Home Health & Hospice Cost Savings Initiatives: Business Evaluation for Success
- Room: 122/123
- Session Number: 401
Monday, October 24, 2022: 3:15 PM - 4:15 PM
Expense reduction initiatives play an important role in any business no matter the state of the current economy. They can be complex & multidimensional, but a worthwhile endeavor. Decision makers need reliable and valid ways to measure the cost saving & leaders need to understand the good work and progress already created to measure the impact of any new initiatives. Once a decision maker identifies areas where a business should reduce costs, it’s important to develop principles to improve consistency & reliability for optimum success. Leaders need to effectively implement these strategies to an organization, knowing that with any change, there will be ongoing conversations & other changes that take place as a result. This session will discuss identifying top cost saving benchmarks for home health and hospice organizations, describe cost reduction initiatives to and how to strategize implementing them to positively impact client & employee satisfaction while improving the bottom line.
Course Level: Intermediate; 1.2 Accounting CPEs (NASBA/FIN) 1 Nursing CNEs contact hours
1. Explain methods to reduce expenses while maintaining or improving quality care.
2. Describe strategies to achieve efficient productivity.
3. Utilize industry benchmarks to Identify areas for improvement.