Expense Management

Our expense management team has collaborated with healthcare clients to reduce operating expenses, improve resource utilization, and achieve operational targets through effective comparative benchmarking, process improvement, and redesign. We staff our engagements with influential subject matter experts who have more than 20 years experience in healthcare, bringing industry-wide experience to generate evidence-based actions that address the challenges providers face.

The expense management team has served clients ranging from small, independent community hospitals to academic medical centers, to large national healthcare systems. The situations in which we have served those clients range from turnarounds required to alleviate financial distress to those hospitals that are performing adequately, but that want to optimize financial performance to achieve best-in-class status. Working exclusively in healthcare, we not only help surface opportunities for improvement, but also identify implementable actions that will result in realizable improvements in performance. Every recommendation for expense reduction or efficiency improvement is accompanied by recommended changes in policy, process, and practice that make that recommendation achievable. Our expense management team members collaborate with hospital managers and leaders to translate the recommendations into sustainable results, relying on their in-hospital operating and clinical experience to implement the changes effectively.

Our expense management team combines expertise in clinical services and hospital operations to provide an integrated perspective. Supported by disciplined analytics and rigorous tools and methodologies, the team can assess situations effectively and identify the issues causing less than desired performance. More important, the approach assures the consideration of both quantitative and qualitative factors in determining the appropriate course of action. The inclusion of multiple dimensions of performance helps focus attention on improving overall performance, rather than on optimizing one dimension to the detriment of others.

IMA Consulting stands uniquely qualified to help hospitals diagnose and improve financial performance. Our Expense Management services include:

• Labor Resource Management
• Supply Expense Management
• Discretionary Expense Management

Team Information
Success Studies