There's one topic on the tongue of every American: the extremely high cost of healthcare. Some rack up impossible to afford bills, others attend the doctor sparingly, some don't even have the option to get treated. That's why, as a medical office, your organization should be concerned with keeping your overhead costs as low as possible while still offering high-quality treatment and care. Don't let the battle for healthcare be the reason you lose customers and struggle to make profits; simply tweak your current spending plan to make it more affordable for everybody.

Shopping for Supplies
Every now and then, you've got to take a look over your contracts with your suppliers to ensure that you're paying a fair and competitive price for your hospital and medical supplies. The industry is currently very competitive and it's always possible to get great deals, especially on wholesale. Do some comparison shopping and consider buying your supplies from an online retailer; they're almost guaranteed to offer the lowest prices as little to no shipping costs.

Restructuring Equipment Leases
Most hospitals have a lease on certain types of equipment. Go over your leases and decide whether you get enough use out of each piece of equipment to justify the lease agreement. You could always consider getting a lease that's on a per-procedure basis as opposed to monthly if you don't use it very often. If you use a piece of equipment a lot, consider buying it to save money in the long run.

"Other" Expense Management
You probably spend more than you realize per month on miscellaneous expenses, and they most definitely add up. Always make sure you're considering the costs of your financial and legal advisors and getting a better deal if possible. If you don't already, consider getting VoIP to bundle your internet and phone plan for more affordable long-distance calls. Most importantly, go paperless if you haven't already – having an electronic billing and payment system saves a surprising amount on stationary and mailing costs. 

 

Sources

High Cost of Healthcare in the United States

To Lease or Buy Medical Equipment

The Challenge of Understanding Health Care Costs and Charges

Nursing supplies