The economics of supplies
December 03, 2012
Brian White
Brian White
It's a challenging time for hospitals, but it's also an exciting one. Harsh economic realities demand new ways of thinking about how to deliver the best possible care. We have witnessed several hospitals and health systems implement innovative cost-savings measures that free up resources, which can be reallocated to initiatives that may improve patient care. In many cases, these examples are about looking hard at the economics of medical supplies to identify savings opportunities. To give others a look at tomorrow's best practices in supply chain management, we've devoted this column to hospitals that are finding ways to positively impact their bottom lines.
The hospital perspective on supply costs
A recent survey on supply chain issues by Modern Healthcare found that 80 percent of provider executives are focused on reducing supply costs as part of their strategic plans. So, where are there specific opportunities to reduce supply spending while achieving positive patient outcomes? We asked hospitals.
Mary Roberts, St. Joseph Health: "We are looking at the big picture. St. Joseph has an ever-present goal to deliver perfect care to our patients, and from an operations standpoint, that means making sure our processes are as efficient and financially sound as possible in order to allocate the greatest share of resources to patient care."
Francisco J. Perez Gil, MD, Centro Cardiovascular Hospital San Lucas: "It's becoming more important than ever to find innovative solutions to provide optimal patient care and remain profitable. My practice in the EP lab has been running a successful SUD reprocessing program since opening in 2008. In 2011, the lab saved more than $152,000 through reprocessing, and is on track to increase savings for 2012-all with no adverse impact on patient care. The benefits are so strong, I wonder why any hospital would choose not to reprocess."
Some hospitals are choosing to leverage their collective bargaining power to realize supply savings. Participation in group purchasing organizations (GPOs) is up, and more than 50 percent of U.S. hospitals now belong to integrated delivery networks (IDNs).
Suppliers' role
Perhaps just as important as how hospitals are addressing supply chain costs in their strategic plans is what suppliers are doing to address the costly investments HCPs are making in the latest medical technologies. At Stryker, we believe suppliers play a critical role in the future of sustainable healthcare, partnering closely with hospitals to meet their needs.
It's a challenging time for hospitals, but it's also an exciting one. Harsh economic realities demand new ways of thinking about how to deliver the best possible care. We have witnessed several hospitals and health systems implement innovative cost-savings measures that free up resources, which can be reallocated to initiatives that may improve patient care. In many cases, these examples are about looking hard at the economics of medical supplies to identify savings opportunities. To give others a look at tomorrow's best practices in supply chain management, we've devoted this column to hospitals that are finding ways to positively impact their bottom lines.
The hospital perspective on supply costs
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A recent survey on supply chain issues by Modern Healthcare found that 80 percent of provider executives are focused on reducing supply costs as part of their strategic plans. So, where are there specific opportunities to reduce supply spending while achieving positive patient outcomes? We asked hospitals.
Mary Roberts, St. Joseph Health: "We are looking at the big picture. St. Joseph has an ever-present goal to deliver perfect care to our patients, and from an operations standpoint, that means making sure our processes are as efficient and financially sound as possible in order to allocate the greatest share of resources to patient care."
Francisco J. Perez Gil, MD, Centro Cardiovascular Hospital San Lucas: "It's becoming more important than ever to find innovative solutions to provide optimal patient care and remain profitable. My practice in the EP lab has been running a successful SUD reprocessing program since opening in 2008. In 2011, the lab saved more than $152,000 through reprocessing, and is on track to increase savings for 2012-all with no adverse impact on patient care. The benefits are so strong, I wonder why any hospital would choose not to reprocess."
Some hospitals are choosing to leverage their collective bargaining power to realize supply savings. Participation in group purchasing organizations (GPOs) is up, and more than 50 percent of U.S. hospitals now belong to integrated delivery networks (IDNs).
Suppliers' role
Perhaps just as important as how hospitals are addressing supply chain costs in their strategic plans is what suppliers are doing to address the costly investments HCPs are making in the latest medical technologies. At Stryker, we believe suppliers play a critical role in the future of sustainable healthcare, partnering closely with hospitals to meet their needs.
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