The most critical service sector is that of healthcare and hospitality. Being a fundamental need of man, both healthcare and hospitality have the need to be agile and cost-effective. Further, the exposure to global systems is raising the bar each time, making it hard for smaller and medium-scale players harder to compete.
The most critical driver in this sector is that of service level and quality that need an explicit strategy at the organizational level.
While the conventional thinking in healthcare has been on technology and the rate of returns, the modern approach talks about securing a better handle by understanding the interplay between the two factors. As the cost of technological investments rise, the returns imply that the facility needs to balance between the price of the service and the management infrastructure that determine the net income from the investment(read price and volume).
Today's businesses need to think ahead of their time. So, even if an investment is made, the ability to service more number of patients together with the possibility to charge a premium have to be explored. This calls for a quick turn-around time of the patients and a value-based premium that the doctors charge. That revolves around multiple faculties like facilities planning, record management, technological interfaces, process engineering and queuing analysis.
Click here to learn more.
During our project in Maldives, we evaluated and found that the Public Private Partnership contracting model proposed wasn't truly one that leveraged the concept effectively. On the other hand, the overall structure seemed to increase the costs to cover-up the risks involved in the project.
PPP is an effective approach towards inclusive development when the strengths of delivery are optimized with the cost of the system to maximize public value. Our unique model combined the perspectives of target-pricing and cost-plus approach to create value for both our client and the government. And the hammer was... it lowered the cost of healthcare for the citizens! And that was no paradox... Surprised?
Connect with us here to learn more.