Addressing cost is a key step on the path to normal

As we enter a post-surge environment, cost is a key element to review in an effort to lay the grounds for the new normal.

To thrive in the future of health care, hospitals and health systems should focus on reducing costs, lowering cost base and improving margin.

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Reduce costs

Stabilize your business by honing in on:

  • Controlling labor costs
  • Lowering supply and service costs
  • Managing variation to lower cost

Lower cost base

Sustainably optimize cost of care delivery when you:

  • Enhance labor practices and procedures
  • Expand telehealth use
  • Streamline real estate and facilities expenses

Improve margin

Align payer mix and capital structure for the future of health care by:

  • Establishing adaptive staff models and workforce strategies
  • Standardizing and streamlining inventory
  • Optimizing systemwide purchasing power

Reducing operating room supply costs

Since the operating room (OR) accounts for 40% to 60% of supply spend and must cope with the constant demand for new technology, a solid strategy and collaborative environment are required to keep OR costs down while improving patient outcomes.1
 

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Drug Price Forecast: The Cost of
COVID-19

Explore the financial impact of the global pandemic on anticipated drug spend, drug approvals, regulations and pharmacy practice. Vizient pharmacy leaders provide insights and resources to help your organization prepare for the next six months.
 

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Expertise to maximize staff efficiency

Improve care, outcomes and financial performance by applying a systematic approach to collecting data, mapping and analyzing processes, benchmarking best practices, removing limiting conditions, and designing and implementing the perfect process.
 

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Providing purchased services insight

Vizient amplifies the purchased services contracting process with the integration of category expertise, resource and change management, and spend visibility to help members identify market-leading savings opportunities on more than 350 service categories.
 

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Interested in advancing your cost sustainability efforts?

Help us understand your organization's current cost focus, then together we'll discuss specifics to support your work in building cost sustainability.

Keep familiar goals in check, even on the journey to a new market normal

For deeper success, many organizations integrate their strategy to stabilize, adapt and evolve with initiatives that were pertinent even before the pandemic - cost, reliability, revenue and quality. We can help you improve these areas while keeping a fast pace on your successful journey to a new market normal.

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Revenue

A strong, sustainable revenue stream derives from solid business processes and strategic forecasting, systemwide. Our experts help identify and implement the right initiatives, from better payer negotiations to meeting market demands to improving billing practices.

Doctor

Quality

High quality care is the core of your mission. Sustaining it calls for more than core clinical practices. Transform clinical quality with our experts and data analytics to innovate and build new care models, stronger safety standards and a more profound culture.

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Reliability

Providers now know severe disruption and more strongly understand the need for trust transparency and predictability of supply chain operations. A partner like Vizient, with proven analytics and supply decision experience, helps you increase predictability of supply chain operations with quality and safety in mind.

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The future of health care

Unprecedented challenges require unprecedented speed and results. We're uniquely able to help your organization overcome today's challenges, and together, look ahead to build a stronger foundation for the future of health care.

Let's connect to help you build the future of health care

1 Guerriero F, Guido R. Operational research in the management of the operating theatre: a survey. Health Care Manag Sci. 2011;14(1):89-114.