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Cost analysis in interventional radiology--A tool to optimize management costs
D-A Clevert1, M Stickel, E M Jung
1Institute of Clinical Radiology, University of Munich-Grosshadern Campus, Munich, Germany. Clevert@web.de
Reorganizing procurement in interventional radiology departments can significantly cut costs. Implementing a flexible strategy for high-value items reduced expenses by 14.7%, saving over 52,000 euro annually.
Area of Science:
- Healthcare Management
- Radiology
- Supply Chain Optimization
Background:
- Interventional radiology departments face significant material costs.
- Efficient procurement is crucial for financial sustainability in healthcare.
Purpose of the Study:
- To analyze methods for reducing costs in interventional radiology through procurement reorganization.
- To identify cost-saving opportunities in managing high-value products.
Main Methods:
- Inventory analysis and ABC-analysis of all departmental products.
- XYZ-analysis for demand prediction of high-value (A-products) based on ordering frequency.
- Calculation of net working capital (NWC) and development of tailored procurement strategies.
Main Results:
- Total annual material turnover was €353,000, with A-products valued at €260,000.
- A revised procurement strategy for A-products yielded savings of €14,500 annually.
- Improved stores management contributed an additional €37,500 in savings.
- Overall cost reduction achieved was €52,000, representing 14.7% of annual expenses.
Conclusions:
- A flexible procurement strategy effectively reduces storage and capital tie-up costs for A-products.
- Cost savings can be achieved without compromising the quality of patient care in interventional radiology.
- Optimized procurement and inventory management are key to financial efficiency in specialized medical departments.
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