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Controlling Capital Costs at Charleston Area Medical Center |
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Charleston Area Medical Center (CAMC) is West Virginia’s largest hospital. The flagship of the CAMC Health System, CAMC is a non-profit, 913-bed, regional referral and academic medical center which includes General Hospital, Memorial Hospital and Women and Children’s Hospital.
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CAMC suffered from a fragmented budgeting process, and had difficulty understanding the “big picture” of its capital requirements and spending. Bulk purchasing opportunities were being lost. Money set aside for future projects was spent when last-minute capital “must-have” requests came in. CAMC wanted better processes and systems to support the organization in conducting strategic planning, balancing the capital needs of three hospitals, and managing expansion projects.
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By implementing the VFA.spendManager capital spend management solution, CAMC has been able to take the guesswork out of the budgeting process and streamline both capital budgeting and purchasing. It is able to apply consistent criteria to budget decisions, provide visibility into the status of requests, and enforce apppropriate approval processes.
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Today, all the stakeholders in the process have confidence in the capital planning process, and an understanding of the current status of requests and purchases. Not only does “everyone speak the same language,” but, with a clear picture of overall needs and spending, bulk purchasing opportunities can be identified for significant cost savings. By making better spending decisions, there is more money for additional strategic needs.
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