Supply Chain
Americans are paying higher prices for cancer drugs because more patients are being treated by oncologists whose practices have been bought by hospitals, which may charge double or more for the same treatments, according to a new report.
In 2011, total revenue from hip implants in the U.S. was approximately $2.8 billion, and it's projected to grow to $3.3 billion by 2016. The growing use of these implants makes the category an important focus for healthcare organizations that are trying to manage their costs.
The opportunity for cost reduction through smart resource and waste management is high. To maximize this opportunity, hospitals and health systems should look for medical waste processing companies that emphasize green initiatives.
Supply chain costs account for a surprisingly high percentage of the overall total operating budget at healthcare facilities, making clear insight into supply chain processes critical to ensuring maximum efficiency and long-term cost savings.
The sourcing process in healthcare is quite strategic; much more than just buying products. Success depends on the right type of clinician involvement and the right high-caliber talent within the sourcing group.
Supply chain costs are the second largest investment for hospitals behind only labor. While many organizations struggle to keep these costs in check, even modest improvements to supply chain performance and inventory management can significantly reduce operating costs.
Did you know that some facilities use imaging software to perform differential reviews previously done only by trained laboratory professionals? But adding imaging software automation to the hematology lab can tack on $85,000 to $140,000 to the cost of a hematology analyzer.
Most hospital administrators choose to implement vendor management systems to keep track of who is in the facility, what they are doing in the facility and to make sure the vendors have the training the organization wants them to have, but today's vendor management technologies allow for expanded uses.
While chemistry previously ruled hospital clinical laboratories, in today's labs immunoassay is equally important. Indeed, these blended systems represent the lab's largest capital outlay.
The supply chain represents about 25 percent of a healthcare facility's operating budget, and industry trends strongly indicate that this percentage will continue to grow. Thus, supply chain optimization is not an option, but an imperative.