A major hospital organization was challenged by efforts to keep up with the latest treatment technologies and ensure that therapeutic outcomes were consistent, while keeping costs down.
SentinelC3 developed a report showing device therapeutic utilization, breaking it down by brand name and by facility. The report was able to identify where there were therapeutic equivalencies in other products, on contract, even though they might be used for a different therapeutic treatment, and showed cost savings by changing to the lower priced item.
The report also identified areas of possible misuse of products, as well as when a facility was being over-charged by a distributor.
For Treatment A, a transition from the high dollar therapeutic device to two alternative devices resulted in savings of $12 million over a six month period.
For Treatment B, the hospital organization was able to convert to alternative products that gave similar therapeutic outcomes at 1/10th the cost. In addition, they were able to convert an entire therapeutic system from one vendor to another at a cost savings of 50%. This amounted to a cost reduction of several million dollars per year.
With both Treatments A and B the therapeutic outcomes were proven to be equal, so all of this was done without compromising the quality of care to the patients.