In-person meetings between hospitals and suppliers have become increasingly rare over the past several years. One collateral “victims” of the pandemic is the quarterly business review (QBR) hospitals traditionally have held with key suppliers. These sessions provide a valuable opportunity to check-in, review the scope of business being conducted, and give both parties a chance to identify any gaps in their expectations of each other so these can be addressed promptly.
Commit to Regular QBRs. Everyone is busy and starved for more time, but making time for QBRs will help keep you up-to-date on the status of key contracts, strengthen relationships with suppliers, and give you a forum to discuss ways your suppliers can help you reach your goals.
A Miga community hospital client was recently reminded just how valuable QBRs are. After a long hiatus in formal meetings with a supplier of diagnostic imaging equipment, the hospital recently sat down to review their relationship. During this meeting, they learned that a service contract covering several mission-critical systems had expired, exposing the hospital to substantial out-of-pocket service costs. A new replacement agreement was completed quickly and just in time, a part failure on a CT scanner that would have cost more than $130,000 ended up being covered. Make time for QBRs, and root out potential issues with suppliers early, and efficiently.