Various measures such as switching to a generic or private label product, adopting alternative processes and efficiencies and even spending money to save money can help a healthcare business reduce expenses.
Keeping patients healthy and in their homes is one of the greatest forms of healthcare cost containment, and a core component of patient-centric care. One area of significant expansion is the home infusion therapy market, as health systems are challenged to care for an aging population with more cases of chronic diseases requiring intravenous (IV) medications. For health systems considering expansion into the home infusion therapy market, asset management and patient engagement can support improved care quality, patient satisfaction and operational efficiency, while helping to reduce costs.
Read articleWith hospitals around the nation facing unprecedented financial burden related to COVID-19 and more people becoming uninsured, it’s critical for healthcare leaders to identify sources of revenue and execute cost-saving strategies. Leaders should not overlook pharmacy to help capture savings. Three experts recently spoke with Becker’s about ways health systems can utilize pharmacies and drug programs to drive revenue and cut costs.
Read ArticleAdding the latest diagnostic equipment to your medical practice can help you provide better patient care, increase patient satisfaction and create new revenue streams. When adding equipment, however, it is important to keep in mind your patient population and payer mix to avoid an expense that does not benefit your patients or practice.
Read ArticleWhen a health system acquires non-acute facilities, materials management has a challenge on its hands. Adapting processes designed for acute-care hospitals to the unique needs of ambulatory care facilities requires flexibility and often, a willingness to change course. Outsourcing non-acute distribution can offer a potentially cost-saving solution.
Read ArticleForward-thinking organizations are testing creative ways to position themselves to take on industry-wide challenges. Executives from integrated health systems, academic medical centers and post-acute care groups nationwide shared four ways their organizations are evolving ambulatory cost structures to capture greater market share and lower operating costs during a leadership forum hosted by McKesson Medical-Surgical at Becker’s Hospital Review 9th Annual Meeting in Chicago.
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