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6 Ways to Increase Productivity in Healthcare Start-Ups

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  • 6 Ways to Increase Productivity in Healthcare Start-Ups
  • Aug 06, 2020
  • Posted By: MedicoReach
6 Ways to Increase Productivity in Healthcare Start-Ups

Healthcare is a value-based industry. It is becoming increasingly important and demanded for the obvious reasons. The relationship between patient and healthcare professionals is not limited to providing services. But offering a quality patient experience too. In order to achieve client satisfaction, senior healthcare professionals are making all possible efforts that increase their efficiency, risk management, and other related factors. Therefore, more than anything, the center of attraction has become productivity and ways to maximize the experience and minimize the cost. However, to do so, there are some pivotal questions that must be considered, such as:

1. How can a healthcare start-up provide maximum satisfaction and yet not be overburdened?

2. Is the current state of the company has time for productive strategy building?

3. Are we optimizing the returns earned so far?

We see a growing expectation from healthcare established companies and, most importantly, from start-ups to provide quality care, be quick, and upgrade technological equipment. The pressure to be effective is becoming difficult to handle. This definitely calls for re-checking the existing workflow and remove any pertaining errors. Regardless of how established or new the company is, the healthcare organization should always be focussed on their specialties, smooth staff workflow, and adaptive nature towards innovation.

The healthcare start-up generally works on the pillars of 5 Ps. They are Predictive, Preventive, Point of Care, Parametric, and Personalized. This has worked for many established firms too.

5 Ps for precision healthcare

There are plenty of benefits to have a smooth workflow for a healthcare start-up. Some of them are given below:

  • Increases client growth
  • Enhances the productivity of staff
  • Identifies constraints and remove them
  • Reduces loss of funds
  • Speed up workflow
  • Organizes the work management
  • Elevate customer satisfaction
  • Increases overall revenue
  • Most importantly, it builds the trust factor

There are various other doubts when it comes to healthcare start-ups. But to providing excellent client experience and enhance productivity, let us learn most about it through six different methods.

1. Design a planner: Every venture needs a plan to identify its purpose of functioning accurately. The healthcare industry experienced a frequent decline in productivity, even after spending mainly on technology. There it is essential to know the cause of why you have established a healthcare start-up and what do you expect as an entrepreneur to achieve in the nearing future. Usually, start-ups fail because of the weak team, which is 23 percent the case, and the other 19 percent is due to the unbeatable competition of the industry, claims a survey.The planner should be designed on various factors like:

  • What are the available funds?
  • How does the company see its future?
  • What is the specialty of the healthcare firm?
  • Who are the target audiences?

Funding is also believed to be a necessary hurdle on the way of healthcare start-ups. It is believed that about 4 percent of healthcare productivity could improve only if economic models were well-planned.

2. Improve healthcare labor: Some private sectors and John Hopkins were asked to improve the productivity score. To which the Hopkins team was of the conviction that while building a hospital, the focus shall stay on quality and reducing capital and operating costs. The majority of the capital is spent on hospital labor costs, which should be improved and redesigned. The cost should not be wasted as being a start-up that may act against the productivity score. You may have fewer employees, but the quality shall stand high. Fewer labor costs and more labor may increase dissatisfaction in professionals.

3. Reduce paper documentation: Generally, the loss of productivity lies under the burden of paperwork. As the healthcare system is progressing, it is believed that paper documentation should be replaced by online saved records that do not need a pile of files on your desk. Healthcare professionals spend hours documenting the reports of various types, like patient reports, medical reports, employee documentation, hospital paperwork, and the list goes on. This burnout the productivity of the members. Having EHRsis the best solution for a start-up. EHR is Electronic Health Records. About 86 percent of errors in the healthcare industry are related to administration. Therefore EHR aims to eradicate that. The benefits of using HER are mindboggling. Some of them are:

– Maintains accurate reports

– Reduces duplicate reports of test and treatment

– Improves efficiency and quality of work

– Eradicate chances of errors related to paperwork

– Reduces overall health expenditure

why Ehr 

4. Offer incentives and acknowledgment: You may wonder why a start-up would give away incentives and rewards. But to enhance productivity, it acts like fire in the woods. Disengagement from work is a constant problem, and the healthcare industry is no exception. Start-up enterprises in the initial phase cannot afford this plight. Therefore, to keep the employees and healthcare professionals pleased and felt acknowledged, recognition of efforts must be practiced. Not only it elevates the productivity of individuals but also uplifts team spirit.

5. Use a universal communicative app: Start-ups generally have less number of members. Therefore to stay in sync and connected for work-related matters, using a standard communication app is an excellent method of uplifting productivity. It is easy to use through your smartphone, and the job is done.

In the healthcare industry, communication plays an integral part to pace up the work. A communication app like Slack will allow healthcare workers to coordinate at all times.

6. Equip the team with relevant tools: We all know how technology has smoothened our personal and professional lives. By picking the right tools, you can equip your team with better productivity. Like time tracking apps, productivity measuring apps, collaboration tools, etc. can be beneficial for your healthcare start-up.

To ensure the employees’ limited working hours are completed, the time tracking app is a bliss. The same is the case with productivity measuring tools. Hubstaff is one such place where workplace efficiency and productivity can be taken care of.

Collaboration tools merely the meaning of teamwork and helps members work in collaboration in real-time.

Conclusion:

Start-ups face trembling pressure due to competition, employee expectations, customer expectations, and, more importantly, sustaining itself under limited resources. These ways will delightfully be helpful in increasing the productivity of your healthcare existing business or start-up and succeed you in time to come.

 

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