Healthcare
Healthcare spending has grown at slower rates in recent years, and that trend looks to continue in 2016 and beyond. PricewaterhouseCoopers has released new projections from its Health Research Institute that estimate 4.5% net growth in 2016 — a relatively steep drop from a decade earlier.
The HRI report examines key factors that are curbing medical spending:
- Cost-sharing increases for patients reduce the likelihood of seeking treatment
- Telemedicine offering virtual visits and reduced costs
- Comparison shopping and health advisers steering patients to lower-cost services
Other factors are increasing health spending in non-traditional ways:
- Increased data security expenditures
- Incorporating a swath of new specialty drugs
Healthcare Consumers Shifting to Retail and Ambulatory Care
Hospital administrators need to redouble their efforts to reduce operating expenses in order to compete. Drugstore clinics and physician’s offices can offer similar care at reduced costs, luring patients away from hospitals.
Controlling Costs Key in a Competitive Market
Hospitals can take numerous short-term and long-term steps to reduce costs:
- Educate the public and promote healthy lifestyles
- Use data and analytics more strategically
- Adopt virtual care options whenever possible
- Leverage new tools and equipment
On that last point, we are seeing hospitals improve care with efficiency and quality using equipment such as motorized hospital carts. Better tools for employees can streamline daily operations while also enhancing patient care. For example, motorized hospital carts may boost employee morale and help retain talented staff.
The decisions made now can help position your healthcare facility for better profitability in the volatile times ahead. For more info on motorized hospital carts and other tools to boost efficiency, visit DJProducts.com.