Beyond Clean Expert Series Episode 1: Preventing Revenue Leakage in Healthcare and The SPD

Join host Hank Balch in the first episode of the Beyond Clean Vendor Management Expert Series as he discusses with Matthew Rechin (AKA Rex), Chief Commercial Officer of ReadySet Surgical, about how hospitals can address revenue leakage within the loaner tray management process. They delve into the critical roles of SPD and OR in managing costs, the concept of surgical tray intensity, and strategies to prevent inefficiencies in the healthcare setting. Tune in to learn how better vendor management can boost hospital financial performance.

00:00 Introduction to Beyond Clean Vendor Management Series

00:43 Understanding Revenue Leakage in Loaner Tray Process

02:05 Roles and Responsibilities in Surgical Revenue Management

03:17 Practical Steps to Prevent Revenue Leakage

04:47 Exploring Surgical Tray Intensity

06:47 Conclusion and Next Steps

Preventing Revenue Leakage in Healthcare

In the ever-evolving world of healthcare, finding new ways to optimize revenue is a top priority. This pursuit often extends beyond traditional pricing initiatives, especially when hospitals have already maxed out their potential in that realm. Episode one of the Beyond Clean Vendor Management Expert Series introduces us to a pressing issue and an expert ready to tackle it: Matthew Rechin, also known as “Rex”, the Chief Commercial Officer at ReadySet Surgical.

The importance of capturing lost revenue

Hank Balch, host of the Beyond Clean series, sits down with Rex to discuss a vital topic – revenue leakage in the operating room, particularly through the loaner tray process. At a time when healthcare faces financial constraints, the focus is shifting to non-price initiatives that can prevent revenue loss and reduce costs in operating rooms (OR) and sterile processing departments (SPD).

Rex explains the significant role that SPDs play in a hospital’s financial performance. With a considerable amount of revenue passing through daily, identifying areas of inefficiency can have a direct impact on the bottom line.

Who’s responsible for addressing Revenue Leakage in Healthcare?

Rex emphasizes that everyone involved in facilitating hospital operations can contribute to enhancing surgical revenue success. Often, SPDs report to the OR, either through perioperative or OR leadership, emphasizing that there is shared responsibility in addressing this problem.

On the ground level, Rex advocates for SPDs to focus on inefficient loaner management. This includes addressing issues like lack of visibility of incoming trays, excessive overtime due to late deliveries, and managing unnecessary surgical tray intensity. By improving these processes, SPDs can minimize costs attributed to opened, unused trays, paving the way for improved financial outcomes.

Understanding Surgical Tray Intensity

An intriguing term introduced during the discussion is “surgical tray intensity,” defined as the number of trays per surgical case. Variances in tray intensity from vendor to vendor call for closer scrutiny. For example, in different hospitals, the same surgical procedure might require a disparate number of trays. Better visibility into actual requirements can lead to more efficient tray management and cost reduction.

The key is finding a balance between ensuring surgeons have all necessary tools while avoiding unnecessary excess. Vendors aim to ensure comprehensive preparation for surgeons, but the goal is to find a mutually beneficial compromise that supports both efficiency and patient outcomes.

Conclusion and next steps

This inaugural episode with Rex is an insightful exploration for healthcare professionals, particularly those working in sterile processing. By understanding and tackling the complexities of revenue leakage, healthcare providers can better capture and sustain revenue.

Check out episode two, where the series will introduce the second vendor management expert from ReadySet Surgical, Matt Strunk. In the meantime, connect with the team on LinkedIn and across social media channels to keep up with the latest insights from the series.

Whether you are involved directly or indirectly in the surgical process, the pursuit of greater efficiency and revenue retention is a shared responsibility. Let’s embark on this journey together to innovate and improve our healthcare systems.