Hi friends, after nearly 20 years in healthcare strategy, including my recent work at The Health Management Academy where I advised 60+ healthcare organizations, I've come to realize just how much “noise” there is bombarding #healthsystemexecutives. While there are endless new concepts coming to market to attempt to patchwork flaws in our healthcare system, a few have stood out to me as true innovative solutions worth sharing. With that, I am excited to launch my "Solution Spotlight" series! ?Each time, I'll highlight companies making a meaningful impact in healthcare delivery and operations that I think health system executives should consider. Today's spotlight: LogicSource – Unlocking (or uncovering) Hidden Savings in Healthcare Operations The challenge: While health systems may direct the bulk of their focus and resources on their clinical costs, they often overlook massive savings opportunities in areas like IT licensing, facility services, marketing and administrative operations. These "invisible" costs typically consume 20%+ of a health system’s revenue and in many cases, they are being hosed. But LogicSource wants to change that with: ?? Deep category expertise across hundreds of non-clinical spend categories ???? Technology-enabled approach with their OneMarket platform ?? No upfront fees - they get paid based on actual savings delivered ?? Proven ability to deliver 10-15% savings across a system’s non-clinical expense base Real results: In recent client work, LogicSource secured over $21M in annual savings opportunities across categories like IT, marketing, facilities, and corporate services, allowing this regional health system to invest in their top clinical priorities. For health systems facing margin pressure (and who isn't?), LogicSource offers a compelling way to reduce costs without impacting clinical operations or patient care. For anyone who wants to learn more, you can request a no cost assessment here: https://lnkd.in/eQkuMxTC I’d love to hear your feedback- is this a new concept to you or old hat? What are your thoughts on addressing indirect spend in healthcare? Does anyone know of similar solutions? #Solutionspotlight #Healthcare #CostManagement #HealthcareStrategy #OperationalEfficiency?
From one Advisory Board alum to another - This is truly a great opportunity for any healthcare organization to get under the hood of what they're spending and how they can improve everything procurement related, from contracts to process to organizational buy-in to hard dollar savings.
We appreciate your support Ingrid Lund, PhD!