Healthcare Consolidation: Managing Overhead Through Scalable Solutions

by | Jul 15, 2019 | Blog | 0 comments

The Current Climate of “Go Big”

The healthcare industry has been consolidating at breakneck speeds for the last decade, and it shows no signs of slowing down. The focus on value-based care, the evolution of patient demographics as our population ages, and a general drive toward profits is fueling the trend for hospitals and insurers to reinvent themselves by merging.

Large hospitals are opening up clinics at a rapid pace and mergers of smaller practices are on the rise as everyone fights for the primary care patient. From the potential CVS-Aetna megamerger to the growing common ownership relationships between hospice agencies and nursing homes, “bigger is better” is the new landscape.

According to the Modern Medicine Network, many smaller practices are looking to compete with larger players through consolidation, which allows them to share overheads and supply chains and expand their buying power with vendors.

This promotes the need for scalable solutions that will perform well across multiple locations.

Types of services that are scalable

  • Electronic health record software
  • Medical practice management software
  • Building energy management and automation tools
  • Enterprise class call recording system
  • Medical waste

Electronic Health Record (EHR)

EHRs, or electronic medical records, traditionally rely on legacy systems that employ on-premise servers that are not reasonably or cost-effectively scalable across multiple locations. Newer EHR systems that employ cloud technology and are HIPAA compliant should be investigated as they cost much less to deploy.Medical Practice Management Software

Medical practice management software allows a practice to schedule patient appointments and tasks and process insurance. When running multiple practices, it is important to ensure your software includes auditing tools that will help you track and improve performance going forward.

Building Energy Management & Automation

Building automation tools will enable you to automatically control building functions with a precision that cannot be achieved locally. Smart building tools can make use of optimal set points in conjunction with weather and historical occupancy data to run a building’s HVAC controls at their most efficient. These tools can save thousands of dollars over several practices.

Enterprise Class Call System

An enterprise-level call system offers automation and integration tools that can significantly improve efficiencies, reduce costs, and improve patient communication. There are a number of healthcare call systems available on the market that are HIPAA compliant.

Medical Waste

Medical waste costs can vary from practice to practice depending on volume and office location. Third-party medical waste haulers typically charge per weight and can charge additional fuel costs for remote locations. A good way to control costs throughout a consolidated practice is through an onsite solution.