Found Money: How to Clean Up Preference Cards to Cut Inventory Spend and Boost MarginsMarch 23, 2016 Topics: Media, News
Featured on March 30, 2016, as one of “Today’s Top 20 Health Finance Stories” at Becker’s Hospital CFO, Steve Simco and Dave DuBose discuss how heightened cost pressures are forcing hospitals to look for ways to reduce wasted spend.
“In fact, in a recent survey, hospital executives said finding cost savings to meet their current-year objectives is one of their top challenges. The supply chain—more specifically, inventory and order management processes—is a natural place to look for savings. A study from the International Journal of Supply Chain Management shows that inventory and order management costs account for 61 percent of total supply chain costs (or $61 million per year for a typical large healthcare provider).”