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NextEdge Health Experience Summit
2015-11-03 - 2015-11-04    
All Day
With a remarkable array of speakers and panelists, the Next Edge: Health Experience Summit is shaping-up to be an event that attracts healthcare professionals who [...]
mHealthSummit 2015
2015-11-08 - 2015-11-11    
All Day
Anytime, Anywhere: Engaging Patients and ProvidersThe 7th annual mHealth Summit, which is now part of the HIMSS Connected Health Conference, puts new emphasis on innovation [...]
24th Annual Healthcare Conference
2015-11-09 - 2015-11-11    
All Day
The Credit Suisse Healthcare team is delighted to invite you to the 2015 Healthcare Conference that takes place November 9th-11th in Arizona. We have over [...]
PFF Summit 2015
2015-11-12 - 2015-11-14    
All Day
PFF Summit 2015 will be held at the JW Marriott in Washington, DC. Presented by Pulmonary Fibrosis Foundation Visit the www.pffsummit.org website often for all [...]
2nd International Conference on Gynecology & Obstetrics
2015-11-16 - 2015-11-18    
All Day
Welcome Message OMICS Group is esteemed to invite you to join the 2nd International conference on Gynecology and Obstetrics which will be held from November [...]
Events on 2015-11-03
NextEdge Health Experience Summit
3 Nov 15
Philadelphia
Events on 2015-11-08
mHealthSummit 2015
8 Nov 15
National Harbor
Events on 2015-11-09
Events on 2015-11-12
PFF Summit 2015
12 Nov 15
Washington, DC
Events on 2015-11-16
Articles

Managing the Finances of Implementing New Medical Technologies

managing finances
BIRMINGHAM, UNITED KINGDOM - JUNE 14: A doctor at The Queen Elizabeth Hospital Birmingham does his rounds on the wards on June 14, 2006 in Birmingham, England. Senior managers of the NHS have said that the organisation needs to become more open in the future. (Photo by Christopher Furlong/Getty Images)

When it comes to the medical field today, there is a lot of radical technology that is advancing the entire industry. However, the costs of this can be quite high. If it is your job to handle these costs and implement the technology, then you need the right game plan to manage it the right way. Here are various tips you can use to make sure you can stay profitable while putting the new tech into place:

SOPs

If there is any process that is done in your company more than once, then it should be automated. This is a great principle to keep in mind and try to uphold where you work. This has a number of advantages, but you might need some guidance on how to put it in place.

The first advantage that a standard operating procedure brings your company is speed. When everyone knows exactly how a certain task is to be accomplished, you cut out a lot of the confusion in the first place. This keeps people from making the same mistakes again and again. It also means they will be faster at their job.

When something is automated in SOP documents, it also means that you increase your chances of being in compliance with all the regulations you need to uphold. The last thing you want is a legal battle on your hands.

To create SOPs, it is actually quite simple. Sit down and write out each step of each process. This might take some time. It is the definition of simple, but not easy. However, it is more than worth your time.

Meetings

Meetings might not be fun, but they sure are effective. Make sure your team understands how you are going to install and use this technology. Get them going on it faster rather than waiting. Then, the training costs will go down.

Motivation

The medical field experiences a lot of change. One of the constants, however, is that you need to keep your people motivated. They might feel like their position is becoming harder or even going to be phased out with technology. Keeping them on the same page as everyone else is going to be crucial to implementing your new medical technologies as time goes on.

Training and Continuing Education

You may need to get special training. However, ideally, you will have been training your people all along. The more people you have on your staff that are trained with different specialties, the more you can bill and the less you have to work to accomplish the new implementation of the technology.

Outside Consulting

Whether you run a stem cell therapy center or general hospital, getting another view on the matter is always helpful. It can clear up things that seemed murky before. Hire a consultant to help make the installation go even smoother than you had hoped.

Negotiation and Bulk Ordering

Sometimes, the best strategy with new technology is not to be prudent. Instead of testing the waters with one order, you might be able to save a bundle by getting a lot of machines at one time. Make sure you love the solution first, then pull the trigger on a bigger order at a discount.

In today’s world, there is more medical technology than ever before. It is critical that you handle the implementation of it in the best way possible that minimizes costs. After all, costs are already soaring. Finding ways to reduce implementation expenses will help your medical company grow, no matter what kind of service you offer. Then, you have more profit to grow in the future without taking on as much risk