Nearly 80% of health system executives report they need to aggressively cut operating costs within the next three years. The "go-to" strategy for many leaders is to disproportionately focus on labor budgets—specifically nursing labor budgets.
However, even though labor represents a sizeable amount of hospital operating costs, it has a relatively small cost-saving opportunity. There are three often overlooked opportunities for achieving near-term savings: care protocols, supply waste, and unfavorable contract terms.
Discover 11 strategies that can generate significant, hard dollar savings within 9-18 months and that apply to all organizations, regardless of payer environment.