Could You Save $3 Million By Putting Your Budget on a Diet?
A few other keys to success at Floyd Memorial, Donatelli says, are their:
- Ability to gather the data necessary to make decisions quickly.
- Creation of a consistent documentation process to help support decisions.
- Consistency and support from executive leadership of the program.
- Enthusiastic management of the program, including visual reminders such as posters that included their guiding principles, for the rest of the staff to see.
- Healthy competition; by having each team report out their supply stats and encouraging them to do better than their peers.
"You gotta keep it fun and interactive and look for creative ways to keep your staff engaged. After all, they are really not there to save the hospital money; they're there to save lives," she says.
As with all diets, once you've lost the weight your battle isn't over. Generally you must look for ways to tone up and maintain your loss—which is why Floyd Memorial's people don't intend to rest on their laurels. Miller says they are continuing to look at other non-salary cost reduction opportunities, including those around purchased services and physician preference items to drive long-term, sustained results. Now that's an approach that should keep their facility lean for many years to come.
Note: You can sign up to receive HealthLeaders Media Finance, a free weekly e-newsletter that reports on the top finance issues facing healthcare leaders.
Karen Minich-Pourshadi is a Senior Editor with HealthLeaders Media.
- Antibiotic Overuse a 'Huge Threat' to Patient Safety, Says CDC
- 3 Traits Personality Assessments Can't Reveal
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- CHS Hacked, 4.5M Patient Records Compromised
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- Business Roundup: M&A Activity Down Slightly in First Half of 2014
- CFO Exchange: Healthcare Leaders Share 5 Innovative Ideas
- Large Employers Trimming Healthcare Spending
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- 3 Things the Ice Bucket Challenge Can Teach Hospital Marketers