Reduced procedure costs across four-hospital system
A four-hospital system sought to reduce overall procedure costs. Facing impending bundled Medicare payments, the system lacked understanding of the cost per case and per physician.
- Linked disparate systems ad developed database to capture cost by surgeon and by surgery type
- Worked with Physician Champions to determine areas of potential savings
- Opened savings discovery process to all surgeons, focusing on the hospitals’ highest volume and cost areas
- Renegotiated with suppliers, achieving significant cost reductions
- Aligned stakeholders to eliminate surgeon activities that drove cost overruns
Results: Achieved $16MM in cost reductions.