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To Cut Hospital Costs, Leverage Vendor Relationships

Karen Minich-Pourshadi, for HealthLeaders Media, May 9, 2011

Although Gordon Hospital works with a group purchasing organization for many of its supplies, their process assessment clarified that it was using too many vendors. A situation they corrected by narrowing five vendors down to a single vendor. The change has made the process of ordering and tracking supplies easier and more efficient.

"Having a vendor get so highly engaged in what our needs are and helping us [reach our goals] made us feel like a much bigger fish, and it's saved money," adds Aaron.

Though Reeves and Aaron may not put the formal tag 'supplier relationship management' on their interaction with the vendor, Gordon Hospital applied one of the key principles to SRM: It leveraged the vendor's expertise to help attain the hospital's goal of cost reduction.

 


Karen Minich-Pourshadi is a Senior Editor with HealthLeaders Media.
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