When you work in the medical field, you may be looking for a way to save money without compromising the care offered to your patients. One idea is to hire a healthcare cost reduction specialist. The following guide gives you an idea of what to expect when hiring a healthcare cost reduction specialist.
Data collection is the first step of the process because it is required to complete a full analysis. Your specialist starts by identifying your current distributor(s) and your key expenses. By pulling a 12 month history of expenses, listing products, volume and pricing for all supplies, your consultant can establish a solid baseline of your specific practice and where and on what you spend on an annual bases. This baseline of current products purchased is important for identifying saving opportunities and plans for helping you save money.
The next step of the process is a customized analysis of your current product usage and pricing. This analysis is key to outlining your savings plan, providing line item detail on what you are currently paying and the core opportunities for saving. Their expertise is in knowing what the best pricing available by item is and how to get it while maintaining current relationships with suppliers and/or distributors.
Implementation is the final step of the process. Your consultant does the heavy lifting to secure the best prices and service. That’s what you pay them to do, so you can continue to focus on you patients. You continue to buy the same products, through your same distributor, only at the right price.
If you decide to hire a healthcare cost reduction specialist, you may want to consider CuraSpend. You can learn more about they can help by visiting