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 - March 11, 2009
Robert T. Yokl
President & Chief Value Strategist
When Every Penny Counts
Greetings,
I reviewed a list of savings opportunities with a small rural hospital client’s CFO recently and I told him I was disappointed that we only found $226,926 (3% Annual Supply & Purch. Svcs.) in new savings for him. He told me that he wasn’t let down by the results for the reason that “every penny counts” at his healthcare organization. In most years, this figure would equal his bottom line.
This CFO’s response shocked me, since I didn’t realize how thin most hospitals’ bottom lines were each and every year. However, it reinforced my philosophy of how important it is for supply chain professionals to save each and every penny that they can to improve their hospital’s bottom line.
Remember: It requires about $33 dollars in new revenue to produce just one dollar in new profits for your hospital. It only takes one dollar in supply chain savings to have the same bottom line effect. That’s why this CFO was pleased about the savings opportunities we uncovered for him, since it is nearly impossible for him to generate new revenues in our current economy.
Now that you know that “every penny counts” at your healthcare organization, supply chain professionals can become heroes by squeezing the towel dry in supply chain savings one penny at a time.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. If you are looking for ideas to save even more pennies, I invite you to download my “Building a Savings Factory” White Paper to get your savings engine into high gear.
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P.P.S. I want to remind you to take a look at our latest version of our Utilizer Dashboard Software today. You have to see how this software tool will give you fast, efficient and easy to use low cost tool to help you drive out all of your savings beyond price then you need to take a look at the Utilizer today! You have to see the Utilizer to Believe it!
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