The Business of Surgery

How One Health System Analyzes Physician Item Preferences To Boost Its Bottom Line

Springfield, Missouri-based Mercy Health has taken to data analytics to help understand the discrepancy in physician item usage in order to boost its bottom line. By using data to analyze the costs and usage patterns of physicians on similar cases, it has identified many opportunities to reduce supply costs and increase its profitability. Using data […]

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How To Save Hours A Week By Automating Your Daily Re-Order Process

The typical procedural area in a medium or large hospital spends hours per week generating the daily re-order list of their important supplies and implants. The typical procedural area, like a Cath Lab, EP Lab, Vascular Operating Room or Interventional Radiology Department, spends those hours doing manual, inexact tasks such as “eyeballing” inventory to find

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Survey: The Charge Capture Function At Hospitals Is Too Slow And Error-Prone

A new survey conducted by Sage Growth Partners and sponsored by Ingenious Med revealed that most hospitals still have a long way to go to clean up their revenue cycle and charge capture processes. The survey reached out to over 100 revenue cycle leaders at hospitals, 78% of whom believe that the charge capture process

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How One Tissue Manager Passed Their Joint Commission Survey

A customer recently relayed on to us their experience going through a Joint Commission accreditation survey. The tissue manager in the operating rooms of this particular hospital utilizes Mobile Aspects’ iRISecure system to track their tissue. She uses iRISecure to ensure the quality of documentation for patient safety and regulatory compliance. The Joint Commission (“TJC”)

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How A Health System Saved Over $70 Million Through Physician-Led Supply Chain Committees

Louisville, Kentucky-based Baptist Health has revealed that it has saved over $70 million dollars by taking a fresh approach to its supply chain. By focusing on clinically-led processes that include physicians in the decision-making, the health system has driven cost-savings that many can only dream of. Using physician-led councils across its various service lines, the

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Tissue Documentation Lacking? This Technology Can Help

In the past few years, we have heard the stories about surprise inspections from The Joint Commission (TJC) from many of our customers. The tissue managers and operating room administrators have all agreed on two points: 1) TJC, state Departments of Health and the FDA have all been focused on the tissue management and documentation

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Is Hospital Consolidation Driving Any Supply Chain Savings?

One of the key tools US hospitals are using to increase margins in today’s healthcare environment is consolidation. By merging operations with other regional hospitals or systems, many executives are looking to pad their margins through economies of scale. However, it appears that consolidation as a strategy to improve margins may not be working, at

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Average Hospital Spending $11 Million Annually On Supply Chain Waste

A recent study from Navigant Consulting concluded that hospitals across the US are wasting an aggregate of $25.4 billion annually in their supply chain, or $11 million per hospital. The amount of waste is up 10.2% from 2017. With hospitals increasingly focused on eliminating waste from their operations to increase profitability, the supply chain is

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Hoarding In The OR Is Costing Your Hospital Real Money

The hospital supply chain is increasingly being looked at as a way for hospitals to eliminate unnecessary spend. As hospitals continue on their journey from volume to value, the profit per procedure needs to improve in order for hospitals to remain profitable. As the place where most hospitals make and spend 50% of their dollars,

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US Hospitals Suffer Profit Drop For Second Straight Year

A recent press release from Fitch Ratings noted that not-for-profit hospital operating margins fell for the second straight year. The median operating margin in the not-for-profit hospital space was 1.9% in 2017, down from 2.6% in 2016. Even though balance sheets strengthened for the not-for-profit hospital sector in 2017, the drop in operating margins from

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