Purchased services can account for 40-50% of an IDNs non-labor costs, but many organizations don’t have a clearly defined plan or strategy when it comes to dealing with this highly complex area. This discussion will allow for the free sharing of questions and answers to some of the most common and vexing purchased services challenges including lack of data insight and transparency, limited integration and span of control, and suppliers’ ability to adapt to changing needs and regulations so persistent in the healthcare setting. Participants will learn of strategies and resources to help uncover suppliers that support your values and objectives, provide transparency in both financial and operational areas, and collaborate with you to find the best solutions in regard to both cost and quality.

Learning objectives:

1. Demonstrate the importance of developing a clearly defined, comprehensive plan or strategy for managing purchased services, and be able to apply best practices and strategies to optimize cost and quality.

2. Explain strategies and practices to effectively evaluate suppliers and assess their ability to work in and truly understand the healthcare setting.

3. Explore methods for promoting collaboration and communication with suppliers, and develop skills for building effective partnerships to achieve mutually beneficial goals.

4. Uncover available resources and tools for managing purchased services, including technology solutions, data analytics, and other resources that can be leveraged to optimize performance and enhance overall organizational effectiveness.