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Return on Investment – Maximize your hospital’s revenue on supply usage

May 24, 2017
Revenue Management
From the May 2017 issue of HealthCare Business News magazine

• Support suppliers: Fear of rep pushback was an initial concern. However, Baptist Health found reps were very open to using new technology after learning the benefits and how simple it was to integrate. Showing the reps that they can enter the requisition immediately, resulting in a quicker payment schedule, was important.

• Integrate gradually: Start with a handful of suppliers and build champions of the program. Baptist Health implemented the technology solution system-wide, beginning with the orthopedic and joint suppliers (among the highest dollar supplies) before moving on to cardiac rhythm management. They brought two to three suppliers on board each month. By slowly transitioning suppliers, it gave both parties time to adjust and troubleshoot. Once they had successfully transitioned a supplier, they used the success stories from the implementation process to share with any rep who was hesitant about the transition.

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While revenue loss due to inaccurate coding plagues most health systems, it does not need to be your reality. Integrating new supply chain technologies can help streamline the process of tracking and coding supply usage so you don’t miss out on any revenue.

About the author: Michael DeLuca is executive vice president of technology and client services for Prodigo Solutions, a health care supply chain solutions company helping hospitals gain control of supply chain spend through contract compliance and automation.

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