Optimizing Costs and Service Delivery
The value of software is cost reduction and ability expansion. Think of the difference between having a simple program like Microsoft Excel, as opposed to doing the same sort of work by hand. What technology does, primarily, is preserve time as well as energy by simplifying previously complex tasks.
Time is money. Nationally, it costs $200 billion to run the USA’s hospitals annually. If an hour costs your clinic only $1,000 in terms of personnel, electricity, adjacent utilities, equipment, and extraneous costs, that’s very cheap. A hospital operating 24/7/365 might have $100,0000,000 a year in revenue, and see 5 to 10 million in profit.
So a small hospital operates at an hourly cost of between $10,273.97 and $10,844.75 an hour. A health clinic like a dentistry practice who is a tenth the size of a hospital would be doing quite well at $1,000 an hour. But that means every hour wasted on poor management costs $1k+. So if updating software saves 10 hours a month, that’s $120k a year.
If you can find software that conserves 10 hours a week, you’re saving $520k a year. Now, that’s collateral savings, which is enjoyable in terms of increased capabilities as a healthcare facility. It’s still a notable savings, though, and that’s before you consider what advantages come from reduced personnel needs or increased clientele through outreach.
The Marketing Angle
Marketing benefits from software in several ways. Customer Relationship Management (CRM) software helps you automate outreach to patients. Dentistry practices, for example, offer medical services that are almost elective in nature. Without being reminded they need to drop in for a teeth cleaning, patients may go years between visits. CRM changes that.
Additionally, you can build profiles for patients, and easily maintain patient records so things don’t get mixed up as easy. Plus, space is eliminated. You don’t need a whole room for file cabinets; a hard-drive that will fit in your pocket will do.
Real-Time Insights Foster Profitable Optimization
Even small clinics benefit from real-time insights concerning available data. Cloud-based operations bring more computational “horsepower” to the table, and solutions like those available through the medical software of DataDx can be a real game-changer. First-hand healthcare experience combines data-driven decisions, automation, anomaly detection, and real-time reporting.
The end result is a more streamlined healthcare business that’s able to leverage IT costs against profitability enhancement through optimized organization and service delivery. As the old saying goes, “cleanliness is next to Godliness”. That applies in digital domains as well, and when you can manage information more effectively, that enables your healthcare clinic.
Expanded Competitiveness
When you’re able to save money without sacrificing service delivery, that enables your healthcare business to focus on what’s most important: patients, and the latest medical breakthroughs that benefit those patients. These things will increase your profit-to-expenses margin year over year, facilitating more worthwhile community contributions for your clinic.
Expansion involves scaling out. When you scale out, you’ve got to increase your patient load. Granted, expansion doesn’t generally take place until you reach a certain threshold of reliable service delivery. The thing is, once you start expanding, you’ve got to meet that number quickly, or risk collapsing under the debt of associated scale-out.
When you’re able to leverage not only the hardware of modern medical equipment, but the software of modern medical solutions against operational costs, you’re likely to see increased profits. When you’re making money, you’re able to compete against other, similar healthcare businesses more efficiently. You’re more competitive, and your budget stretches further.
