The latest headlines in Healthcare IT are all about saving money by boosting the supply chain. Published just weeks ago, this article highlights the advantages of implementing an automated hospital supply chain for larger hospitals. Of all the “extraneous” costs associated with running a hospital, managing suppliers and spending hours negotiating with vendors should not be one of those. Time is …
Hospital Financial Management Has Never Been So Important
A report released by Moody’s Investor Services early in the fall of 2014 painted an alarming picture of the financial health of nonprofit hospitals. They have posted their second year of revenue declines and have experienced record-breaking low rates of growth of revenue. Median revenue growth has historically been around 7%; in 2014, it has dropped to 3.9%. Reasons for the low …
Cost Savings Opportunities in Hospital Supply Chain Management
The most successful Hospital Administrators and Operations Managers are constantly looking for cost savings opportunities when it comes to their Supply Chain Management. As this article in Hospital and Health Networks points out, “The economic downturn has given the supply chain renewed prominence, boosting it in many hospitals from the basement to the executive suite.” Hospitals and other organizations are realizing …
Four Reasons to Integrate Hospital Supplier Management into a Full ERP System
As costs for managing health care facilities continue to escalate, it is more compelling than ever to include Hospital Supplier Management in a fully Integrated Hospital ERP System. There are Four Compelling Reasons why implementing a fully integrated ERP System including Hospital Supplier Management is the right decision for your facility today: Eliminate up to 25% of the support costs associated with maintaining multiple stand alone databases. For …
