Hospitals Face Mounting Pressure to Control Business Spend

Hospital business spend practices are experiencing a powerful shift as the industry goes deeper into value-based care and risk-based contracting. As a result, healthcare organizations must transform their business spend management (BSM) processes, especially in the areas of indirect spend and waste.

In a recent HealthLeaders Media Buzz Survey, sponsored in partnership with Coupa, a provider of BSM software, 110 hospital and health system leaders revealed their top business spend concerns. According to the survey, healthcare organizations are concerned or very concerned about process inefficiencies (93%), thinning margins (92%), visibility into indirect spend (87%), finance controls (74%), and spend risk-supplier fraud (65%), among other areas.

Survey respondents also shared insights into key waste areas, important technologies for managing indirect spend, and cost-cutting strategies they plan to deploy over the next two years.

Download the free Custom Research Report now to uncover the results!