Cost analysis in interventional radiology—A tool to optimize management costs
Abstract Objective The objective of the study was to analyze the methods to reduce cost in interventional radiology departments by reorganizing procurement. Materials and methods All products used in the Department of Interventional Radiology were inventoried. An ABC-analysis was completed and A-pro...
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| Veröffentlicht in: | European journal of radiology 2007-01, Vol.61 (1), p.144-149 |
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| creator | Clevert, D.-A Stickel, M Jung, E.M Reiser, M Rupp, N |
| description | Abstract Objective The objective of the study was to analyze the methods to reduce cost in interventional radiology departments by reorganizing procurement. Materials and methods All products used in the Department of Interventional Radiology were inventoried. An ABC-analysis was completed and A-products (high-value and high turnover products) underwent a XYZ-analysis which predicted demand on the basis of ordering frequency. Then criteria for a procurement strategy for the different material categories were fixed. The net working capital (NWC) was calculated using an interest rate of 8%/year. Results Total annual material turnover was 353,000€. The value of all A-products determined by the inventory was 260,000€. Changes in the A-product procurement strategy tapped a cost reduction potential of 14,500/year€. The resulting total saving was 17,200€. Improved stores management added another 37,500€. The total cost cut of 52,000€ is equivalent to 14.7% of annual expenses. Conclusion A flexible procurement strategy helps to reduce the storage and capital tie-up costs of A-products in interventional radiology without affecting the quality of service provided to patients. |
| doi_str_mv | 10.1016/j.ejrad.2006.08.011 |
| format | Article |
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Materials and methods All products used in the Department of Interventional Radiology were inventoried. An ABC-analysis was completed and A-products (high-value and high turnover products) underwent a XYZ-analysis which predicted demand on the basis of ordering frequency. Then criteria for a procurement strategy for the different material categories were fixed. The net working capital (NWC) was calculated using an interest rate of 8%/year. Results Total annual material turnover was 353,000€. The value of all A-products determined by the inventory was 260,000€. Changes in the A-product procurement strategy tapped a cost reduction potential of 14,500/year€. The resulting total saving was 17,200€. Improved stores management added another 37,500€. The total cost cut of 52,000€ is equivalent to 14.7% of annual expenses. Conclusion A flexible procurement strategy helps to reduce the storage and capital tie-up costs of A-products in interventional radiology without affecting the quality of service provided to patients.</description><identifier>ISSN: 0720-048X</identifier><identifier>EISSN: 1872-7727</identifier><identifier>DOI: 10.1016/j.ejrad.2006.08.011</identifier><identifier>PMID: 16963219</identifier><identifier>CODEN: EJRADR</identifier><language>eng</language><publisher>Shannon: Elsevier Ireland Ltd</publisher><subject>ABC-analysis ; Biological and medical sciences ; Cost analysis ; Cost Control - economics ; Cost Control - methods ; Cost Savings ; Cost-Benefit Analysis ; Costs and Cost Analysis - economics ; Costs and Cost Analysis - methods ; Decision Support Systems, Management ; Germany ; Inventory ; Just-in-time ; Materials Management, Hospital - economics ; Medical sciences ; Miscellaneous ; Models, Econometric ; Purchasing, Hospital - economics ; Radiology ; Radiology, Interventional - economics ; Radiotherapy. Instrumental treatment. Physiotherapy. Reeducation. Rehabilitation, orthophony, crenotherapy. Diet therapy and various other treatments (general aspects) ; XYZ-analysis</subject><ispartof>European journal of radiology, 2007-01, Vol.61 (1), p.144-149</ispartof><rights>Elsevier Ireland Ltd</rights><rights>2006 Elsevier Ireland Ltd</rights><rights>2007 INIST-CNRS</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c442t-107c3d54ab70c4f9a751bd538ed648d0a52253928cdd02400ca8f73d0660238b3</citedby><cites>FETCH-LOGICAL-c442t-107c3d54ab70c4f9a751bd538ed648d0a52253928cdd02400ca8f73d0660238b3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/j.ejrad.2006.08.011$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,776,780,3536,27903,27904,45974</link.rule.ids><backlink>$$Uhttp://pascal-francis.inist.fr/vibad/index.php?action=getRecordDetail&idt=18437162$$DView record in Pascal Francis$$Hfree_for_read</backlink><backlink>$$Uhttps://www.ncbi.nlm.nih.gov/pubmed/16963219$$D View this record in MEDLINE/PubMed$$Hfree_for_read</backlink></links><search><creatorcontrib>Clevert, D.