Format

Send to

Choose Destination
Eur J Radiol. 2007 Jan;61(1):144-9. Epub 2006 Sep 11.

Cost analysis in interventional radiology--A tool to optimize management costs.

Author information

1
Institute of Clinical Radiology, University of Munich-Grosshadern Campus, Munich, Germany. Clevert@web.de

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 euro. The value of all A-products determined by the inventory was 260,000 euro. Changes in the A-product procurement strategy tapped a cost reduction potential of 14,500/year euro. The resulting total saving was 17,200 euro. Improved stores management added another 37,500 euro. The total cost cut of 52,000 euro 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.

PMID:
16963219
DOI:
10.1016/j.ejrad.2006.08.011
[Indexed for MEDLINE]

Supplemental Content

Full text links

Icon for Elsevier Science
Loading ...
Support Center