A recent report released by Navigant Consulting found hospitals could save $25.4 billion by optimizing supply chain operations and using data to inform decision-making. The report, which analyzed and compared 2,300 hospitals’ supply cost per adjusted patient day, produced several key findings about top-performing hospitals:
The report emphasized the importance of streamlining the supply chain management process and standardizing vendor contracts, the bidding process and item sourcing. The report found that those hospitals that standardized such elements also had better Medicare condition rates and value-based purchasing scores.
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