Savings help address diminishing government reimbursements for this Medical Practice
Expense To Profit’s Medical Practice Expertise in Health Care
The client is an award-winning multi-specialty medical practice staffed by a team of 500 top physicians and advanced care providers and 1500 clinical employees throughout 13 locations in Westchester County, NY and Fairfield County, CT.
The organization asked ETP and our health care industry experts to review its expenses for medical supplies. ETP Consultants found both “hard” savings (money) and “soft” savings (process improvements) that will help the practice continue to fulfill its mission.
Market knowledge, proprietary tools, project experience and implementation assistance
Our consultants were able to gather extensive and detailed information from suppliers. Our experts weighed supplier responses based on a number of criteria important to the practice, including quality, timely delivery of ordered supplies, availability of electronic inventory management tools, shipping charges and price-change notification policies.
They also reviewed existing and proposed contracts for improved pricing, incentives and discounts; arranged a “Vendor Day” so that suppliers under consideration could present alternative products that offered substantial savings; and assisted in implementation with a 60-day transition period after contract signing.
While ETP found greater savings from a competitive supplier, the practice decided to forego the additional savings and remain with their current provider.
Medical Practice Cost Savings Project Information
Industry: | Health Care |
Expense: | Medical Supplies |
Annual Savings: | $480,000 |
Suppliers: | Existing |
Net Savings: | 10% |
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