How Can Providers Reduce Operating Costs?


In the United States, hospitals spend over $1 trillion per year for everything from staffing to supplies, equipment, and more. Staffed beds near 1 million each year, and admissions per year are almost 37 million per year, as of 2018. Healthcare facilities of all sizes are constantly trying to reduce operating costs without sacrificing quality across the continuum of care and avoiding burnout among nursing staff?

Necessary Expenses

Providers have a number of necessary expenses to give quality care and ensure patient satisfaction. Hospitals want the best equipment available to meet the needs of patients. Qualified and caring staff are of the utmost importance, because patients require human contact, communication, and monitoring. Then there are additional costs, such as recruiting, preventing drug diversion, transportation, and others. Operating costs can always be lowered, but not without reducing the quality of care or risking those important CAHPS metrics. Many facilities feel like they are leaking money, but there has to be a way to find a middle ground.

Reducing Operating Costs

Hospitals and other medical facilities have been embracing new technology to reduce operating costs while maintaining high-quality patient care. Telehealth provides a wide range of cost-reducing solutions for providers without sacrificing the needs of the patient. Telenursing, for example, establishes a centralized station where nurses can monitor patients and address their needs without facilities worrying about having enough staff on-duty. The monitoring stations allow nurses to communicate with patients, watch them in case of potential falls or injuries, and check in on them as needed. Telemedicine similarly allows the administration of drugs, combined with the security and prevention required to greatly reduce errors and drug diversion, in general. Telehealth, when combined with qualified staff and emerging teleprofessionals, can greatly reduce operating costs for healthcare facilities while simultaneously providing the quality of care and communication to patients.

BANYAN has been at the forefront of telehealth solutions for facilities of all sizes throughout the United States. Our AURA Virtual Care Solutions have been implemented by top-rated hospitals throughout the country to reduce costs and improve patient satisfaction. Contact BANYAN today to learn how our solutions can help your facility today.