With the supply and services spend exceeding $200 million annually, a 500+ bed safety net hospital system in New York State recognized the need to tackle challenging savings opportunities, such as physician preference supplies and purchased services, and implement improvements that could be sustained through a centralized supply chain organization.
Prism helped the system identify more than 125 initiatives to reduce supply and non-labor expenses. They formed six value analysis teams to implement improvements and build a cohesive, centralized non-labor support structure. The teams quickly surpassed the goal to achieve $9 million to $11.5 million in annualized savings. Initiatives included:
Partnering with Prism, the system identified over $20 million in supply chain savings.
“Prism’s experts helped our organization implement significant non-labor savings opportunities and restructure our resources to sustain the improvements.”
System Executive Vice President & Chief Operating Officer