Ways Your Hospital Can Save Money

Ways Your Hospital Can Save Money
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    The operating costs of hospitals are monumental.

    Healthcare costs are rising across the board, especially amid the pandemic.


Monitoring overspending and crunching the numbers on tight budgets isn’t just a recommendation—it’s becoming a necessity. If you’re looking for ways your hospital can save money, these four simple ideas might help.

Implement a Wellness Program

The implementation of an effective, well-managed wellness program can cut employees’ health insurance premiums and sick time in half.

Offering free or reduced gym memberships and consultations for common, chronic health problems like obesity, diabetes, and asthma are good, practical ways to start.

Financial incentives in the form of lowered healthcare costs encourage employees to stay fit, maintain a healthy diet, and stay up to date on their medications, vaccinations, and check-ups.

Showing that you care about your employees’ health is a good way to increase loyalty. Likewise, it ensures that nurses, doctors, and other members of the hospital staff are happy and content with their jobs.

Overall, healthier staff members lead to reduced costs for the hospital, more productive workdays, and improved patient care.

Conserve Water and Electricity

Utility bills are a massive, hard-to-control expense. Another way your hospital can save money is by conserving its water and electricity.

Installing high-quality, efficient appliances can help. For water, invest in low-flow faucets, showerheads, and toilets, along with retrofitted drinking fountains.

To curb your electricity use, use long-lasting LED lightbulbs, and if you can, install motion sensors on the lights. Replace your washers and dryers and other easy-to-upgrade technology with more efficient models.

Opting for solar-powered lighting is a fantastic way to save money. Hospitals can apply for grants and rebates to offset the initial startup costs. With eco-friendly, renewable energy sources, you can save thousands of dollars per year.

Reduce Supply Waste

It’s essential, as well, to conserve and micro-manage your supplies. Optimizing your supply chain management can save you major cash by automizing manual processes, standardizing your hospital’s inventory, and reducing unnecessary waste.

Two common, costly consumables include medications and the gases you use for anesthesia and sedation.

For medicine, switching to common generic drugs is an effective way to save money. Training your employees on best-care practices will reduce the number of unnecessary prescriptions.

To save on gas, invest in accurate monitoring systems. Mass flow meters are a reliable, efficient choice. Knowing the average consumption rate will help you manage and adjust the budget accordingly.

other valuable tips:

Hire Case Managers

Reducing unnecessary admissions can save your hospital not only money but also precious time.

Hospitals rarely receive reimbursement on cases that aren’t, by standards, medically necessary. Paired with the amount of time and resources doctors and nurses spend on patients who don’t require urgent medical care, this makes unnecessary admissions a money drain.

Case managers reduce the number of unnecessary admissions by consulting with patients and their families. They can reroute individuals to addiction centers, therapists, nursing homes, and other facilities that can handle their cases more effectively.

Image Credit: ways your hospital can save money by envato.com

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