The 3 Key Drivers in Purchased Services Spend

5 Challenges To Finding Purchasing Cost Savings

Overcome the following challenges to implement an effective strategy:

1. The volume of data:?Every month hospitals are faced with hundreds to thousands of line items on invoices that require review for multiple vendors.
2. Lack of detail:?Summary invoices lack supporting data essential to analyze your purchased services spend. Different line items can often be hidden within the invoices.
3. A shift in the buying process:?Purchased services invoices are unique, presenting a significant challenge compared to invoices received for traditional stock items. This shift requires trust between the hospital and their suppliers and a manual process to reconcile and analyze for cost savings opportunities
4. Complexity:?Due to the complexity of charges and how services are invoiced, a high potential for billing errors exists. These errors are often overlooked because the price increase may only fluctuate by 10% or a month.
5. Reviewing spend on a 12-month basis:?A review of 12 months may show that $75,000 was spent, but a line item analysis would reveal that the previous three months had been trending up 30%.

Join Rich Dormer and I on October 13 at 1 pm ET for a brand new webinar on purchased services:

The?3 Key Drivers?in Purchased Services Spend:

Data, Decisions and Deal-Making

How the C-Suite and Executives at High Performing Organizations Are Leading Their Teams in Achieving Organizational-Wide Purchased Services Cost Optimization

Register here:

Attendees of the webinar will gain deep expert insights into:

? The most successful C-Suite strategies for driving cost savings in purchased services.

? The 5 best methods hospital leaders use to help their teams achieve savings goals.

? The most difficult cost-savings challenges facing healthcare leaders (and 3 proven techniques to overcome these challenges).

? How data analytics is providing new visibility and transforming cost savings strategy.

? How to properly evaluate purchased services and gain visibility into system-wide savings opportunities.

? Methods for renegotiating a mid-term purchased services agreement.

? How technology and entrepreneurial innovation drives centralized management and oversight of purchased services spend.

Who should attend:

CFOs

COOs

CNOs

VP and Director of Finance

VP and Director of Performance Improvement

Chief Supply chain Officers

VP and director of supply chain

Department Leaders

Our guarantee for attending:

? In this 45-minute webinar we guarantee that you will learn purchased services cost savings strategies that will save your hospital at least $1 Million

Hospital Attendees will receive:

? A customized purchased services cost savings roadmap

Register Here: