One of the common cost-cutting mistakes healthcare systems make is not investing in equipment, according to an article on the Becker's Hospital Review website.
Idle equipment is less expensive than idle providers and investing in extra space and equipment will likely be cost-effective in the long run, the article said.
Focusing on supplier discounts instead of individual clinician consumption is also a mistake, the article said.
Research also recommends analyzing the full cycle of care for each condition to determine the lowest cost.
17 Million Patient Records Stolen in PIH Health Ransomware Attack
Holidays are Prime Times for Healthcare Cyberattacks
Hartford Healthcare Forms Partnership to Open Health Equity Clinic
UCHealth Reveals Plans for Memorial Hospital North Expansion
What Are 'Hospi-tels'?