Healthcare costs are everyone’s concern. Government budgets can get affected with over spending in this sector. The challenge is not to compromise on quality.
We help a number of Singapore hospitals to monitor bill sizes for various DRG’s, compare one hospital with another, compare one discipline with other, and even compare one specialist with another for treating same illness. This helps identify how the hospital should price its products and also help individual disciplines to pay attention to the costs too while continuing to strive for the best care for their patients.
As an extension of this, we help with efficiency of AR and AP and supplier management to negotiate better rates with better projections and deals.
In the private healthcare space, we have helped hospital administrators to identify which are the departments who make more money and who are the specialists who are contributing how much to the hospital revenue. We help them monitor the patient trends with respect to demographics, length of stay, cost of treatment on the one hand and on the other hand help with better running of the hospital with tracking the expensive OT utilisation and inventories, and better procurement, bed utilisation, and staff utilisation.
Found time to go fishing after 3 years!
Michael Chen, CFO, Alexandra Hospital