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.