Develop a Data-Driven Approach to Healthcare Supply Chain Management
Rising healthcare costs are a growing burden on many providers, making improved supply chain management an essential area for cost reduction. After labor, supplies are a healthcare organization’s second largest expense.
The supply chains for most healthcare organizations are vast and difficult to manage. However, with the right strategy and skills, your supply chain can become a reliable value generator. Investing in a focused, supply cost reduction initiative has helped our clients increase margins from 1 to 3 percent in net patient service revenue.
Rising healthcare costs are a growing burden on many providers, making improved supply chain management an essential area for cost reduction. An effective supply chain should reduce cost without affecting the quality of care. There are many ways your institution can enhance supply chain performance the right way, including careful cost reduction planning with data analytics, evaluating and upgrading controls in the purchasing cycle, and creating leading policies and processes to reduce inefficient spending and enhance clinical integration.
BKD Trusted Advisors™ can help your organization:
- Assess supply chain performance and purchasing cycle controls
- Benchmark purchase price and category spend to our proprietary IntelliSource® database
- Analyze procurement patterns to identify clinical variance, off-contract spend, utilization inefficiencies, and new technologies and equipment opportunities
- Evaluate preference/procedural cards
- Develop a value analysis program
- Assess physical supply chain, flow, and inventory management
- Develop key performance indicators to evaluate savings and supply chain performance
Successful healthcare organizations know the advantage of a high-performing supply chain and the value of continued investment. Our deep experience—paired with our commitment to providing Unmatched Client Service®—can help you implement sustainable improvements, increase savings, and position your organization for success.