How to Move from Cost-Cutting Campaigns to Permanent Savings Solutions
Between 2015 and 2016 operating expenses outpaced operating revenue, and the industry saw its highest operating expense growth since the passage of the Affordable Care Act. On top of that, revenue growth began decelerating in 2015 as providers experienced threats to both volumes and prices. Hospital and health system leaders now face an unavoidable margin-management challenge.
While revenue fuels the problem, expenses will be at the heart of the solution. Our newest cost-related research includes 8 strategies that will help providers slow operating expense growth and thrive amid challenging economics. This presentation—the first in a two-part series—explores the drivers of the margin-management challenge, and includes strategies to rebase spending on supplies, pharmaceuticals, and purchased services.
Things You’ll Learn:
- How to move from cost-cutting campaigns to permanent savings solutions
- Strategies to generate savings on supplies and purchased services
- Guidance on managing pharmaceutical utilization
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