Tips for Reducing Hospital Operating Costs
Many hospitals around the world actually operate at a loss, which means that the facility spends more money to care for patients than it spends to treat those patients. This often occurs because the hospitals accept patients who have no insurance and no way of caring for their medical costs. That does not mean that hospitals should change the patients they admit or send patients out into the world without giving them the care that they need. Hospitals can find simple and effective ways to cut down on their operating costs.
Schedule Routine Testing
Nearly every building in California uses pressurized water valves, which adjust the flow of water that comes out. With PRV testing California hospitals can find out if they waste water and save some money. Depending on the pressure used by those valves, a small amount of water may leak out. As that leak grows, it can cost the hospitals thousands of dollars or more over the course of a single year. Regular testing of those valves and other features of the facility can help the hospital cut down on annual operating costs and save some money at the same time.
Apply for Grants
Hospitals need to make as much money as possible because those funds pay for the salaries of workers, the care that patients need and the utilities that keep the facility operating. Charging insurance companies more and/or increasing the costs that other patients pay will not help. Many hospitals get the money needed to operate for the coming months or for an entire year through the use of grants. These grants are available from the federal government and from public and private organizations with a connection to the health care industry.
Change Providers and Suppliers
Managers and directors working for hospitals can also think about changing providers and suppliers. These are the companies that provide hospitals with the supplies and products needed every day, including medications for patients, pens and other office supplies for workers and even the equipment that doctors and nurses use on each floor. Changing providers can help hospitals find companies with lower prices and those that offer discounts for bulk purchases. They can even find cheaper prices on the specialty equipment and supplies that individual departments need. These tips help hospitals save money on supplies and get extra money to cover daily operating costs.