Archive May 2013 XIV, No. 5

Plugging the Leaks in Your Spending Bucket

9 ways to reclaim tens of thousands of dollars in lost savings on supplies and services.

Barry Denny, CSFA, OPA-C

BIO

plug spending leaks

During my 25 years working on materials management for medical and surgical facilities, every facility I ever dealt with had significant leaks in its spending "bucket" for supplies and services. These leaks routinely amount to tens of thousands of dollars in lost savings that the owners and operators aren't even aware of.

To find more spending leaks, you have to be willing to make a thorough assessment of operations, as you will see in the following 9 items, which illustrate some commonly undetected leaks. Each item is followed by an example of savings realized by a specific client of mine after we'd identified and plugged up the leak.

Pay attention to each example of savings, because at the end I'm going to add them all up, and the total will be impressive. Although some of these leaks may not apply to you, I'm willing to wager that many of them still exist at your facility and still need to be plugged up.

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