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5 proven means to reduce your medical practice’s burgeoning costs |
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A study by National Center for Policy Analysis (NCPA) suggests that by the middle of the century, healthcare will consume a whopping 33% of the total national income. This amount will gobble up entire state/local budgets as well as the federal budget. Unlike other developing countries, the US government exercises minimal restraint on healthcare spending. |
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| Author: Exercise Bands |
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In the direction of reducing healthcare costs, hospitals are now being pushed by the state to reduce their costs.
Here we present 5 proven techniques by which your hospital/clinic can reduce its operating costs without cutting corners:
1. Cost tracking: Making use of an integrated electronic approach by which all multiple accounts databases can be combined into a single database, making use of data warehousing techniques and retrieval via internet.
2. Inter-departmental co-ordination: Increased co-ordination between departments helps in getting cost saving measures sink into the entire hospital structure more easily.
3. Corporate style benchmarking: Hospitals are now starting to fix corporate styled goals and adopting industry best practices. A professional approach would definitely go a long way in effecting cost cutting measures envisaged.
4. Clinical pathway mapping: Bringing together a team of physicians whose primary aim is to identify patient group requirements and map the means by which the needs can be met frugally and efficiently.
Expected savings: 35 percent
5. Hiring case managers: Case managers look after the transition procedures of a patient when shifted from one department to the other. They are usually members of the nursing staff.
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