How Healthcare Providers Can Better Respond to Industry Disruptors Through Strategic Cost Reduction
Non-healthcare innovators such as Amazon, WalMart and Google are rapidly leveraging retail delivery of healthcare services, and effectively shaking up the industry by providing consumers alternative ways to access care. CVS Health’s expansion of MinuteClinics and intention to buy Aetna are just a few examples of recent moves disrupting the healthcare industry. Amazon also made […]
The Cost Reduction Strategy You Need for A Healthier Bottom Line
If your organization isn’t one of the 70 percent of U.S. companies providing an employee wellness program, you’re missing out on significant bottom line cost savings. More than that, you could also be missing out on recruiting and retaining top talent, and on creating a more engaged and productive workforce. A recent study by the […]
Cost Reduction Initiatives Ranked Top CFO Priority
Cost reduction tops the list of priorities for healthcare CFOs in 2018, according to a recent survey by Kaufman Hall. Close to 30 percent of senior finance executives cite “identifying and managing cost-reduction initiatives” as the most critical performance management function. The survey, which featured responses from senior finance executives from more than 350 hospitals, […]
Healthcare Industry Update: Uncovering $40,000 in Savings
We’ve shared in the past how we have worked to find savings for businesses in the health care industry. When Silverback partnered with a large medical practice, we were able to cut expenses for the practice by over $400,000. All of this was found without disrupting the day-to-day operations of the medical group. Silverback recently […]
Case Study: Cost Reduction for a Physician Practice
Imagine, if you will, a medical practice with: · 130 physicians · 650 employees · 65 practice locations Each with its own processes for purchasing and spending. Is it possible to cut costs across the board, and get the various locations operating affordably and efficiently? We did just that for one mid-size physician owned practice […]