What goals do you have in terms of managing your annual non labor spend? Are you structured to achieve those goals? What metrics do you use to track and monitor your progress? How do you track new spend coming into your system? And how are you tracking the sustainability of the savings that you do accomplish?
Every healthcare executive should ask themselves these burning platform questions. With healthcare costs rising exponentially, reimbursements falling, and acute care patient volumes declining, never before has there been greater pressure to reduce costs. Non labor expenses typically comprise the second largest expenditure, making it a prime area for significant cost reduction initiatives.
Unfortunately, many systems cut their non labor costs to hit an annual target – only to find they’re unable to sustain those savings over the long term. Sustainability requires the creation of a culture of accountability, C-suite engagement, cross-organizational stakeholder representation, and 100% process adherence. That’s where Novia Strategies can help.
Non Labor Expense Reduction
Reduce your non labor expenses – and sustain the savings over the long term – through a proven, integrated approach that delivers tens of millions of dollars in annual savings.
GPO Assessment and Conversion
Ensure you partner with the GPO that best meets the needs and culture of your organization with an objective third-party consultant whose primary goal is maximizing the value of your GPO relationship.
Preference Card Environment
Reduce clinical variation and supply costs – while maintaining or even improving outcomes – through our data-driven approach to physician preference cards and resource utilization.
Supply Chain Operational Improvement
Improving the quality and reliability of supply chain services frees your clinicians to focus on patient care while delivering significant supply cost reductions and efficiency improvements.
Novia’s surgical consulting solutions enable clients to maximize capacity, improve physician and staff satisfaction, and lower costs while simultaneously improving quality and efficiency.
Novia’s non labor cost-reduction solutions enable clients to extract significant costs from their supply chain and contracted services, and deliver sustainable savings against their bottom line.
Significant financial and operational improvements allow our clients to achieve their financial targets and practice fiscal responsibility. With our unique commitment to ensuring the sustainability of the savings, these savings also allow our clients to fund their futures so they can continue to care for their communities for years to come.
Ready to Talk?
Contact Tom Fox today to discuss how Novia Strategies’ Non Labor consulting solutions can help your organization succeed.