We firmly believe that hospitals can deliver high-quality care and save money simultaneously by incorporating patient outcomes and safety data into their purchasing processes. In fact, we’ve seen hospitals achieve remarkable—and sustained—cost savings. Using the evidence-based value analysis approach we advocate, one client saved $2.4M annually on contrast media purchases, and another saved more than $500,000 annually on surgical mesh products. These outcomes are especially meaningful in today’s environment, as hospitals try to realize their clinical as well as financial objectives and meet federal quality mandates.
We describe these and other clinical and financial outcomes hospitals achieved by transforming their purchasing from price-focused to clinically driven processes in our latest white paper, Taking Hospital Cost-Reduction Efforts to the Next Level: Clinically Driven Processes Proven to Improve Utilization and Reduce Costs. You can download a complimentary copy of this publication here.
If your organization is struggling with the best way to improve your value-analysis process, give us a call to explore how Hayes can help you reduce costs and improve clinical quality.