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Article: Eyes on the supplies: results of a massive performance improvement initiative: how much money can you save with a performance improvement initiative that focuses largely on supplies? More than you might think, if you follow the example of the University of Utah Hospitals & Clinics.
- Article from:
- Healthcare Financial Management
- Article date:
- April 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Healthcare Financial Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It's always a good idea to look for ways to reduce operating expenses and improve performance. But how many hospital CFOs expect to find a substantial share of their potential cost reductions in the area of supplies? That's what UUHC found when it embarked on a systemwide, five-year performance improvement initiative in which a centerpiece was controlling costs in the supply chain.
With an expense budget of $15 million to spend just on improving the supply chain, UUHC's overarching vision for the project was to establish a fully integrated cost-control/supply chain process that would support excellent patient care while managing and controlling financial ...