Question 1

Why would my organization benefit from Expense Consulting? Can’t our staff accomplish the same things?

Accepted Answer

Expense Consulting leverages 17 years of experience, along with in-house and outsourced subject-matter expertise, to provide a level of support internal teams cannot replicate. Our experts negotiate cost savings in every key expense driver of Healthcare and Aging Services on a day-to-day basis, in markets across the country. That constant, current market exposure informs our guidance and our negotiations in a way that an in-house team can not match.

Question 2

Why select Expense Consulting over any other expense management firm?

Accepted Answer

Because we focus exclusively on Healthcare and Aging Services. We understand the tension between margin and mission, and our guidance is built on that foundation. Other expense management consultants look for savings in areas common to most businesses. Only Expense Consulting brings deep expertise across all the key recurring purchase areas of Healthcare and Aging Services, including dining services, pharmacy, rehabilitation, clinical services, facilities management, and supplies purchasing, as well as important lower-cost opportunities like waste management and utilities optimization.

Question 3

Our staff and residents value our vendor partners. Aren’t your efforts adversarial to our vendors?

Accepted Answer

No, and this distinction is central to how we work. Expense Consulting has worked to support Healthcare and Aging Services organizations for many years, and we appreciate that best-in-class operations are supported by warm, symbiotic relationships between operators and providers. We work toward win-win scenarios in every instance, negotiating to retain the current partner in roughly 90% of our projects. Through our efforts, your recurring spend is held in line with marketplace expectations, and your vendor partners are assured of continued contractual engagement for the duration of our involvement.

Question 4

How time consuming is an engagement for our staff?

Accepted Answer

Engaging with Expense Consulting does not place added burden on your internal team. While it is important that we meet with the department heads who oversee the areas we are asked to study, we work directly with your existing vendors to secure agreements, invoices, and purchase histories. We engage your staff only to understand vendor successes and opportunities, to present our findings and recommendations, and to receive approval for next steps.

Question 5

Does Expense Consulting guarantee savings?

Accepted Answer

We commit to thoroughly investigating every area of spending we identify as an opportunity and that you direct us to study. In most cases we find multiple savings opportunities within a project, none of which impact staff or resident experience or adversely affect quality in any way. It is then up to you to decide which opportunities we operationalize. Only in rare instances do we find that cost has already been fully optimized, and when that happens, there is no fee, and you gain independent confirmation that your organization is managing that spend well.

Question 6

How are Expense Consulting’s fees structured?

Accepted Answer

We are paid on a contingency basis from cost savings we find for our clients. Opportunity analyses are provided as a service to our client, and studies that find no savings carry no fee. When savings are realized, Expense Consulting is paid a percentage of found savings during the first year of the engagement and a reduced percentage in the second year, while we remain engaged to ensure ongoing savings are actually realized. Our compensation depends entirely on your results, which keeps our incentives aligned with yours.

Question 7

What savings should our organization expect?

Accepted Answer

Found savings vary depending on the type of spending studied, how long the incumbent vendor has been in place, how frequently contracts have been reviewed, and which opportunities you choose to pursue. Expense Consulting has achieved 18% blended savings across multiple projects for any given client over our 17 year history

Question 8

What regions of the country does Expense Consulting support?

Accepted Answer

We serve organizations across the nation, from acute care and post-acute care providers to PACE organizations and seniors housing communities. We harness a substantial data pool and subject-matter experts drawn from each region, ensuring accurate, current market intelligence that supports the best outcomes for our clients wherever they operate.