital Finance, Hospital Management, Operating Rooms, Supply Chain, The Business of Surgery /

Disposable medical supplies are responsible for over 2,000 tons of physical waste per day, and they are making a huge impact on OR profits. A recent study by University of California, San Francisco noted that an average of nearly $1,000 of disposable medical supplies per procedure were wasted in their neurosurgical department. This equated to

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Increase Surgical Revenue – Part 2 of 3 (Documentation Improvement)

Cath Lab, Clinical Documentation, Hospital Finance, Hospital Management, Operating Rooms, Radiology, Supply Chain, The Business of Surgery /

Why is documentation so important for proper reimbursement for surgical procedures? In order to get properly reimbursed for a surgical procedure, you must be able to prove through documentation what you’re are trying to get reimbursedfor.  If you can’t prove it, then you will not get paid for it. Government programs such as Medicare and

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