New Partnership Could Help Members Save on Expenses April 23, 2018 Tag 854 As many medical groups, IPAs and health systems grapple with expense reduction and revenue improvement, LACMA now has a partner, vetted by our accounting firm (Vasquez & Company) that can help healthcare organizations, and help us engage prospective organizations in a profound way. ERA is a global company that for more than two decades has been highly successful at bench marking costs and spending, follow the latest supplier innovations, and have real-time data on changes and advancements. This strength gives Expense Reduction the recognition and power needed on supplier markets to best serve healthcare organizations (both large and small) interests. ERA expertise not only helps clients achieve savings; it also helps establish strong supplier relationships without any compromise on quality and service, and often also contributes to the improvement of internal processes ERA wants organizations to feel confident that they're not leaving money on the table, and if they are, ERA shows them where it is, how much it is, and, will even get it for them. Companies are surprised by how ERA consistently finds an additional 10%-30% savings in some of their most significant expense categories, and those savings represent a significant boost to their cash flow that can be put back to work in their business. It's not practical for internal procurement groups to have this level of insight into hundreds of suppliers and their industries, across dozens of expense categories. However, it is practical for ERA, because it is their core business. They have hundreds of procurement specialists, each dedicated to gaining and maintaining that insider knowledge in a specific supplier industry and for the suppliers within it. All of these capabilities are leveraged to your benefit to create the best supplier relationships at the lowest cost, without any compromise to supplier quality and service. No Cost to You ERA understands that no company wants to take on a new project, unless they know there will be a sufficient return. Although ERA uncovers significant cash flow the vast majority of the time, there are also times that they don't.Most clients prefer ERA to take on this risk, which requires that they perform our work on a contingency basis. In this case, ERA first works with you to establish your supplier quality and service standards and current pricing levels. Then they make all of the investments in expertise and resources up front, and only get compensated if results are delivered. ERA, effectively, becomes self-funding. ERA is only compensated when additional cash flow is produced from cost savings above and beyond what internal procurement efforts have delivered on their own. To get started, please contact us.