Part 9 of 9: Early Pay Discounts
Some vendors offer a discount for customers who pay early. One common offer is a “1/10 net 30” payment. This means that while the payment is normally due on the 30th day of the month, a customer can take a 1% discount by paying before the 10th day of the month. That savings amounts to an 18% rate of return. Some vendors offer a 2% discount, bringing the savings up to a 36% rate of return. Example of savings: The 1% discount for early payments brought yearly savings of $16,885 for an oncology center and $12,600 for a GI center.
Many more savings opportunities
The moral is that if you’re willing to do a little digging, you can come up with a lot of money you didn’t know you had. The total savings from the examples for the 9 items above amounts to more than $300,000 a year, and there are plenty of other types of leaks that I haven’t even mentioned. Based on experience, I can tell you that virtually every surgical facility operating today can save at least $25,000 by plugging previously undetected leaks.
If you are a medical/surgical facility decision maker that spends more than $250K a year in medical supplies and would be interested in seeing how much we can save your facility at NO COST to you, please CLICK the link below that takes you to a quick form and then links you my calendar. Then, choose a time most convenient for you for your NO COST 30 minute screen share assessment in which I will show you $50,000-$500,000 in savings SPECIFIC to YOUR facility!