Four Areas of Savings are Underutilized or Overlooked by Hospitals
We were excited to read the Advisory Board’s recent research note that Hospitals may underestimate or overlook four areas of cost savings, including (as noted by Jenna Koppel):
- Unfavorable contract terms. Supplies and purchased services are a growing portion of total hospital costs, and can account for a big portion of avoidable costs.
- Outdated care protocols. Failures to reduce overtreatment or to adopt best practices cost an estimated $300 billion per year across the U.S.
- Supply waste. Hospitals generate huge amounts of waste each year, of which a large proportion is unused supplies.
- Premium labor. While most organizations have dramatically reduced spending in this area in recent years, data indicates spending on sitters and incremental overtime has crept back up.
ExplORer Surgical can be utilized to both overhaul and optimize outdated protocols which utilize expensive instruments and supplies, and eliminate supply waste, which our research shows occurs because nurse don’t know the procedure and/or have not worked with the surgeon recently. To learn more about how to use ExplORer Surgical to reduce inefficiency and waste, visit our series on Making Efficiency Plays in the OR.