Standardization Of Healthcare Supplies In Healthcare Organizations

1244 words - 5 pages

AbstractResearch has proven that the healthcare organizations need to be more attentive to their code pricing list in order to avoid over charges and low revenue of their supplies and encouraging their staff members to utilize one vendor will decrease costs. Quarterly inventory was examined to decipher the problem. Spreadsheets (graphs) were also conducted to provide a complete view of where the losses occurred. The research has proven that regular inventory of supplies, minimal vendors, and update of code pricing list is mandatory in eliminating or decreasing high cost. More in depth information is discussed.Feeling overwhelmed with requests for a huge variety of medical supplies, then you're not alone. The biggest expense in the medical industry is having multiple manufacturers for one product. This forces hospitals to seek savings opportunities at different levels. One opportunity for substantial cost savings most hospitals consider is the knack to control the expensive products highlypreferred by doctors (Fine, 2004).Today, Healthcare organizations thrive to cut supply costs by the standardization of their product usage. The secret to successful product standardization is making certain that the process includes all stakeholders ( A number of organizations have found that it helpful to also have a product standardization committee. The committee should include knowledgeable physicians partake in the technology assessment product standardization committee; to empower the physicians who are not willing to comply. The committee should also have a physician from different services, focusing on high-dollar physician preference products. This allows for new products to be presented to the committee for review, consideration, and approval on a monthly basis (Fine, 2004).The key to assuring cost savings through product standardization is to appropriately educate doctors about the vital role they play in this process. Communicating the cost implications for the organization to the physicians cansometimes motivate the physicians to ensure compliance (Golden, 1997). As founded in Fine (2004) this can be accomplished by:Distributing data regarding cost and quality of alternatives.Demonstrating superior benefits, including reduction in variation and chance of errors.Providing both financial and non-financial incentives to doctors to gain their support in standardizing.Evaluation criteria for consideration should also be formed in the committee. This should show the general product, usage information, and product evaluation standards.Methodology:Purpose:To establish standardize pricing for supplies used during procedures according to the current rate payable by insurance in accordance with CPT-9 procedure codes.Method:The current pricing system charges a twenty-five percent fee to the supply price used during service. The price list has not been updated in three years. The function of standardizing the price is to...

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