Centralized Project Tracking Helps to Achieve $26.9M in Savings
Tracking, Communication and Accountability
Almost all healthcare systems are trying to achieve significant reductions in the cost of care. They often have 50+ initiatives underway simultaneously with the goal of reducing cost without sacrificing quality, patient satisfaction, non-employee satisfaction, and retention. Care variation, productivity, supply cost… the list goes on and on. The old adage is true: if you don’t measure it, you won’t achieve it.
For health systems that are goal-oriented, countless hours often go into tracking of initiatives. Getting the data, analyzing it, and calculating financial impact is often spread among teams. This leads to “savings” being reported, but no savings show up in financial statements. Moreover, getting a view of all savings projects across the organization is either impossible or so labor-intensive that it is not done. The result: savings programs don’t produce, goals are not met, and more budget cuts are inevitable.