Vendor Contract Negotiation
Decreasing cost is just as important to profitability as increasing revenue; yet managing costs without sacrificing quality is challenging and time-consuming. Vision Consulting manages your vendor relationships to protect your reputation, attract new patients, and retain your current patients.
Most practices stick with the same vendors for years and simply accept what they are paying. We will aggressively renegotiate your contracts with suppliers, ancillary providers, and others to ensure your vendors give you a good balance between cost and quality.
Vendors Affect Patient Experience
You have invested in your education, and your experience is second-to-none. You have designed an exceptional practice and hired the best staff. All this effort has made you one of the most valued practices in your area. Your growing business means you rely on vendors and contracted staff more. At first everything is going well, but then something happens. Your patient base declines and you are not sure why. Then you read an online review about an unpleasant experience in your practice, an experience related to someone who isn’t even on your employee payroll. Unfortunately, your patients don’t realize that the person is not an employee; they only know that the experience occurred in your practice. Vendor management extends beyond contracts and services. You also need to manage the effect vendors and contractors have on patient experience.
A small patient base often means price is the most common consideration when choosing a vendor or contractor. Finding vendors that offer high-quality services for a low cost is possible but improbable. The consequences of making a poor vendor choice are far-reaching and can even cripple your practice for years to come. Vendor selection should consider both cost and quality, which takes time.
After choosing a vendor, the process of contract negotiation and monitoring begins. Negotiating contracts is more than just agreeing on a cost. Contracts should and must include clear language that protects your practice, patients, and staff, as well as adds value to your business.
Vendors, contractors, and suppliers provide services and products to your practice, but they also affect the quality of care. Low-quality products, impersonal patient care, unprofessional behavior, and other factors are a reflection on your practice, regardless of the mechanism by which the service and products are provided to patients. Vision Consulting invests the necessary resources to select and retain vendors that will enhance your reputation, not undermine it.