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There’s a great deal at stake in hospital sourcing and the management of medical supplies. A focus on lowering costs by standardized purchasing of drugs or devices can’t come at the expense of compromising high-quality care.
In the past, hospitals had one role: deliver care. But in recent years, some of the largest hospitals and health systems have assumed the financial risk of delivering care. In the past, hospitals had one role: deliver care. But in recent years, some of the largest hospitals and health systems have assumed the financial risk of delivering care.
Embracing consumer-oriented healthcare, some providers are voluntarily adopting price transparency, while some insurers balk at proposed mandates to disclose their rates.
For now at least, the employer mandate isn't going anywhere. But small businesses are flocking to a new market, leaving behind traditional models.
Every organization looking at someone else's business thinks there is a tremendous amount of waste, and believes they could do it better if given the opportunity. This is just as true in healthcare as any other industry.
Many health insurers have spent close to a century operating under fee-for-service and are now changing course. Some new payers founded post-health reform, however, are trying to hit the value-based ground running.
Of all the things to try to build a better business for in healthcare, the nation's fourth-largest Blue Cross insurer is focusing on one of life's most crucial processes.
Two health systems set to merge want to "reimagine" healthcare and bring it to the masses, and in a fairly crowded metropolitan area they need economies of scale.
Insurance industry margins are only about 5 to 6 percent and it is a notoriously difficult business to run. Still, providers are increasingly moving into the insurance industry, and for some, it has been a good addition to their business model.
The ideal prescription for hospitals wanting to reduce their pharmaceutical costs could be tighter controls and staying on top of shortages.