$4.1 million decrease in supply chain costs through improved supplier selection
Healthcare Organization Case Study
Orthopedic implants are among the most expensive devices used in hospitals today. Limited transparency about costs and utility directly impacts profitability for the hospital.
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Surgisphere worked with one of the largest orthopedic surgery groups in the country to develop benchmarks on total cost of care around various orthopedic procedures. Transparency in supply chain procurement and utilization changed supplier utilization and led to significant cost savings through higher value care.
Predictive modeling and insight into one-year cost of care led to preferred business with two orthopedic implant suppliers, allowing improved volume pricing and reduction in use of other supplies. This had a $4.1 million impact in supply chain costs in 2019.
Improved cost accounting and integration of clinical and financial data is now being implemented for the vascular service line, with estimated savings calculated at $2.8 million for FY 2020.