The Role of Hospital Financial Management in Cost Reduction

The financial management of hospitals plays a larger role today in administering the business of healthcare institutions than ever before. The leading aspect is planning for the acquisition of equipment and appropriate the funds (capital) that will allow the institution to run efficiently along with the fiscal responsibility to stay solvent. Hospital financial management, according to the American College of Healthcare Executives, requires some very specific functions. …

Hospital Supplier Management Growth Opportunities

In general, the Supply Chain Management market industry has been gaining in popularity as a process that works. Progress in the supply chain marketplace is changing in that supply chain management as a field of work and study is gaining popularity. Twenty percent of ThomasNet North American Scholarship recipients are choosing supply chain management. The sector that has seen the most growth is in healthcare and specifically …

Success Story – Increased Sixty Percent Efficiency in Purchase Orders

Company Description: Upper Midwest hospital system with 7 Hospitals and many clinics, 400+ eProcurement Requesters Problem: The hospital systems was using high priority requisitions as a means for requesters to request product that was needed within 24 hours, often times for next day patient procedures. There were 3 main issues that the hospital system was encountering. An increased risk to …