CFO shares how dedicated CPS supply chain leadership helped reduce spending, improve materials management, and more
August 2024
In 2023, the average age of capital investments for medical equipment and infrastructure spiked by 7.1%. Costs associated with such supply have also skyrocketed, amounting to a $6.6B collective increase that contributes to 13% of the average hospital's expenses. ¹
Financial pressures and challenges recruiting expert leadership have hit rural healthcare organizations like Hillsdale Hospital particularly hard.
To help address these industry pain points, Mark Gross, Hillsdale Hospital’s Vice President & Chief Financial Officer, asked CPS to hire an onsite supply chain director to help optimize their day-to-day operations.
In the first five months alone, the new Director of Supply Chain saved the hospital over $300k through 50+ cost-effective initiatives.
Download the case study to learn how Hillsdale Hospital achieved these results and more with the support of CPS.
[1] American Hospital Association. 2024 Costs of Caring Report; 2024. Accessed June 18, 2024. https://www.aha.org/costsofcaring