Step 6 – Implementation: putting money saving into practice

Step 6 – Implementation: putting money saving into practice

You could have the best deal available, but if it’s not implemented correctly all your hard work is wasted. The very first thing you should do is set up a practice contracts folder. Within this folder should be a section for each category your surgery is buying, from insurance to calibration. Under each section you should include details on the contract that has been agreed including:

• Supplier’s contact details, including the account manager who agreed the new deal
• Important email correspondence
• Signed agreement from the supplier confirming the new prices
• List of product codes and prices
• Details of the order and delivery process
• Escalation details, in case your order doesn’t arrive who should you contact
• List of other suppliers who you may involve in the process in the future 

When invoices arrive from the new contract they can be checked against the agreed pricing and then any discrepancies can be highlighted to the account manager through the stated escalation process.

At the front of the folder should be a summary document that lists all of the contracts and the dates they were agreed and due to expire. Your practice team should refer to this document every month and highlight all contracts that are due to expire within 3 months. This way you get a good head start on renegotiating another deal and prevent sudden cost increases when you fall out of contract.

Following this process with ensure that should your practice team change then you will have a robust continuity process ensuring a smooth handover of any existing and impending contracts.