A clear focus on the value chain can deliver a significant return on investment. The authors point out that too often, hospitals utilize their own “homegrown” tools such as Excel spreadsheets, which can compartmentalize data and make it difficult, or nearly impossible to forecast or predict changes in supply chain demand.
The article highlights some examples of hospitals that are investing in new technologies to relieve additional pressure on margins and reduce the cost of care. For example, using demand management and forecasting tools to link historical data to help better manage supplies.
Every instance in which costs can be reduced and outcomes enhanced must be looked at closely. Of course, in today’s reimbursement world, any and every thing that drives higher patient outcomes is the Holy Grail.