How to track track and reduce supply costs is a constant struggle for labs everywhere and a question I'm often asked when speaking with lab executives. The reason I get this question is because lab execs are looking for additional ways to keep their their companies profitable. With competition diving the revenue per test down, and reimbursements getting lower and lower, labs need to keep a better pulse on everything…. including supplies.
The simple answer to reducing supply cost is to make sure every lab kit you send to a customer is sent back with a specimen. But how can you track supplies and orders together when you have one system for tracking inventory and a different system for specimen management?
That answer is also easy…as long as you're using the appropriate solutions! hc1.com is a healthcare cloud computing solution that unifies disparate information systems like LIS's and Inventory systems. Once the systems are unified, you can gain instant intelligence and access to lab analytics related to the supply-order relationship, which helps you proactively manage and improve your relationships with your clients while gaining a consistent understanding where supplies are and what the end result is.
In a recent article published by Beckman's Hospital Review, Clark Lagemann, VP of Health Options Worldwide, stated the importance of accurately tracking supply costs. Clark said, "After labor costs, supply costs are the second-largest money eater of a hospital's operating budget…… Additionally, approaching physicians and working together to create a more cost-conscious supply plan for every department can help foster a better working relationship with physicians in addition to supply savings."
Find out how hc1.com is helping customers rein in supply costs with an online demonstration from one of our experts.