Often times, healthcare organizations can locate savings by reviewing their vendor contracts, and SIB Development and Consulting provides six steps for the review process.
1. Work with current vendors to identify current service levels and contract terms.
2. Check for contract compliance, correct billing errors and obtain credits or refunds.
3. Identify service optimization opportunities.
4. Negotiate better rates and contract terms based on industry experience and benchmark pricing.
5. File paperwork and seek funds for antitrust and class-action cases.
6. Implement savings that do not change vendors or affect service levels.
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