When healthcare organizations face margin pressure, the first instinct is often to turn to purchasing. After all, procurement teams manage contracts, negotiate pricing, and keep the supply chain running. But here’s the truth: margin improvement is a strategic initiative that goes far beyond buying smarter. At Healthcare Margin Specialists (HMS), we’ve spent 17 years helping […]
The premise of using a Group Purchasing Organization (GPO) is cost savings. But as we discussed in part 2 of this series, that promise isn’t always fulfilled. This idea leaves many people asking, “Can I negotiate with my GPO? And if so, should I even try?”. A common myth that long-term care communities believe is […]
Introduction The premise of using a Group Purchasing Organization (GPO) is cost savings. But is that promise fulfilled? When was the last time you’ve considered whether your relationship with your GPO is still working for you? A common belief of organizations we speak with at Healthcare Margin Specialists is that working with a GPO means […]
For most long-term care communities, using a Group Purchasing Organization (GPO) is a standard part of operations. But have you ever wondered how GPOs actually work? Or whether the role they play in procurement is beneficial to your organization? At Healthcare Margin Specialists, a common question we get asked is whether we’re simply another GPO. […]
We’ve all heard about things “moving to the cloud” but what does that really mean? Essentially, if the “brains” of a service exist on the internet and not at your physical location, it’s in the cloud. (If there is hardware involved, it’s probably telecom services, instead.) This growing category of expenses includes license-based services such […]
You can’t watch or read the news, listen to a podcast, or scroll through your social media feed without being bombarded with facts and opinions on the economy. The pandemic did a number on the economy, and there are a number of measures being put into place to “correct it.” But let’s be honest, inflation […]
Saving money on your telecom services contracts might feel as likely as winning the MegaMillions. Between hidden fees, term changes, and confusing contract structure, the layers of complexity can feel crippling. Soon enough, you’re just resigned to the fact that you don’t have the time, knowledge, or energy to understand the bill - let alone […]
The relationships that long-term care residents form with their therapists play significantly into their quality of life. To the resident (and often to your staff), whether the therapist is an employee or an outsourced contractor is irrelevant. The emotional bond is there. Which means that reviewing therapy contracts in an unbiased way can feel nearly […]
You did it! You just signed a contract for one of your major operating expenses for your long-term care community – and you are actually happy with the results. After all that work and negotiation, you’re ready to sit back and put things on autopilot for the next few years while the contract plays out. […]
When it comes to the cost of food at a long-term care facility, it’s easy to feel stuck between a rock and a hard place. As the largest recurring expense outside of payroll for most facilities, it’s a place you’d love to find some savings. But you know that food can make or break the […]
