This Is How You Can Reduce Costs and Improve Your Hospital Operations
From tighter budg...
Just about every industry in the United States is cutting back costs in order to save some money, including the health care industry.
From tighter budgets to increased operating costs, hospitals all across the country are putting their finances first without affecting how they serve their patients.
With financial health in mind, here are a few ways hospitals are saving money.
1. Employee Wellness Programs
Hospitals spend a fortune on health benefit plans for their employees and, considering the work environment, hospital staffers get sick more often than not.
To help keep employees healthy and offset the growing cost of employee healthcare coverage, many hospitals across the country are implementing wellness programs.
These wellness programs promote healthy lifestyles both in and out of the hospital.
From eating healthy to getting plenty of sleep to getting regularly scheduled physicals and checkups, hospitals are lowering the costs of health benefit plans by keeping their employees healthy.
2. Motion Sensors and LEDs
Depending on the size of the hospital, many health care facilities waste thousands of dollars on energy costs.
In fact, some hospitals light halls, rooms, and wings that aren't even used on a daily basis. That’s where energy-efficient motion sensing lights and LED bulbs come into play.
By using motion sensor lighting, hospitals cut utility costs because lights only come on when someone is in the room or walking down the hall.
Likewise, hospitals are also equipping overhead lighting and wall fixtures with LED lights, which use 70 percent less energy than standard bulbs.
3. Paperless Records
From paper costs to ink, printing, and filing costs, paper records and documents really eat up a hospital's finances. As a result, many medical facilities have turned to a paperless filing system.
As the following article shows, by turning to the cloud for data storage, hospitals all across the nation are saving money on paper and printing supplies, which is how big data is transforming the world of finance for the medical industry.
Not only that, going paperless also increases filing and patient record efficiency.
4. Solar Energy
Hospitals are generally large and in the open, which makes them the perfect candidates for solar panels. A number of U.S. hospitals have already switched to solar energy to power part or all of their facilities including equipment and lighting.
Solar power installation isn't cheap, especially when it's a large-scale project like a hospital.
However, the government is stepping in by offering federal energy grants, tax rebates, and other incentives for hospitals that run on solar power.
5. Standardized Patient Care
Many hospitals are cutting operating costs by encouraging their physicians to standardize patient care procedures. This includes following protocol when it comes to testing and checkups.
Standardized care eliminates unnecessary health care procedures, which saves the hospital money on staff costs and saves patients money on general healthcare costs.
Standardized patient care also reduces the waste involved with using supplies like syringes, gauze, antibacterial soaps, and hand sanitizers during unnecessary procedures.
When it comes to the financial health of hospitals, the cost-saving practices above are definitely helping the medical industry save money.
About the author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including health and finances.
Bachem turns 50 - a timeline
Bachem, a supplier to pharmaceutical and biotechnology companies worldwide, is celebrating its 50th anniversary this month. We take a look at the Swiss company's history.
1971 - beginnings
Bachem is founded by entrepreneur Peter Grogg in Liestal, a small town near Basel in Switzerland. Grogg started the firm with just two employees, and with a focus on peptide synthesis - peptides are composed of amino acids that have a variety of functions treating health conditions such as cancer and diabetes.
1977 - 1981 - early growth
Bachem moves its headquarters to the Swiss town of Bubendorf, with eight employees. In 1978 the company produces peptides for use in medicines for the first time. In 1981 production capacity triples and the workforce grows to 150.
1987 - 1996 - worldwide expansion
The company expands into the US with Bachem Bioscience, Inc. in Philadelphia. To strengthen its presence in Europe, Bachem opens sales and marketing centres in Germany in 1988.
Further sales centres open in France in 1993. By 1995 the company employs 190 people. In 1996 it acquires the second largest manufacturer of peptides in the world and forms Bachem California with a site in Torrance.
1998 - 2003 - Bachem goes public
Bachem company goes public and lists shares on the Swiss Stock Exchange. Further acquisitions include Peninsula Laboratories, Inc, based in California, and Sochinaz SA, a Swiss-based manufacturer of active pharmaceutical ingredients. By 2001, the company has 500 employees and sales reach 141 million CHF.
In 2003 the organisation is given a new legal holding structure to support its continued growth, which remains in place to this day.
2007 - 2013 - acquisitions
Bachem acquires a brand by Merck Biosciences for ready-to-use clinical trial materials and related services.
In 2013, together with GlyTech, Inc. Bachem announces the development of a new amino acid that can help to treat multiple sclerosis, with a world market of more than $4 billion.
In 2015 it acquires the American Peptide Company (APC), which becomes integrated into Bachem Americas.
2016 - 2019 - a global leader
In 2016 the group opens a new building dedicated to R&D projects and small series production in Bubendorf. With a total of 1,022 employees, the workforce exceeds the 1,000 mark for the first time in the company’s history. Sales are over the 200 million mark for the first time at 236.5 million CHF.
Bachem expands into Asia with the establishment of a new company in Tokyo called Bachem Japan K.K.
By 2019 Bachem has a growing oligonucleotide portfolio - these are DNA molecules used in genetic testing, research, and forensics. It is hoped this will become a significant product range in the future.
2020 - COVID-19
Despite the COVID-19 pandemic, Bachem secures its supply of active ingredients, and even increases it in critical areas. Sales exceed the 400 million Swiss franc mark for the first time, and 272 new employees are hired.
2021 - a milestone anniversary
Bachem celebrates its 50th anniversary and position as a global leader in the manufacture of peptides. While it remains headquartered in Bubendorf, the company employs 1,500 people at six locations worldwide. In the next five years there are plans to continue expanding.
Commemorating the company's anniversary, Kuno Sommer, Chairman of the Board of Directors, said: "Bachem's exceptional success story from a small laboratory to a global market leader is closely linked to Peter Grogg's values, and has been shaped by innovation, consistent quality and cost awareness, as well as by entrepreneurial vision."