Early Warning Signs of Financial Stress in a Hospital
The hospital C-Suite is under duress. Each day they must carefully manage their scarce resources amidst a declining reimbursement, rising labor costs, a difficult credit environment and thin margins. As hospitals look for ways to increase the efficiency of their resource allocation MedTech suppliers must be aware of the early warning signs that the hospital […]
12 Reasons Why Hospitals & Healthcare Systems Use RFPs!
Increasingly hospitals are turning to Request for Proposals (RFPs) to procure their goods and services. RFPs give hospitals one voice and one process thus streamlining the purchase process for goods that they deem to be highly price competitive. There are twelve reasons why hospitals and healthcare systems use RFPs: 1. Policy Requirement or Law: RFPs […]
Medical Device Sales: These Times They Are-A-Changin!
In 1964 Bob Dylan released his third studio album entitled: The Times They Are-A-Changin.” It was appropriate then and it is appropriate today especially as it pertains to healthcare. Here are a few: Buying Decisions: Manufacturers are seeing purchase decisions move from clinical criteria to economic criteria. With many products “clinically acceptable” is preferred to clinically […]
10 Ways Hospital Procurement Saves Money!
Let’s assume you are a hospital CEO in the USA and your facility has a 3% net margin. This means that for every $100M of revenue you earn $3M. Would you rather try to grow revenue or ask your strategic sourcing department to reduce expenditures by $3M? The answer is obvious and that’s why aggressive […]
