The Future of Hospitals With Better Supply Chain Management

One in five hospitals are at risk for closing amidst huge financial pressures that have left many struggling to afford the high cost of hospital expenditures which accounted for one-third of total spending. But, there may be a solution to save them. Three in four doctors and nurses are suggesting that the implementation of a better supply chain operation could be instrumental in saving costs. In fact, adopting supply chain efficiencies from other industries could save the healthcare sector up to $130 billion. Making these changes would allow hospitals to safely reduce supply expenses by nearly 18% without it impacting the quality of care given. With that money coming to $11 million in annual cost savings per hospital the surplus could then be used for more care that would do a greater good. For example, with $11 million two outpatient surgery centers could be built and the salaries of 160 registered nurses or 42 primary care physicians would be fully funded. Apart from just hospitals ‘Big Data’ could save the entire U.S. healthcare industry up to $450 billion annually. Find out more on how a better supply chain management could be the answer to struggling hospitals in the following infographic.