When thinking of a hospital, money may not be the first thing that comes to mind, but it is still an important part of running the facility. Like any other facility, hospitals must manage costs to avoid losing money and be able to stay operational. Unfortunately, hospitals find themselves in the unique position where they need to cut costs without affecting any of the treatment that their patients receive. If hospitals cut too many corners and trim too many costs, then they may endanger the health of their patients which could lead to injury, sickness, or even death. Thankfully there are a few methods hospitals can employ in order to cut costs without sacrificing the quality of their treatment. Here’s how hospitals can trim costs and become more lean.
Better Scheduling
One of the biggest problems when it comes to hospital costs is the lack of structured scheduling. Employees are often overworked and required to complete overtime in order make up for scheduling imbalances. Not only does overtime cost the company more money in wages, but overworked employees are also more likely to be less productive, unhappy, and mistake prone. By creating a more structured schedule that reduces the need for employee overtime, you are not only saving money when it comes to wages, but also ensuring you have a happier and more productive workforce.
Reduce Unnecessary Costs
One thing that plagues hospitals is the money they spend on unnecessary costs such as lengthed patient stays and unneeded tests. Sometimes patients stay in a hospital far longer than their expected discharge date. Unfortunately, there is little hospitals can do about this since it can be considered unethical to force patients out when they still believe they require treatment. However, you can ensure that all doctors visits and tests are done in a timely order and with no mistakes. In addition, make sure that patients are well aware of their expected discharge date, so that their families are able to make proper accommodations. Sometimes patients must stay in the hospital for extended periods of time because their families aren’t ready to accommodate the discharged patient. However, by eliminating this miscommunication you can shorten these unnecessary stays and save some money.
Eliminate Accidents
Accidents are never good for any business regardless of industry, but it especially rings true for hospitals. Injured workers could cost a hospital thousands of dollars each year. Hospital accidents typically include serious or life threatening events that can be very costly and need to be addressed immediately. In addition, lawsuits typically follow accidents that occur in healthcare if a patient is negatively affected by the accident. After all, we don’t want our Pennsylvania patients contacting a medical malpractice lawyer in Pittsburgh or anywhere else. By eliminating accidents, you are not only making your hospital safer for your patients and employees, but also saving lots of money in operation costs and legal fees.
Use Current Resources
One of the costliest mistakes a hospital can make is expanding their campus when they really don’t need to. Construction and expansion is extremely costly, and oftentimes isn’t worth it. In many situations, a hospital can increase efficiency or capacity just by using the resources that they already have. Bigger isn’t always better, so before you go building a new wing to your hospital or buy new medical machines make sure that your current resources are being used efficiently. If they aren’t, then making those resources as efficient as possible can increase production just as much as expansion, but without the drastic costs.
