Public healthcare funding is facing challenges. In Finland, the Act on funding of wellbeing services counties makes the situation even more complicated for wellbeing services counties. In Sweden, inflation and rising interest rates have forced even the esteemed Karolinska Hospital to adjust its staff. Now is the time to cut costs, but how can it be done without compromising the quality of care? And how can Axel help healthcare organizations save even more?
1. Downsize staff in support functions
Reception functions, administration, invoicing, and operational planning – all of these functions undoubtedly have skilled and motivated people, but many of these tasks can be handled more efficiently and cost-effectively with Axel's solutions. Patient self-service and more efficient, automated planning reduce the need for human labor. Downsizing can be done either directly within units or by centralizing certain services, allowing unit-specific operations to be discontinued entirely. To alleviate the resource shortage in healthcare, professionals released from support functions can be utilized elsewhere, especially in direct patient care.
2. Optimize the use of spaces
Walls cost money. Large walls cost even more. Reducing the network of locations and downsizing facilities saves on rent, maintenance, electricity, transportation, and middle management. To achieve the same volume of services with fewer locations, healthcare operations need better planning. Dynamic use of space and automated, centralized planning bring cost savings!
3. Reduce financing costs
Remember the days of zero interest rates? Those times are behind us. Nowadays, money costs! Financing costs can be reduced by getting money into the cash flow faster. Part of this problem can be solved by collecting patient fees more efficiently, for example, immediately upon service delivery. This solution has been implemented in hundreds of other industries, and Axel Health has also implemented it in healthcare. Having the same money in the cash flow 30-90 days faster translates into savings of millions of euros or tens of millions of crowns.
So, you want to cut healthcare costs? Excellent. We are here to help. Check out our ROI calculator to see how it can be done, and get in touch with us so we can calculate your cost savings more precisely together.