Hospital Telecommunication and IT Cost Savings with Jacqueline Oberst | E.12
The Healthcare Leadership Experience
Release Date: 03/22/2021
The Healthcare Leadership Experience
Flourishing supplier relationships can transform healthcare organizations. Samer Haddad, shares his experience of building and navigating successful partnerships with Jim Cagliostro. Episode Introduction Samer explains why trust is the foundation of all successful supplier relationships, the importance of human-to-human connection and why a partnership sometimes means giving your partner the benefit of the doubt. He also outlines the key to a successful exit strategy (plan, plan, and plan) and why solid leadership means treating others as you want to be treated, and leaving...
info_outline Waste in the Hospital Supply Chain | E. 105The Healthcare Leadership Experience
An estimated 40% of expenditure in the supply chain goes to waste. CEO Luká Yancopoulos explains to Jim Cagliostro how Grapevine Technology aims to put the power back into the hands of hospitals. Episode Introduction Luká explains how Grapevine can help hospitals save up to 80% on a single line item, how even small healthcare businesses spend six figure sums on the supply chain each year, and how to frame the reality of years of overspending to his clients. He also reveals three key ways that hospitals can lower the expense of their vendor management. Show...
info_outline Using AI to Enhance the Hospital Supply Chain | E. 104The Healthcare Leadership Experience
The US healthcare sector has struggled to put innovations like AI into practice. Mara Cairo explains the advantages of applying machine learning and AI for hospitals to Jim Cagliostro. Episode Introduction Mara explains why the first step towards successfully embracing AI is literacy, the challenges hospitals face in system integration and why AI isn’t intended to replace humanity in patient care. She also illustrates the benefits of AI for healthcare, including predicting patient no-shows, effectively managing inventory, and reducing costs, and explains why successful...
info_outline Data and Research in Healthcare Analytics | E. 103The Healthcare Leadership Experience
2024 has been described as a financial ‘’make or break’’ year in healthcare. SpendMend Research Supervisor Zachary Markham explains to Jim Cagliostro why time and data are money for hospitals. Episode Introduction Zach explains why the lack of timely, accurate data can delay recovery of credits, and why most hospitals only have 50% visibility into their spend and accounts payable processes. He also shares why duplicate payments and credit on spend are the top two methods for recovery of costs, and highlights how uncovering dark data saved SpendMend clients $413...
info_outline Workforce Development: Building the Next Generation | E. 102The Healthcare Leadership Experience
US healthcare is facing a severe shortage of workers at every level. 6.5 million are expected to leave their jobs by 2026. Geoffrey Roche addresses the challenges in building a new workforce with Jim Cagliostro. Episode Introduction Geoffrey highlights the impact of the current staffing crisis in healthcare, and why leadership needs to evolve from a transactional to a heart-centered approach. He also explains why delays to access in care can cost hospitals up to $1 million every month, how one community college turned away over 13,600 qualified students from a program, and...
info_outline Sufficiency in the Midst of Uncertainty | E. 101The Healthcare Leadership Experience
Tom Pierce, the President of Integrated Information Systems Incorporated provides valuable insights based on his diverse background in problem-solving, logistics modeling, and consulting. Introduction Our guest, Tom Pierce, the President of Integrated Information Systems Incorporated provides valuable insights based on his diverse background in problem-solving, logistics modeling, and consulting. The episode explores the impact of technology and human behavior on the supply chain, challenges in decision-making related to expenses and stock management, and the importance of...
info_outline Healthcare Cost Savings: Surprises & Predictions | E. 100The Healthcare Leadership Experience
After 25 years and $1 billion of hospital cost savings, Lisa Miller is joined by Rich Dormer, Bryan Covert, and Pandu Mitre to celebrate this landmark episode of THLE. Episode Introduction Together, the team discuss the cost savings surprises of 2023 and look forward to 2024. Insights include the two-tiered approach to cost savings goals that all hospital leaders might want to consider, and why difficult vendor negotiations will continue in 2024. The team also review the potential impact of AI on cost reduction, why finding hidden costs always comes back to line-item...
