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Find out how to solve healthcare's $5 Billion inventory waste problem today. Then get back to the ridiculous gifs we found this week. 

Healthcare Leaders Looking For Quick Savings Opportunities | Five To Save

9/1/2020

The Z5 Piggy Bank sits in a pile of shredded money to illustrate how hospitals are losing cash during the coronavirus crisis. 

It's shocking that industry leadership is looking for easy wins when it comes to financial solvency.

It's not actually shocking. That's basically the case all the time, and it's especially the case as hospital systems are hemorrhaging billions of dollars due to COVID-19 restrictions. We were trying to be sarcastic, but this one - like many jokes these days - just came off as depressing. And for that, we apologize. 

(Speaking of depressing: that lovable little scamp Macaulay Culkin just turned 40.) 

This week we do have some good news, though. Because we ran across an initiative that enabled one hospital system to save $16 Million in six months

We ran across it because we helped create it. 

  1. Our partners at Steward Health Care hospitals across the country were able to redistribute their excess medical and surgical supplies so efficiently that they donated nearly $3 Million worth to charity

  2. That seems like a relatively simple, relatively quick way to start addressing the top concern of healthcare leadership: hospital revenues declining. 

  3. A big part of why supply chains - especially in health - have continued to be inefficient and inflexible is that they're still reliant on strategies developed in the 90s. As in before mobile devices or advanced analytics or inventory solutions that leverage both

     

  4. But we can't blame everything on supply chain. We can't blame suppliers or vendors or managers. Because, doing it all on your own under adverse circumstances , you can only do so much. You need support. Resilience is overrated

  5. And, above all, we cannot let economic interests interfere with the delivery of healthcare to our communities. 

If we've learned nothing else from this pandemic, let it be that. 

 

Sign up for our Five To Save newsletter for more news & more info on that big Steward Health Care success story than we included here. 

 

 

Topics: selling medical inventory, reallocation, savings, five to save, healthcare logistics, buying medical supplies, steward health care, hospital supply chain, coronavirus, covid-19, case study, success story

Alex Diamond

Written by Alex Diamond

Raised in the armpit of East Texas before escaping to the civilization of Austin, Alex is an author and former radio/podcast personality. If you ever run into him, ask him about the day he split his pants in front of the Lone Ranger.