Business Issues
Effective means used to reduce costs
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Q. What are the most effective means you use to reduce costs?
Conduct planned reviews of all contract services to include laundry and linen, as well as preventive maintenance contracts. It's important to always review these items and seek competitive pricing to ensure your vendors are working with your center as a member of the team.
2. Craig J. Bakken, CMPE, CEO; Rocky Mountain Gastroenterology Associates, Rocky Mountain Endoscopy Centers, Lakewood, Colo.: As the manager of three 'mature' ASCs performing outpatient endoscopy exclusively, I find internal and external benchmarking to be the most effective tool for identifying opportunities to match cost with volumes. Secondly, you have to go back to vendors and renegotiate for both services and supplies on a regular basis especially if you are bringing them significant volume.
3. Brian Brown, Meridian Surgical Partners, Brentwood, Tenn.: Empower employees to own savings efforts. Since your employees are in the trenches every day and can impact costs on a day-to-day basis, empower them to save your business money. Then, reward them greatly for success. The outlay of cash you have to spend to empower your employees will pale in comparison to the cost savings you receive. |
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