The American Hospital Association warned in an April report that the financial stability of U.S. hospitals and health systems is at risk. Sponsored by MagnitGlobal Read More:
. “Everyone is signing off on different projects, and they’re not taking the time to look for cost-saving opportunities.”
The other issue is that it can literally increase the cost of working with an outside contractor. “In a lot of cases, these suppliers are used to dictating their business to healthcare organizations,” Maxwell says. “They name the price. What the supplier says, goes.” Data transparency is key to easing the pain of change management. With the right technology tools in place, procurement teams can gain visibility into what they’ve spent with suppliers in the past, contrast that spending with market rates for contracted roles, and take the necessary steps to amend a SOW – and trim costs wherever possible – before putting a project out to bid.
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