How you can save money and cut costs for your medical practice

Opening up your own clinic is a costly process. Right from arranging for permits, investing in real-estate space, and paying for staff and equipment, it can feel like you are on a negative bank balance even before inaugurating your medical practice!

Share or rent out your office space

One smart way to save some money and also earn some on the side, is to rent out a part of your medical practice to a relevant co-owner.  For example, if you lease out part of your entire space to a pharmacy or diagnostic centre, not only are you saving yourself some money, but also providing your patients an additional service that saves them valuable time!

Buying all your equipment from one supplier

There are several advantages to engaging a single distributor for your medical equipment needs –

You needn’t worry about following up with different companies for different equipment. All aspects of your equipment sourcing (right from placing your order, up to delivery and after-sales services) can be managed through a single companyYou can negotiate for bulk purchases, and also better deals for installations, trainings and after-sales services.

Buying used or refurbished equipment

There is no denying that the purchase of used or refurbished equipment instead of brand new equipment, can offer several cost-benefits to your healthcare facility.

However, a lot of time and effort must go into understanding the extent of refurbishment, the warranty coverage, and other factors. Buying used or refurbished equipment has some severe downsides –

The medical equipment industry is marred by distributors and resellers – So you might never truly understand the state of the original equipment and the level of refurbishment that has been done of a piece of equipment. It is very unlikely for the equipment to be covered under by warranty in case of any issues that might arise.The lifespan of the equipment is questionable – So you might either spend money on repairing the equipment or purchasing an alternative in a few month’s time.

Therefore it is extremely important to buy refurbished equipment (if you must), from a reputable seller – preferably someone you know personally.

Investing in a solid Hospital Information System

Health Information Systems (HIS) present several opportunities to dramatically improve healthcare delivery to the patient.

A good HIS can organise patient data, manage financials, improve communication across departments, manage staff, save time and your money.

At the end of the day, good medical equipment can set the tone for your medical practice. Not only would you able to provide good quality care to your patients, but they also would be motivated to come back to you for future appointments.

Zepnur engages innovative health companies that provide products and services at an economical cost to the doctor. Get in touch with us to know more!

Do you have any more ideas on how to save money for your clinic? Comment below.

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