103: Focus on the Margins: Cost Reduction Strategies to Achieve Sustainable Growth
As hospitals and health systems continue to find ways to achieve sustainable growth in the landscape of accelerating changes, keeping an eye on cost is essential. Cost challenges are not new, but they may need to be approached a bit differently than they have in the past. This week, Sg2 Perspectives host Principal Jayme Zage, PhD, is joined by Sg2 Principals Mark Larson and Jeff Moser, who discuss today’s cost reduction strategies, how organizations can infuse strategy into operational planning, and four key areas to focus on: strategic labor deployment, clinical efficiency, supply chain and pharmacy, and service rationalization.
Sg2 members can access our Executive Briefing, Strengthening Margins in an Era of Shrinking Revenue—Top Four Cost Strategies, to learn more about the four areas that offer health systems opportunity for cost reduction as they work toward healthy margins.