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Process

Preliminary Analysis
A free, no-obligation preliminary analysis is conducted. The current expenses and income are benchmarked and analyzed by experts to determine a ballpark level of savings and revenue opportunity.  The preliminary margin analysis (savings and revenue) is provided for executive review by your team at no cost or obligation.
Project authorization
After a review of the preliminary analysis, a decision is made about moving forward on a project. Once the decision is made to move forward, an engagement agreement is executed and the scope of the project is set. Status reporting is set up and normally occurs on a weekly basis.
Information Gathering
HMS collects client data necessary for the project. This includes information such as copies of contracts, invoices, supplier usage reports and MDS data. HMS also conducts "client champion" interviews with key staff in areas to be analyzed for potential margin improvement.
Margin Improvement
HMS utilizes subject matter experts (SMEs) to negotiate with your incumbent and prospective suppliers utilizing the client information gathered as well as HMS' unique knowledge, data, and processes. At this time, margin opportunities (savings and revenue) are fully explored and the margin improvement opportunities are analyzed and documented in detail.
Recommendation
HMS provides a detailed recommendation report outlining the margin opportunities for client consideration. HMS works with the client to help make a final decision. The decision on which recommendations to implement are at the sole discretion of the client.
Implementation
HMS works with the client to implement the approved recommendations. This includes setting up the appropriate meetings with suppliers and other service providers. It also means making sure new pricing structures and revenue opportunities are implemented.
Monitoring
HMS monitors and reports on margin improvements by category. These monitoring events normally occur every two months for the length of the engagement which is typically 18 to 24 months. During this time, HMS is proactive in making sure the margin improvement opportunities are maximized.