Fact File

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Service Line Success Drives Enterprise Improvements

August 2019

Health systems must develop the right strategy by service line for their market and population. Market factors like population growth, changing disease prevalence, macroeconomic and microeconomic trends such as gross domestic product, employment rates, high-deductible health plans, consumerism, federal policy changes, new technology that changes care delivery, and care coordination factors affect the demand for service lines in their market. Understanding service line trends is key to anticipating growth opportunities, utilization, and site of care shifts in the market, and building a strategy to compete.

Successful service line management requires both vertical and horizontal alignment within the hospital across stakeholders, departments, and goals as well as across all sites of care.

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Reducing Operating Room Supply costs

May 2019

Health care systems continue to feel the pressure to reduce spend. Payment models are moving from fee-for-service to bundled programs. Since the operating room (OR) accounts for 40 to 60 percent of supply spend and must cope with the constant demand for new technology, a solid strategy and a collaborative environment are required to keep OR costs down while improving patient outcomes. Successfully maintaining high-quality care while reducing surgical costs requires that health care executives, staff and surgeons be aware of OR expenses and participate in cost reduction strategies.

Vizient® formed a Reducing O.R. Supply Costs Collaborative with 12 participating health systems to focus on lowering OR expenses and identifying tools to help manage these costs and look beyond pricing.

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Performance Improvements Driven by Data Insights

April 2019

In today’s value-based care environment, visibility across the continuum is required to identify performance gaps and to create actionable insights that drive improved outcomes. Yet creating a clear, concise and sustainable clinical strategy that connects financial, operational and quality data is enough to make anyone see double. Data is often cited as the key to clarity. But, data is just the beginning of the improvement journey. It can only tell you what’s happening, but it can’t provide insight into why and what to do to get the right outcomes.

It’s when you connect procedure, supply and clinical data that the focus becomes clear. Yet creating a clear, concise and sustainable clinical strategy that connects financial, operational and quality data is enough to make anyone see double.

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Artificial Intelligence in Healthcare

February 2019

Confidence is high among health care industry executives that AI technologies will drive more access and affordable care.

Across the health care industry, providers, payers and other stakeholders have been challenged to reduce costs while improving quality outcomes, the patient experience, and care. Increasingly, artificial intelligence technologies are seen as the solution that will help the industry achieve these goals and move toward a better future.

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