The Truven Health Blog

The latest healthcare topics from a trusted, proven, and unbiased source.

 
By Truven Staff

A Balanced Cost Improvement Process is Possible

More cost-effective monitoring in the provider business is always good, and a recent Wall Street Journal article highlights this. Sustainable improvements require thoughtful, in-depth analysis and action. Preserving value add spending versus reductions of unnecessary costs is crucial for sustained advantage. Rational consideration of the work flow process supported by external “better practice” benchmarks is crucial. Kudos to Newton-Wellesley for their balanced cost improvement process. Bottom line – their results showed $5M in savings, 15% increase in patient satisfaction and 3.4% improved internal service quality.

Phil Gaughan
Senior Director of Operational Improvement
3599

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