Savings Beyond Price™
Innovative Supply Savings and Quality Solutions That Work
by Strategic Value Analysis® in Healthcare
Did You Know...?
That Value Analysis Was Developed Back In the 1940's After World War II as a Way to Find Lower Cost but Higher Quality Alternative products and methods. This was Due to the Lack of Material Resources At The End of The War.
Savings Beyond Price -Weekly eNewsletter - Janurary 4th, 2011
Robert T. Yokl
President & Chief Value Strategist
Build a Case for Change in 2011
Greetings,
Taking cost out of your healthcare organization’s supply chain in 2011 is more important than ever before due to the phased implementation of ObamaCare this year. One of these changes that are coming about this year that bothers me the most is that insurance companies must hold their administrative costs down to 15% to 20% of their medical claims.
Since most healthcare organizations have been surviving on the higher reimbursement from these insurance sources, not from their slim, if any, Medicare and Medicaid reimbursement, it could be catastrophic if these sources of income are dramatically reduced. For instance, two insurers have already dropped their single-children’s coverage and one carrier with one million customers has gone out of business altogether.
Not to mention that there will be $500 billion dollars in Medicare cuts, over 10 years, and a 2.3% excise tax on drugs and medical devices starting 2014.
These are just three changes of the hundreds of changes that will affect your healthcare organization’s financial health in the next decade. These are the facts that you should be utilizing to build a case for change at your own hospital, system or IDN starting in 2011.
Now that ObamaCare is a reality, you can actually see the face of healthcare changing right before your eyes. You should make it your job to spread the word about these changes so that your department heads and mangers can get a vivid picture of what their future will look like. Then when they requisition a new product, service or technology ask them how they are going to pay for it in the new healthcare economy.
Our Congress likes to use the term “PayGo” or pay-as-you-go forward with any new expenditure. I think we all need to learn to use this term in healthcare too or the effects of ObamaCare will drain our healthcare organizations’ financial healthcare -- beyond repair.
Warmest Regards,
Robert T. Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
Bobpres@strategicva.com
1-800-220-4274Your Partner In Savings Beyond Price™,
P.S. P.S. We are very excited about our new BenchPlus™ Purchase Service Manager that can benchmark all of your purchase services. You might want to check it out at www.BenchPlus-Manager.com
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