Expense
Management
How you manage expenses can make all the difference between success and failure. Your business depends on strong budgeting and accurate forecasting. Prime Source is built to help you get it right, year over year.
Expense Management for Post-Acute & Long Term Care
We help facilities like yours contain costs and increase profitability. Take advantage of our unique expertise to find out where you are losing money. Partner with Prime Source for access to exclusive supply contracts at no additional cost to you.
In the long term care industry, it’s easy for expenses to get out of control. Rising supply costs and staffing shortages don’t help either. Your facility is probably leaking profit in a number of different areas, just like many others. Therefore, cost control is crucial to long-term success. Identify and eliminate overspending and other inefficiencies that are getting in the way of building a sustainable business.
Let us help you get rid of waste and reduce inventory costs. Not only can we help with aggregated purchasing and supplier negotiation, but we also provide consulting on your books. Improve your P & L with our advanced budgetary strategies.
Your Professional Expense Experts
Realize savings across your most important departments. Identify weakness in your P&L and uncover strategies to plug the gaps for good.
Reduce Spending Waste
Utilize better forecasting to curtail overspending and shortage risks at the same time.
Superior Budgeting
Understand your numbers better than ever and make better decisions for your organization.
Healthier Bottom Line
Create a more profitable business that thrives, regardless of the economic environment.
Frequently Asked Questions
What Is Expense Management?
Expense management is the process by which organizations evaluate and control costs. This can include inventory costs, payroll costs, and various other costs. Good expense management strategies find and eliminate wasted spending without reducing quality of care or service standards.
Why Is Expense Management So Important?
It is easy for expenses to get out of hand in the healthcare industry. Long term and post-acute care facilities are often exposed to inflating costs. With so many moving parts, it can be hard to tell when you’re overpaying or suffering from other inefficiencies. That makes cost containment vital.
Why Are Healthcare Facilities So Vulnerable?
Healthcare is one of the hardest industries to survive in. That’s even more true for long term care, post-acute care, and skilled nursing facilities. In addition to the ever-evolving compliance landscape, you are also subject to supply scarcity, staffing shortages, and other unpredictable costs.
How Does Group Purchasing Help?
Group purchasing organizations lower acquisition costs for buyers by negotiating exclusive contracts with manufacturers, distributors, and other vendors. This simplifies the sales process for suppliers while lowering costs and streamlining the buying process for purchasers.
Are GPOs Really Free to Join?
Yes, it doesn’t cost you anything to join a group purchasing organization. They simply lower your costs by negotiating on your behalf. There are no membership fees and the commissions are paid by supplies. The sole purpose of a group purchasing organizations is to lower supply costs.
Why Choose Primesource Healthcare Solutions?
Prime Source is the only organization of its type, driving innovation for post-acute and long-term care facilities. Not only do we help you navigate optimal purchasing strategies, we also offer consulting on industry best practices and expense management. In short, we’re strategic partners.
The Prime Source Advantage
We can offer you the missing pieces to a more profitable organization. Not only can we show you how to reduce supply costs, our deep industry insights provide the knowledge you need to contain costs elsewhere. Our model helps you enhance efficiency across all your business’s most important departments.