Paring down expenses at hospitals can be done efficiently by looking at monthly line items.
According to SIB Development and Consulting, there are 13 areas ripe with fixed cost reduction opportunities within hospitals.
• Waste removal
• Telecom
• Bank fees
• Vendor maintenance contracts
• Utilities
• Insurance
• Workers compensation
• Property taxes
• Lease and common area maintenance
• Work opportunity tax credit
• Office supplies
• Freight and shipping
• Credit card processing
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Modernizing the Supply Chain in an Era of Healthcare Reform