-A</creatorcontrib><creatorcontrib>Stickel, M</creatorcontrib><creatorcontrib>Jung, E.M</creatorcontrib><creatorcontrib>Reiser, M</creatorcontrib><creatorcontrib>Rupp, N</creatorcontrib><title>Cost analysis in interventional radiology—A tool to optimize management costs</title><title>European journal of radiology</title><addtitle>Eur J Radiol</addtitle><description>Abstract Objective The objective of the study was to analyze the methods to reduce cost in interventional radiology departments by reorganizing procurement. Materials and methods All products used in the Department of Interventional Radiology were inventoried. An ABC-analysis was completed and A-products (high-value and high turnover products) underwent a XYZ-analysis which predicted demand on the basis of ordering frequency. Then criteria for a procurement strategy for the different material categories were fixed. The net working capital (NWC) was calculated using an interest rate of 8%/year. Results Total annual material turnover was 353,000€. The value of all A-products determined by the inventory was 260,000€. Changes in the A-product procurement strategy tapped a cost reduction potential of 14,500/year€. The resulting total saving was 17,200€. Improved stores management added another 37,500€. The total cost cut of 52,000€ is equivalent to 14.7% of annual expenses. Conclusion A flexible procurement strategy helps to reduce the storage and capital tie-up costs of A-products in interventional radiology without affecting the quality of service provided to patients.</description><subject>ABC-analysis</subject><subject>Biological and medical sciences</subject><subject>Cost analysis</subject><subject>Cost Control - economics</subject><subject>Cost Control - methods</subject><subject>Cost Savings</subject><subject>Cost-Benefit Analysis</subject><subject>Costs and Cost Analysis - economics</subject><subject>Costs and Cost Analysis - methods</subject><subject>Decision Support Systems, Management</subject><subject>Germany</subject><subject>Inventory</subject><subject>Just-in-time</subject><subject>Materials Management, Hospital - economics</subject><subject>Medical sciences</subject><subject>Miscellaneous</subject><subject>Models, Econometric</subject><subject>Purchasing, Hospital - economics</subject><subject>Radiology</subject><subject>Radiology, Interventional - economics</subject><subject>Radiotherapy. Instrumental treatment. Physiotherapy. Reeducation. Rehabilitation, orthophony, crenotherapy. Diet therapy and various other treatments (general aspects)</subject><subject>XYZ-analysis</subject><issn>0720-048X</issn><issn>1872-7727</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2007</creationdate><recordtype>article</recordtype><sourceid>EIF</sourceid><recordid>eNqFkc2KFDEUhYMoTtv6BILUxtlVefNTSWqhMDT-wcAsVHAX0smtIWVVpU2qB9qVD-ET-iSm7YYBN0JIIHzn3OQcQp5TaChQ-WpocEjWNwxANqAboPQBWVGtWK0UUw_JChSDGoT-ekGe5DwAQCs69phcUNlJzmi3IjebmJfKznY85JCrMJe1YLrDeQmx3FZlQohjvD38_vnrqlpiHMtWxd0SpvADq6lIb3EqeOWKU35KHvV2zPjsfK7Jl3dvP28-1Nc37z9urq5rJwRbagrKcd8Ku1XgRN9Z1dKtb7lGL4X2YFvGWt4x7bwHJgCc1b3iHqQExvWWr8nlyXeX4vc95sVMITscRztj3GcjtQDelV-uCT-BLsWcE_Zml8Jk08FQMMcczWD-5miOORrQpuRYVC_O9vvthP5ecw6uAC_PgM3Ojn2yswv5ntOCKypZ4V6fOCxh3AVMJruAs0MfErrF-Bj-85A3_-jdGOZQRn7DA-Yh7lNpKRtqMjNgPh0rPzYOEoBzqvgfqNinqQ</recordid><startdate>20070101</startdate><enddate>20070101</enddate><creator>Clevert, D.-A</creator><creator>Stickel, M</creator><creator>Jung, E.M</creator><creator>Reiser, M</creator><creator>Rupp, N</creator><general>Elsevier Ireland Ltd</general><general>Elsevier Science</general><scope>IQODW</scope><scope>CGR</scope><scope>CUY</scope><scope>CVF</scope><scope>ECM</scope><scope>EIF</scope><scope>NPM</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7X8</scope></search><sort><creationdate>20070101</creationdate><title>Cost analysis in interventional radiology—A tool to optimize management costs</title><author>Clevert, D.