How Ballast Helps Doctors Reduce Costs Through Supplier Relationships
As a doctor or practice manager, you’re always looking for ways to reduce costs and maximize the efficiency of your practice. One great way to do this is by managing your supplier relationships. This can include your medical suppliers, your electronic medical records provider, outsourced X-Rays, lab diagnostics providers, landlords and more. Managing and optimizing these supplier relationships can often be a daunting task but Ballast makes it easier.
Here’s how we help healthcare practices save money by managing supplier relationships.
WE Start with the Underlying Spend Data
We start the process by doing a deep-dive into existing spend data to uncover the largest expenses that can be reduced. We use our expertise and knowledge of the market to figure out which suppliers are providing you with the best value for your money. We also look at where there are opportunities to consolidate products and services, as well as where we can find discounts or rebates that could reduce costs.
Then, we Launch the Proposal Process
Once we have an understanding of your current spending patterns, we prepare volume purchasing reports, which we use to develop a forecasted purchasing plan that serves as the basis for a request for proposal. We inform your supplier that we are conducting a formal review on our price options with them and other suppliers and encourage them to offer competitive prices in order to keep your business.
Then, we Solicit Price Offers
We then share the forecasted purchasing plan to solicit price offers from various suppliers in a formalized process with specific deadlines, so that we can compare offers. Sometimes we use these offers to ask vendors to reduce their prices even further, as well as request improved terms such as payment flexibility or extended warranties to get better deals from them. For supplies managers, we often negotiate reduced-cost or free supplies tracking software, so that both of you can have a better understanding of your supplies-usage habits. This can further reduce your supplies spend by improving your purchasing habits and reducing waste.
By leveraging our expertise in supplier management and negotiating tactics, we help healthcare practices save money when working with vendors while still ensuring they receive quality products and services at competitive prices.
Managing supplier relationships can be difficult—especially if you don't have experience in negotiation tactics or supplier management strategies.
That's why Ballast is here to help! We make it easy for healthcare practices like yours to reduce costs without sacrificing quality by leveraging our expertise in supplier management and negotiating tactics. So, if you're looking for ways to cut expenses while still getting top-notch products and services at competitive rates, contact Ballast today!
