Opportunity for Improvement
As this health system stepped into its new brand and highly mission driven focus, one core value became of high importance within the lab: Stewardship.
“We are guided by relentless stewardship in the management of the resources entrusted to us.”
With a rapidly growing health system and an ever-changing healthcare environment impacted greatly by PAMA reimbursements, local and federal funding and rising costs, they needed to become a more passionate steward to the financial resources within the lab. With a large volume of money coming in and being spent across the lab and imaging, the opportunity for improvement in Accumen’s full-service operational diagnostic was revealed to be upwards of $5 M in savings year over year.
- Facility type: Voluntary nonprofit hospitals
- Facilities: 40 hospitals, 210 affiliations
- Personnel: 40,000+ employees and more than 8,000 affiliated physicians
- Annual Blood Budget: $3.4M
Speed & Scale
With a holistic view of the laboratory supply chain process across the growing system, the health system, with the help of Accumen, can quickly and securely implement supply chain best practices. Leaning on the breadth of experience and the experts within Accumen, more labs can adopt the best practices in a compressed time frame resulting in greater cost savings across the system.
Nationally Competitive Prices
Due to the depth of relationships Accumen has fostered within the healthcare industry and suppliers we’re able to help our health system clients secure nationally competitive pricing. We help negotiate contacts, renegotiate existing contacts and help assess new vendors to secure the best rates aligned with market changes and adjustments.
Best Practices
Supply Chain within the lab goes far beyond procurement and touches into the efficiency of supply storage, timely use to reduce any waste, inventory management and managing the labor necessary to ensure proper handling. When deploying system-wide best practices with Accumen there’s a common standard across locations and leadership that drives the system towards synergy and cost savings in lockstep.
“Our engagement with Accumen is a true partnership. Our confidence in Accumen is data-backed and results-focused.”
Looking Forward
“Our engagement with Accumen is a true partnership. Our confidence in Accumen is data-backed and results-focused,” stated the Supply Chain Sponsor. “We are keeping the attention squarely on where patients want and need to be treated to improve in every way possible, especially as stewards of patient resources.”
As the Accumen team continues to partner with this health system, the expected $14M in savings, which reflects 12-15% of the annual lab spend, will reach success within the 3 years of the agreement.