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Healthcare Facility Cost Saving Myths Exposed

Healthcare facilities savings approaches are by some considered mere myths. We have constructed a myth versus reality table below. By examining the table below our hope is that this will provide insights for a more clear understanding. True healthcare spend reduction is there but making the right choices that do not affect the quality of services rendered to your patients and staff is a necessity.Myth Busted

After reading the table below, please consider contacting our hospital consulting firm. We welcome your feedback and are eager to be of assistance in helping guide your healthcare operation on the path toward well planned cost reductions.

Myth Reality
By moving to self op/ by outsourcing I will save money The decision to move to self op or to outsourcing is complicated. Both can be true or false. The decision should be based on key timing, resources and quality factors
There is no savings in support services without impacting service or quality Soriant reduces operating costs by an average of 12%, while enhancing service and quality…Guaranteed
My service contract cannot be renegotiated during the term of the contract Soriant regularly negotiates service contracts & saves $600K to over $1 MM, while implementing processes to enhance vendor performances related to patient satisfaction & quality
The vendor’s fees are only for admin and support fees Vendors make money from purchasing, benefits, third party service contracts. Soriant is able to determine the total vendor income down to a few hundred dollars
I don’t want to lose my vendor service management team by moving to an RFP or a renegotiating strategy The management team can, with proper negotiations, stay in place and still enhance service and reduce department operating costs by using Soriant accountability tools
Hospitals can expect to self-implement savings opportunities Hospitals achieve an average of 30% of savings vs. Soriant’s documented 112% of savings projections
Assessments to evaluate our savings potential are timely and expensive Assessment can be done at no cost* as all labor fees can be credited to implementation
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