Cost Optimization Triage
Health systems are laser focused on getting every dollar out of fixed and variable operations. This focus can create opportunities that begin to leak money to the tune of 10%-15% of total operating overhead.
The Value Assessment quickly identifies easily realized areas of cost savings by using readily available client and vendor information. These targeted cost savings opportunities require little or no capital and minimal resources.
Health systems have minimal costs, retain 65% of the first-year savings and all subsequent years’ savings.
The Value Assessment will utilize 1-2 days of the clients’ accounting administrative person to collect these documents and 4-weeks of the GlideNet Triage Team to produce an Executive Management Cost Optimization Action Plan. This Action Plan will likely span the following 8 specified tracks.
Cost reduction thru lighting & mechanical retrofits
Fee recovery, reduced card processing fees and increased security
Reduce cost via improved contract compliance over subcontractors
Improve employee health, reduce pharma cost, ensure dependent eligibility
Reconcile locations, accounts and meters to ensure correct rates and billing
Reduce cost from under/under-utilized applications and licensing reconciliation
Cost recovery and invoice processing improvements
Enhancing vendor support & equipment performance
Value Assessment Process
The process is performed at minimal cost to the client and begins with the client selecting the Tracks to be analyzed. Per these selections, GlideNet will request access to their General Ledger, Accounts Payable and possibly additional internal and external documents depending on the Tracks selected. We will take this data and create a Spend Matrix providing cost savings opportunities. The client will select the opportunities for implementation and tracked by GlideNet.
The Triage analysis requires the execution of a contingency agreement in the event any of the recommendations are implemented and produce the forecasted savings.This commercial agreement mitigates all risk of investing in projects and programs that don’t generate the expected financial impacts.
The Triage Program has been developed to support many health systems across the United States.
The Triage Program has saved clients hundreds of millions over the past 15 years. The companies listed here are a sampling of the clients the have engaged in the process and are still enjoying reduced cost and improved profitability.