Modern Healthcare June 12, 2020
Alex Kacik

Finance administrators at healthcare providers will continue to cut costs as they navigate the fiscal uncertainty wrought by COVID-19, according to a new survey.

Ninety-five percent of finance administrators said their organizations were likely to roll out cost-saving initiatives, according to a mid- to late-May Bain & Co. poll of 441 front-line healthcare workers. Equipment and supplies purchases were the primary target, followed by increasing physician awareness of costs and renegotiating contracts.

“Finance administrators are pulling hard on a set of procurement levers, whether that’s on med-tech purchases, pharmaceuticals, supplies or physician-preference items,” said Michael Brookshire, a partner with Bain & Co.’s healthcare practice and co-author of the report, adding that they are also looking at reducing hours, bonuses and...

Today's Sponsors

LEK
ZeOmega

Today's Sponsor

LEK

 
Topics: Health System / Hospital, Provider, Supply Chain, Survey / Study, Technology, Trends
AstraZeneca plans independent drug supply chains for US and China, CEO says
Vitality in the Supply Chain: The Limitless Potential of ATMPs
Red Sea Shipping Disruptions Don’t Have Pharma Companies Seeing Red Just Yet
Managing Uncertainties In Cell And Gene Therapy Supply Chain
Supply chain trends and challenges: Cell and gene therapies

Share This Article