info_outline Challenges and Trends in the Healthcare Supply Chain | E. 99The Healthcare Leadership Experience
After labor, the supply chain is healthcare’s biggest expense. Randy Subramany, Director of Supply Chain at New York Presbyterian Hospital, shares insights into 2024 trends and innovations with Jim Cagliostro. Episode Introduction Randy explains why there’s more to his role than ‘’bandages and gauzes’’, why people are the most important element of the ‘’three-legged supply chain barstool,’’ and highlights why patient care, decision-making and retaining talent are the top supply chain challenges. He also explains why it takes an eco-system to keep people...
info_outline $1 Billion in Hospital Financial Improvements | E. 98The Healthcare Leadership Experience
A focus on frontline innovation has kept VIE Healthcare at the forefront of hospital cost savings for 25 years. Lisa Miller shares her formula for success with Jim Cagliostro. Episode Introduction Lisa outlines how getting to the line-item details in purchased services was the key to early success, the ‘what-if’ questions that led to patents, and why hospitals should never settle for 10% in savings when digging deeper might lead to 25%. She also explains why letting the data speak takes the emotion out of vendor meetings, and why hospitals need to work with companies...
info_outline Coaching for Healthcare Leadership | E. 97The Healthcare Leadership Experience
Healthcare is in a time of radical and rapid change. Alan Weiss explains to Lisa Miller why coaching is a sign of strength and how all healthcare leaders can benefit from it in an ‘’age of great transition.’’ Episode Introduction Alan explains why the best time to start something is always now, and how the most successful people in every field of life engage a coach to help them achieve their goals. He also explains why there are only ‘’new realities’’, rather than a ‘’new normal’’, why innovation has to come from the frontline, and shares his predictions...
info_outlineWhy your hospital needs a high-level action plan for cost management in telecommunication and IT spend.
In Episode 12 of The Healthcare Leadership Experience, Lisa is joined by Jacqueline Oberst, Business Intelligence Officer and Telecommunication & IT expert at VIE Healthcare® Consulting. Together, they discuss hospital telecommunications and IT cost savings.
As Jacqueline comments ‘’Hospitals will think that because billing is consistent each month, there are no billing errors. But we’ve found that consistent billing … year over year … doesn’t guarantee that.’’
Jacqueline has over twenty years of experience working with hospitals to help them identify cost savings. She is also the author of The Total Telecom Management for Healthcare.
Today’s episode is sponsored by Invoice ROI™, the only patented purchased services and indirect spend technology to manage, monitor and benchmark line item details.
In this episode you’ll hear:
The proven strategies specific to healthcare to ensure accurate and best-in-class pricing — and the four primary areas where telecommunications and IT savings can be achieved:
- Contract optimization.
- Service and subscription optimization.
- Compliance monitoring.
- Demand management.
Why benchmarking is critical to your cost savings in IT and telecommunications and why hospitals must understand the guidelines around CPI increases. ‘’A lot of vendors will add 7-8% annually per increase.’’
Strategies to avoid the ‘’maintenance cost money pit’’, for instance:
- Why the maintenance cost must reflect the cost of the asset, not its detail value.
- If hospital agreements are based on user license counts, it is important to ensure you have the correct number of licenses that you’re paying maintenance for. ‘’I never ever allow hospitals to … incorporate speculative growth.’’
How to break down the big ‘’fee bucket’’ of professional services charges.
Effective cost savings strategies for IT and telecommunication costs including, maintaining a line-item inventory, duplicate coverage, changes in utilization and negotiating renewals mid-term.
Connect with Jacqueline:
📚Download the book: viehealthcare.com/total-telecom-management-for-healthcare/
Connect with Lisa:
Check out this episodes sponsor:
🖥 viehealthcare.com/category/invoice-roi/