Hospitals and healthcare systems today are experiencing margin erosion more than any other industry in the U.S. With rising costs and lower reimbursement putting their financial future in jeopardy, they have no choice but to find new and different ways to protect their bottom lines (while simultaneously offering state-of-the-art care). Responsive measures such as pharmaceutical cost cuts, reducing staff and ongoing legislative action have garnered the most attention among executives, but the supply chain is actually where there is some of the most significant opportunity to reduce costs – and optimize efficiencies.
Simply put: Healthcare supply chain teams have a golden opportunity to leverage the knowledge and data available to them to not only maximize their current cost saving methods, but more, to pioneer new approaches to logistics and potentially game-changing solutions.
In a recent article that I contributed to Healthcare Purchasing News, I discuss four of these solutions in detail. You can read the full article here, or read on for a quick overview.
It requires manufacturers on the front-end and multiple stakeholders throughout the healthcare system to collaborate with the supply chain team and agree to centralize stocking and storage facilities. Costs are, in turn, distributed across these multiple facilities, which can generate a wealth of savings, streamline operations and improve process flow. This simplifies the entire supply chain process and allows healthcare systems to restructure their supply chain strategy to accommodate supply standardization across an entire healthcare network.
For more on this topic, read the full article in Healthcare Purchasing News.