7 WAYS TO STOP REVENUE LEAKAGE IN YOUR HOSPITAL

Each hospital has to face financial losses in some form or the other that is a cause for the loss of profitability and significant revenue. You already have enough to worry about on your plate ranging from competition to new trends worry too much about these process and system problems. But it can afford to ignore it?

We studied the common loss of revenue points to a hospital, and here we list the 7 ways to stop the loss of revenue from your hospital and make education of profit and loss seem more promising than ever:

1. Get your inventory systematized

Cannot we just refer to your main shop but secondary stores too much material wherever it is stored including pharmacy? A real systematic inventory can show a lot of trends and help you understand the use and waste much more clearly than the ambiguous answers your store in office or even the head of operations may give you. Get inventory from the main store and sub automated warehouses and ask your IT team for weekly reports.

2. Get a grip on your maintenance costs

Tighten the approvals of invoices and maintenance requests. Let's head of operations taking all approvals in writing with a reason if the maintenance is necessary in the first place. You will notice a significant dip in the bills early maintenance. Small drip it but continuous. Connect this will go a long way in education P & L.

3. Quantify the utilization rates of equipment

Make this one a quality indicator, not only in the OT or ICU but all diagnostic departments too. A lot of your investment has gone into the state-of-the-art. To the method of the respective departments may have followed a lot with you to get your approval to buy the equipment, now make them responsible for the ROI too. Reports on the rates of utilization of heavy equipment to make it compulsory. 80% of target use and make your department heads to work towards it.

4. Do not focus on elements in moving motion

Once your hospital is automated with a simple click of a button you can now know all about your stock movement. Make sure you get a report of the elements Non-movement; not only weekly but also monthly and accumulated as a report last 3 months before or six months. Obtain the movement of each analyzed element and taking a call on it. It needs to move around the hospital or needs to move inventory out of the hospital.

5. Welcomes the Non-Performers

Non-Performers are computer equipment, machinery or men you need to be identified, given the opportunity to perform and replaced in case of failures. No one comes to your hospital to work for free; you must pay a wage and salary that is money. Investing the right manpower and resources. Get your HR to design your evaluation system so that you are able to identify contributors and contributors incorrectly. Be prepared to make some difficult decisions from time to time.

6. Put a cork on petty theft in all shapes

The message should ring loud and clear in your hospital - is not allowed to take anything from the hospital for personal use, be it a paper clip or whole pad of cotton gauze. Theft does not happen in the form of money stolen from the finances or material stores in a hospital, it also happens in much smaller forms. The cumulative impact of this can actually be much more than financial theft or materials. Tighten the safety for the cutting of tampering. The infrastructure should have the lowest number of points of sale and your operations team must be trained extensively. Nothing works like the sense of properties added with a good deal of responsibility.

7. Set strict limits to your giving credit policy

If hospitals work on a pay and take the service model, giving credit become inevitable at times especially with patients from insurance, the TPA schemes and government to form a large chunk of your patient flow. Even while catering to patients from different layers of society credit becomes inevitable. Formulate a watertight policy on credit and make sure that your operations team follows him to the T. A deviation from this policy can cost a lot for a period of time.

All these measures can be quite simple if your hospital is automated. One screen at the end of the day can give you all the insights you need to stop leaks and manage smarter operations.