-A ; Stickel, M ; Jung, E.M ; Reiser, M ; Rupp, N</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c442t-107c3d54ab70c4f9a751bd538ed648d0a52253928cdd02400ca8f73d0660238b3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2007</creationdate><topic>ABC-analysis</topic><topic>Biological and medical sciences</topic><topic>Cost analysis</topic><topic>Cost Control - economics</topic><topic>Cost Control - methods</topic><topic>Cost Savings</topic><topic>Cost-Benefit Analysis</topic><topic>Costs and Cost Analysis - economics</topic><topic>Costs and Cost Analysis - methods</topic><topic>Decision Support Systems, Management</topic><topic>Germany</topic><topic>Inventory</topic><topic>Just-in-time</topic><topic>Materials Management, Hospital - economics</topic><topic>Medical sciences</topic><topic>Miscellaneous</topic><topic>Models, Econometric</topic><topic>Purchasing, Hospital - economics</topic><topic>Radiology</topic><topic>Radiology, Interventional - economics</topic><topic>Radiotherapy. Instrumental treatment. Physiotherapy. Reeducation. Rehabilitation, orthophony, crenotherapy. Diet therapy and various other treatments (general aspects)</topic><topic>XYZ-analysis</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Clevert, D.-A</creatorcontrib><creatorcontrib>Stickel, M</creatorcontrib><creatorcontrib>Jung, E.M</creatorcontrib><creatorcontrib>Reiser, M</creatorcontrib><creatorcontrib>Rupp, N</creatorcontrib><collection>Pascal-Francis</collection><collection>Medline</collection><collection>MEDLINE</collection><collection>MEDLINE (Ovid)</collection><collection>MEDLINE</collection><collection>MEDLINE</collection><collection>PubMed</collection><collection>CrossRef</collection><collection>MEDLINE - Academic</collection><jtitle>European journal of radiology</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Clevert, D.-A</au><au>Stickel, M</au><au>Jung, E.M</au><au>Reiser, M</au><au>Rupp, N</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Cost analysis in interventional radiology—A tool to optimize management costs</atitle><jtitle>European journal of radiology</jtitle><addtitle>Eur J Radiol</addtitle><date>2007-01-01</date><risdate>2007</risdate><volume>61</volume><issue>1</issue><spage>144</spage><epage>149</epage><pages>144-149</pages><issn>0720-048X</issn><eissn>1872-7727</eissn><coden>EJRADR</coden><abstract>Abstract Objective The objective of the study was to analyze the methods to reduce cost in interventional radiology departments by reorganizing procurement. Materials and methods All products used in the Department of Interventional Radiology were inventoried. An ABC-analysis was completed and A-products (high-value and high turnover products) underwent a XYZ-analysis which predicted demand on the basis of ordering frequency. Then criteria for a procurement strategy for the different material categories were fixed. The net working capital (NWC) was calculated using an interest rate of 8%/year. Results Total annual material turnover was 353,000€. The value of all A-products determined by the inventory was 260,000€. Changes in the A-product procurement strategy tapped a cost reduction potential of 14,500/year€. The resulting total saving was 17,200€. Improved stores management added another 37,500€. The total cost cut of 52,000€ is equivalent to 14.7% of annual expenses. Conclusion A flexible procurement strategy helps to reduce the storage and capital tie-up costs of A-products in interventional radiology without affecting the quality of service provided to patients.</abstract><cop>Shannon</cop><pub>Elsevier Ireland Ltd</pub><pmid>16963219</pmid><doi>10.1016/j.ejrad.2006.08.011</doi><tpages>6</tpages></addata></record> |
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| subjects | ABC-analysis Biological and medical sciences Cost analysis Cost Control - economics Cost Control - methods Cost Savings Cost-Benefit Analysis Costs and Cost Analysis - economics Costs and Cost Analysis - methods Decision Support Systems, Management Germany Inventory Just-in-time Materials Management, Hospital - economics Medical sciences Miscellaneous Models, Econometric Purchasing, Hospital - economics Radiology Radiology, Interventional - economics Radiotherapy. Instrumental treatment. Physiotherapy. Reeducation. Rehabilitation, orthophony, crenotherapy. Diet therapy and various other treatments (general aspects) XYZ-analysis |
| title | Cost analysis in interventional radiology—A tool to optimize management costs |
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