4-step plan to cutting ASC supply costs

To reduce expenses, ASC administrators should understand that 80 percent of costs are driven by the top 20 percent of spend, according to Encompass Healthcare Data Solutions.

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Four steps to applying this principle to vendors and items purchased:

1. Run an accounts/payable report and sort vendors by annual spending.
2. For each vendor in the top 20 percent, run usage reports.
3. Identify line items in the top 20 percent for annual spending.
4. Use this information to ensure you are leveraging every possible contract through your group purchasing organization.

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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

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