Merkle Hash February 11, 2020
Brian Wallace

The United States spends more on healthcare than any other nation, yet hospitals are struggling. Today, 1 in 5 hospitals are likely to close due to finances, but hospitals could safely reduce supply expenses by nearly 18 percent without seeing a negative impact on quality of care. With the $11 million in annual savings hospitals would receive from this, 2 outpatient surgery centers could be built, and the salaries of 160 nurses or 42 primary care physicians could be funded. Other methods of cutting costs in hospitals include implementing artificial intelligence and restructuring supply chain management.

The University of Missouri (UM) healthcare system models this well. The university’s health facility reduces waste by centralizing its supply department. To do this,...

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