NC hospital saves $2M in first year with Premier spend management tool
Alamance Regional Medical Center is a not-for-profit community healthcare system serving Burlington, NC, and the surrounding area with a state-of-the-art 238-bed medical center, 81-bed nursing home, continuing care retirement community, pediatric rehabilitation clinic, and a sports rehabilitation center. The health system offers a full spectrum of inpatient and outpatient services to more than 140,000 patients annually. A satellite, Mebane Medical Park, includes general practitioners and rehabilitation and cancer centers, and the West End Medical Park provides primary care.
Situation:
Alamance Regional Medical Center wanted to gain better access to its spend data and effectively mine the data for savings opportunities as well as operations improvement. ARMC set a goal of $1 million in savings.
Solution:
ARMC chose Premier’s SpendAdvisor™, particularly because of the ability to easily create reports, track and analyze contracts, view on- and off-contract purchases in any category, and use benchmarking as a means of comparison.
Result:
- One-year savings surpassed $2 million, twice the initial goal.
- Time spent generating reports and analyzing spend has been reduced to a fraction of what it was previously.
- Physicians are engaging and requesting reports that show the impact of their spending habits as they relate to reimbursement.
"…before when someone told me to ‘go west,’ I’d follow the sun for contract
savings. Now, I have a GPS system that helps me get there. We did a pretty good
job of getting there before, but now it’s a whole lot easier and takes a whole
lot less time!"
Wendell Osborne
Supply Chain Director
Alamance Regional Medical Center