How Healthcare Organizations Can Streamline Workflows as a Cost-Saving Initiative

A daunting financial landscape doesn’t mean innovation and partnerships take a backseat. Healthcare organizations are expected to enter strong financial headwinds in the first quarter of 2023, with high inflation, labor shortages and continuing sickness from COVID-19 and other viruses. Hospitals continue to report negative operating margins for the end of the year. Some health systems are eyeing real estate changes to find cost savings or drive more value. Organizations can also consider process changes to streamline workflows and cut costs. Automation, stronger cybersecurity, managed services, and contract and supplier consolidation are all areas where healthcare organizations can focus their efforts for the new year. Process automation is technology that can be implemented today that can impact the bottom line for labor costs and increase efficiency. Such automation can also be used to improve processes across an organization a tougher task, but one that can open the door to cost savings.