Purchased services spend can comprise as much as 40-50% of a hospital’s non-labor costs and represents millions in annual cost savings potential. Leading hospitals and healthcare systems have developed strategies to monitor and manage the high volume of supplier contracts.

IT cost reduction is a priority for hospitals and health systems faced with increasingly complex proposals and vendor contracts relating to IT. Leading healthcare systems implement strategies to maximize margin improvement opportunities across the many different categories of their IT spend.

The operating room accounts for up to 70% of a hospital’s revenue, up to 65% of its margins and 50% of a hospital’s costs. An efficient operating room enhances patient satisfaction and ensures quality patient care while significantly reducing waste.

The growing utility of hospital spend analytics presents an excellent opportunity for new cost-effective approaches. Health systems, supply chains, and patient care facilities investing in spend analytics, can optimize hospital costs and expenditures to improve profits and eradicate bad debt.

SpendMend illuminates purchased services spending across your entire healthcare system by categorizing your total monthly spend across hundreds of categories to uncover savings, so you can reduce the overall cost of operations for your entire healthcare organization.

Benchmarking is a comparison and measurement of a healthcare organization's performance against other healthcare organizations. It provides leaders with insight to help them understand how their organization compares with similar organizations that provide the same services.

Physician preference items (PPIs) are often comprised of the most expensive products ordered by hospitals and can have a negative impact on your hospital’s operating margins. Successful healthcare organizations know how to optimize the purchasing process for every PPI product.

IT cost reduction is a priority for hospitals and health systems faced with increasingly complex proposals and vendor contracts relating to IT. Leading healthcare systems implement strategies to maximize margin improvement opportunities across the many different categories of their IT spend.

Supply chain management for hospitals regularly requires expertise and experience. Health systems depend on top supply chain services for medical device procurement, shipment needs, and vendor relationships. With the right supply chain services, healthcare providers can develop a competitive advantage.

Healthcare analytics and data management are key areas that have benefited from the recent wave of automation technology solutions in healthcare. Improved data accuracy, better monitoring and evaluation, and overall efficiency are some of the advancements brought about with automation.