In an era of declining reimbursement and increasing provider risk, hospital cost reduction is a top concern among healthcare executives. Health systems often try to tackle this by targeting reductions based on benchmarks. But that approach generally only leads to short-term gains. That’s because it fails to account for the many unique institutional variables — such as facility layout, technology, and other issues — that may inhibit larger and more sustainable reductions.
At Prism Healthcare Partners, our experienced team helps executives achieve strategic and long-term hospital cost reductions across clinical, ancillary and support areas. We do this by bringing our clinical and operational subject matter expertise to each client’s unique cost structure and situation. We conduct careful observation, interviews, and in-depth analysis to identify where the real opportunities exist. Using this integrated approach, we then help you and your teams build and implement the right strategies and tactics to achieve sustainable improvements.
Our team has significant expertise in all expense areas, from workforce, pay and benefits to clinical and non-clinical supplies, drugs and purchased services. And we provide implementation support for these opportunities using a disciplined, structured methodology and accountability system to get the job done.