For almost any company, improving efficiencies and reducing costs is a main priority. In business, every dollar counts, and sometimes certain costs can consume your funds without you even knowing it. There are a variety of places in your company where you could be wasting money, chief among these is administration. Many companies want to cut down on administrative costs because they need more wiggle room for spending.
At HIE Networks, we have the answers! We provide healthcare technology that will increase productivity in your business dramatically and cut down on costs at the same time.
According to Investopedia, an administrative cost is one that is necessary to maintain a company’s daily operations, but they are not directly attributable to the manufacturing of goods and services. Administrative expenses are typically fixed in nature, so they stay the same regardless of the number of sales that happen. Healthcare administrative costs are those related to coordinating health and medical services. Some examples of healthcare administrative costs include:
- Claims processing
Here are two ways to reduce your private practice administration costs with healthcare technology so you can work less while making more:
Organize Your Office: If you are using traditional faxing and other communications equipment, you could be wasting a lot of time and money. Faxing means more paperwork and stress. It also requires extra employees to keep up with the hardware and filing. HIE has a solution to organize your office! Instead of losing faxes and possibly violating HIPAA regulations, try our healthcare technology solution. hFax will help streamline your communication. It is completely online so you can organize your faxes and find them easily. This will cut back on administrative services greatly. You no longer have to spend money fixing fax machines, buying ink and creating more problems. Additionally, because our solution scans all the words on the fax, you can retrieve them in seconds.
Evaluate Your Staff Productivity: Have you ever wondered about the time your staff spends collecting and sending medical records? You could be surprised at the answer. Taking time to evaluate your company’s needs by seeing what changes you could make can cut administrative costs significantly. You may realize that you don’t need all the help that you have, or you need more. It is important to hire people that can do a job for you faster than you can, such as an accountant for your taxes or HIE for your healthcare technology needs. Our product hConnect will automate the process of sending and receiving medical records and actually show you a return on investment. This can be done anywhere at anytime, so you can cut back on employees…and costs!
Here are some simple ways to reduce administrative costs every day:
Telecommunicate: Having employees who work from home or even part time can reduce or eliminate the cost of office space. You may realize that there isn’t a purpose for some employees to be physically present in your office at all times. Sometimes, employees who have the opportunity to work from home will accept less salary due to the freedom that they acquire from telecommunicating. HIE’s communication solutions are all online, which makes it easier to communicate, even when someone isn’t in the office.
Upgrade your technology: In the healthcare system, it is vital that patient’s records and other important files are organized and secure. To do that, you must upgrade your technology to keep up. Upgrading your healthcare technology can help with these things: coding inaccuracies, coordinated care, and patient outcomes. It can also save you a lot of time and money! The good news is that HIE can help. Our healthcare technology solutions can improve the way your company works.
Go Green in Your Office: Going green and eliminating paper in your office can make a huge difference to not only the environment but for your administrative costs as well. It’s a good idea to encourage your employees to reuse whenever it is necessary. Try getting rid of paper and plastic utensils and other office supplies. Instead of wasting paper through faxing, try going electronic. At HIE, we provide a fax solution called hFax that eliminates fax machines completely and switches to a fully online service. Our healthcare technology can help you cut out paper usage almost completely.
If you want to cut down on administrative costs while also improving your company, then contact HIE Networks. Our communication suite offers four healthcare technology products to help streamline communication between providers that requires no fax machines. It is all online so you can communicate anywhere at any time. Give us a call to see how we can help you!