Five Ways to Get More Impact From Your Healthcare Technology

Hospitals and healthcare systems invest a significant amount of capital each year in various forms of technology. Supply chain spending is currently the second-largest cost for health systems and is projected to surpass labor costs as hospitals’ greatest expense in 2020. According to Definitive Healthcare data, the 25 hospitals with the highest total medical and surgical supply costs spent more than $14.2 billion in 2018 (an average of $569 million for each hospital).

The ROI you achieve on those measures of performance (care, successful outcomes, efficiency) impacts your hospital’s reputation and market share. The investment you make also helps your hospital or healthcare system recruit the best team of caregivers - the physicians, nurses, therapists, hygienists, nutritionists, and counselors who treat your patients.