Hospital IT Expenditure Optimization – Software Renewal Savings Report Launched
Most sectors, including healthcare, were forced to revisit their use of technology during the pandemic. With IT-related expenditure likely to increase, the consultancy’s latest piece looks at pricing structures, cost calculation methods, and unnecessary spend.
More details can be found at: https://viehealthcare.com/how-to-manage-your-it-healthcare-spend
Through its new analysis, VIE Healthcare Consulting explores some causes for inefficiency when it comes to IT budgets. It offers hospitals an insight into some of the methods used to streamline operational expenses, which can lead to significant savings.
Gartner Research forecasts that IT spending across the healthcare sector will increase by 6.8% this year. Alternative approaches adopted during the pandemic, such as telehealth, are likely to continue into the future. There is also a renewed focus on advances in AI, RPA, digital workplaces, and cloud computing.
Given the pace at which new technologies are being deployed, VIE Healthcare suggests that many organizations may accept contractual agreements that are not optimized for their operation. As an example, the new report states that a 200-bed hospital will have very different requirements when compared to a 2,000-bed facility.
The author states that this is where an opportunity for cost savings exists. Readers are informed that pricing structures may be devised on projected rather than actual volumes. The report advises that a breakdown of vendor pricing can often reveal areas for cost reduction.
In addition, the methods used to calculate costs may be inappropriate. The new piece provides an example of software licenses, which in many cases are not required or underutilized. The full report provides additional details on unnecessary spend as well as understanding renewal terms.
About VIE Healthcare Consulting
Established in 1999, VIE Healthcare Consulting now comprises a team of cost savings experts, data scientists, technology specialists, and healthcare business analysts. The consultancy uses patented technology, known as Invoice ROI, to help hospitals optimize their purchased services expenditure. To date, they have achieved over $750 million in savings for clients.
A company representative stated: “We offer the industry’s only cost savings strategy that is a proven framework for mining every cost savings opportunity at your organization. We achieve best-in-class pricing for products and services.”
Interested parties can learn more by visiting: https://viehealthcare.com/purchasedservices
VIE Healthcare Consulting
VIE Healthcare Consulting
2111 New Jersey 34
Catherine West is a Labour Party politician in the United Kingdom. She was first elected as the Member of Parliament for Hornsey and Wood Green in May 2015. She writes stories as well as news. She wrote number of book.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Acumen Digest journalist was involved in the writing and production of this article.