How Well Are You Actually Managing Contracts? | Prodigo Solutions
March 2, 2016

How Well Are You Actually Managing Contracts?

By Michael DeLuca - EVP of Operations
By Michael DeLuca - EVP of Operations

Publication by HealthCare Business News

Health systems have two options for increasing profitability — attack costs or chase revenue. For many, attacking costs is an easier path to financial stability because accountable care and declining reimbursements make chasing revenue extremely difficult. On the attacking costs side of the profitability equation, the cost of supplies and third-party services are the second-largest expense after labor. Many health systems are nowhere near close to tapping the full cost-savings potential, leaving millions on the table.

Squeezing more savings from your supply chain starts with effective contract management. It’s the front line of the battle. The reality is that most health systems stop after expending a great deal of effort negotiating and signing contracts. Due to the complexity of the health care supply chain — with thousands of contracts from different sources — contracts generally are not managed at all or are managed very little.

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About Prodigo Solutions 

Prodigo Solutions is a healthcare technology company that improves providers’ financial control and reduces supply chain cost. Prodigo Solutions’ technology was purpose-built for healthcare by supply chain experts to deliver tangible results across a continuum of care. Customers who use our systems purchase more than $23 billion annually for the more than 700 hospitals they operate. 

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Prodigo Solutions’ Marketing Department

Michael DeLuca
EVP of Operations