Senior Care Facilities Saves in Multiple Cost Centers
The client is a multi-location Senior Care Provider in New Jersey that provides support for patients and their families in their own homes, assisted living centers, skilled nursing facilities, and hospice houses. Medicare, Medicaid and most insurance companies cover the care given by the organization.
Given the current economy, diminishing government reimbursements and a trend toward extended hospital stays for the terminally ill, the Provider wants to continue to provide high-quality care as cost-effectively as possible. The savings found will help address the diminishing government reimbursements.
The organization asked the Expense To Profits experts to review its expenses for payroll services, energy, janitorial, medical and pharmaceutical supplies. ETP Consultants found both “hard” savings (money) and “soft” savings (process improvements) that will help the Provider 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 hospice, including quality, availability of electronic inventory management tools, shipping charges and price-change notification policies.
We 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 to implement the savings.
Senior Care Facilities Cost Reduction Project Summary