impact story

True Cost & Margin Data Helps to Save $1M+ in Supply Costs

Increasing Cost of Supplies and Decreasing Reimbursement

Health systems are constantly balancing the need to grow margin and reduce cost. As healthcare technology continues to flourish, health systems are barraged with increasingly more advanced – and more expensive – procedures, implants, and drugs. Without being able to compare true acquisition cost, the full capital expense, and the expected reimbursement to improvements in health outcomes and quality, providers are making high cost decisions with limited data.

Collaborating with Strata Decision Technology, a large Texas-based health system introduced a Decision Support Analytics program to drive a new data validation process for reliable, accurate, timely and relevant data. They found that this new process drove accountability, also providing a new way to anticipate downstream impacts of their decision-making.

This organization drove results and impact

$1M saved in total supply cost

$500K saved in capital expense

Increased costing accuracy via increased supply data use

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