According to a Community Hospital Corp. case study, CHC Consulting identified opportunities and initiatives to cut costs and streamline operations, such as the following six in the supply chain and labor management areas:
• Implementing inventory reduction targets
• Returning all overstock inventory to vendors for credit
• Identifying and getting rid of obsolete inventory
• Establishing par levels for all supplies based on current patient volumes
• Implementing a productivity reporting system
• Using existing human resources more effectively
Hillcrest’s team worked with CHC to implement the initiatives. As a result, the system saved more than $16 million, according to the case study.
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