Cost reduction and process improvement is priority for Healthcare executives according to HealthLeaders:
In our newly released Industry Survey, available for free download on our website, healthcare executives tell us that cost reduction and process improvement is their number-three concern (ticked by 45% of the 823 qualified respondents), not far behind patient experience and satisfaction (54%) and clinical quality (48%).
So how much cost reduction are we talking about? Many healthcare organizations have a long way to go, according to the October 2012 HealthLeaders Media Intelligence Report on cost containment.
While 20% of healthcare leaders responding to the survey said their organizations needed to reduce operating costs by only 1%-3% beyond previous reduction efforts, 29% said that 4%-5% more costs had to come out, 26% said 6%-10%, 14% said 11%-20%, and 9% said they needed to cut more than 20% of operating costs!
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