Medical Group Management Association unlocks $273K annual savings with the help of ERA Group’s experts. Read our latest case study.
MGMA manages to unlock $273K annual savings with ERA Group’s help.
The client:
Medical Group Management Association is a non-profit medical association located in Denver, Colorado. The association provides industry information to over 55,000 members, focusing on its mission to empower medical practices.
The challenge:
MGMA wanted to ensure they were getting the best prices across their supply chain and hear recommendations for process improvements to their internal procurement system.
The solution:
utilising ERA Group’s proprietary SpendVue analysis, ERA’s specialists were able to project significant savings for the association across nine expense areas. When examining the organisation’s suppliers, IT-managed services proved that leaving the incumbent supplier for a new supplier could generate significant cost savings while improving service levels. Another area where working with the incumbent supplier no longer proved beneficial was investment fees, where a less fee-heavy institution won out. The majority of savings were found with existing suppliers utilising ERA’s benchmarking data and adept supplier contract negotiations.
The result:
MGMA realised $273,963 in annual savings and achieved better contract terms with their suppliers.
"Partnering with ERA has enabled us to cut costs in many areas, even somewhere we wouldn’t normally look. That’s the benefit you get from working with analysts who are experts in their specific fields. We’ve also learned a lot from ERA about managing an effective RFP process and navigating the challenges that come along with replacing a vendor." [Brett McCallon, Sr. Director of Finance & Analytics at Medical Group Management Association]
