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    Supply Chain Management Can Be the Cornerstone For Savings in Health Systems

    Global Impact: Rebecca Rock, RN and SABM CFO talks with HPI about two roles across two countries

    From Lab Trend Visionary to Dark Group CEO: HPI connects with the Founder and Editor of the Dark Report, Robert Michel

    Two Imaging Leaders, Two Systems, One Outcome: Communication

    From Communication Strength to Just in Time Reopening at MGH A conversation with Dr. James Brink, Chief of Radiology at Massachusetts General Hospital

    From Time Magazine to PBM Influencer: Sherri Ozawa's Mission to Define the Value of Blood

    Buried Blessings: Pandemic perspective from Tom Strauss, CEO at Sisters of Charity Health System

    Katie Castree, Career Healthcare Process Improvement Connoisseur

    Solving Lab Challenges through Recruiting Innovation: HPI connects with Lighthouse Lab Services President, Jon Harol

    Providing Value-Based Care in a Pandemic through Telehealth and Data Resources: An HPI exclusive with Dr. Darrel Weaver

    From Supply Chain Crisis to Innovation in a Pandemic

    From Navy Medic to running a Clinical Laboratory . . . during a pandemic

    Planning for Blood Shortages in a Pandemic with Dr. Claudia Cohn

    Blood Banking is more complex today than ever before. Rob Van Tuyle, President of Vitalant's Blood Division, tells us why.

    Profoundly Impacting Healthcare with Breakthrough Anemia Management

    Supporting Imaging Precisely Where You Need It

    Working Together Makes End of Life Conversations Easier to Have

    The Future of Imaging: Assessing the early impacts of COVID-19 and the path to innovation through Artificial Intelligence (AI) A conversation with Dr. Geoff Rubin

    Pivoting in a Pandemic: How a U.S. 3D printing manufacturer is helping healthcare in its time of need

    Mara G. Aspinall: Diagnostic evangelist educating the world on the power of diagnostics today

    How The Joint Commission is addressing the COVID-19 Pandemic

    CHI Nebraska’s Laboratory Director Connie Wilkins, describes How To Manage a Clinical Laboratory During the pandemic

    Former Commercial Lab Leader Highlights the Hospital Lab as the Solution to Community Sustainability in a Healthcare Crisis

    Three Phases Essential to Crisis Preparedness in Patient Blood Management with Anne Burkey of St. Luke's Health in Boise, ID

    The Importance of Agility in Your Lab

    Dr. Paul Biddinger Shares Three Ways to Prepare for COVID-19

    Bringing Clinical Skills to Operational Leadership During a Time of Crisis; Dr. Blanton, Chief Medical Officer at Peterson Health

    7 Team Attributes to Teams that Work in Challenging Times & Through Rapid Innovation

    From Finding Problems to Saving Lives: The Evolution of Interventional Radiology

    Identifying the Potential with AI in Radiology with Dr. Chung

    Communication in the C-Suite with Cliff Robertson of Catholic Health Initiatives

    Reviewing Your Patient Financial Journey with Melody W. Mulaik, President of Revenue Cycle Coding Strategies

    Ask An Accumen Expert: Carolyn Burns, MD, a Patient Blood Management Advocate

    Linda DeVee, Leads Radiology Services at Edward-Elmhurst Health

    Theresa Mouton, Market Chief Financial Officer with Steward Health

    PELITAS President and CEO Steven Huddleston Wants Patients to Have a Great Experience – Both Clinically and Financially

    How Do You Deal with 2 Billion Forms a Year? Ask Randy Campbell

    Medical Director of Telehealth for UAB Knocks Barriers Down to Treat Patients on Their Terms

    C-Suite Spotlight: Wayne Bohenek Chief Ancillary Services Officer, Bon Secours Mercy Health

    A Leader in the Laboratory Service Line : Pierre Mouawad

    Healthcare Partner: Autumn Farmer, Chief Laboratory Officer, Bon Secours Mercy Health

    How Imbio is using AI to close the gap of missed diagnosis with Mike Hostetler

    Spit Matters with Bill Phillips from Spectrum Solutions

    How COVID-19 inspired TeraRecon to accelerate their imaging solutions to the point of care with Jeff Sorensen

    Why supply chain is such an important piece of the puzzle?

    Pop Quiz Question: What effects every corner of a hospital or health system’s lab or imaging department’s workflow and operations?

    Answer: Supply Chain.

    Really? Yes. It does! A recent Navigant analysis found that unnecessary supply chain spending costs hospitals $25.7 billion a year, a number that is rising steadily despite hospitals’ efforts to reduce it. The same study found that lower spending on supply chain does not correlate to lower-quality care. In other words, hospitals can cut supply chain spending significantly – saving an average of $12.1 million per facility – while still delivering the same quality patient care.[1]

    Chances are, there are significant unclaimed savings opportunities in your organization’s supply chain. Improvements to supply chain that could positively impact your bottom-line costs while improving quality, sustainability, and patient outcomes.

    Hit the ground running in 2020 – the time to bolster your supply chain management is NOW!

    Healthcare organizations’ laboratory and imaging departments have the potential to be robust profit centers. However, because of their operational complexity – and the fact that they are often distributed across the organization, hampering the ability to track performance accurately – they can also be sources of massive cost, quality, and service inefficiencies.

    This is particularly problematic for hospitals and health systems, because a confluence of factors is creating a more challenging financial picture for lab and imaging departments. Some of the main factors include:

    • Accelerating downward reimbursement pressure – changes that may very soon result in dramatic cuts to reimbursement, reducing revenue.
    • High equipment and labor costs – a variety of specialized equipment that is expensive to maintain combined with a shortage of skilled staff keeps equipment and labor costs high and getting higher.
    • Changes to payor policy – payors are becoming more involved in site-of-service decisions, which may drive more patients to lower-cost standalone labs and imaging centers.
    • A crowded market – market pressure from more nimble competitors may eat into market share.

    Supply chain management – a complex challenge

    Healthcare’s supply chain is unlike that of any other industry. Hospital and health systems’ instrument and equipment needs are unique, and timing is critical. A delay or a misdirection in the supply chain can, and does, translate to longer test or procedure turnaround times. When patients and their healthcare providers must wait longer for results, it can delay treatment, leaving patients in an anxiety-producing limbo and increased length of stay.

    As an industry, healthcare has not evolved to consider supply chain as a foundational element of its operations, the way that industries like manufacturing or aerospace have. Learning about supply chain best practices that are applicable across industries is an excellent first step toward improving a healthcare organization’s supply chain. However, hospital and health system executives are typically more focused elsewhere in the organization – on the Emergency Department or Operating Room for example – and less on lab and imaging.  Lab and imaging departments, therefore, represent an overlooked area of opportunity for hospitals and health systems.

    [1] Becker’s Hospital Review. “Hospitals Overspending by Billions on Supply Chain Expenses, Study Finds.” November 13, 2019.