One Bad Decision Can Cost a Hospital Millions

Things can go wrong without the right team in place

I recently read an article that was attempting to explain the cost overrun experienced by a hospital during the launch of their new EMR. The article was clear on what caused the overrun but failed to communicate why the decision was made that created the cause.

In many hospitals, emotions can run high fueled by attitudes of resistance to change. The pressures and stress associated with go-live can be a challenge to manage; however, allowing those forces to affect decision-making can have lasting adverse financial effects. When all planning, budget, constraints, and common sense that should be applied are set aside, you can almost always expect the worse. It may feel like appeasement is the right thing to do to relieve the stress, but it may not be the best thing. Sticking to the plan, and staying within the budget should always be the guiding factor that drives decisions even when the pressure is great.

It’s unfortunate, but some decisions are based on problems that may not exist at all but are only perceived based on excessive negativity. Having an experienced team in place that can help make decisions based on fact is vital.

Negotiating Skills Do Pay Off!

When doing logistics, treat it like it’s your money

Getting one of the best hotels in the city to give you the lowest rate with great concessions is excellent. In this agreement, the hotel managed the flight itineraries and provided transportation to and from the airport. They supplied one large conference room for orientation and then surprised us in the contract with a complimentary welcome reception for 120 guests with heavy hors-d’oeuvres. Provided two fifty-six seat luxury buses and several shuttles to transport consultants to the training facility and back. They also agreed to use their shuttles to take those consultants that worked within two miles of hotel to work and back each day. Everything listed above was in the price of the rooms $105.09 with tax. Note, this took a huge burden off the consulting firm, and the savings were passed on to the hospital.

When a hospital hires a consulting firm, that consulting company should put forth all effort to save money, not spend money. Creating a positive cost variance (CV) indicates the consulting firm is in fact on your team. Negotiating for the best price is good, but getting the most value for the lowest price is better.

Consultants Saved the Day!

Good consultants can mean the difference between success and failure

I sat in an auditorium with over three hundred consultants when the speaker invited to the podium the senior implementation project manager. “Dr. So and So has overseen the EMR implementation of nineteen plus hospitals please give him a round of applause.” Wow, nineteen projects that’s impressive. However, it turned out to be a challenging project in many areas but mainly with significant workflow issues.

Although it is confusing why this happens, it is clear the leadership was out of touch. Seeking someone with excellent qualifications can be attractive for any hospital, but having someone with the insight that can eliminate problems before they exist is priceless. I am not sure why this project manager didn’t know this.

Fortunate for everyone the consultants came with the experience and knowledge necessary to handle these types of issues. Jumping into action and based on past experiences they began the process of educating the staff and leadership on what works. This go-live would have never survived without the tremendous efforts of the consultant.

Comic Book Industry Blunders

What includes turned out badly inside the business and would it be able to be settled? The assault and loot, according to

a few, may have left the comic book industry panting forever bolster. It appears that for an

industry that has seen so much achievement, the historical backdrop of comic books, has evidently been

jumbled by apparently imbecilic oversights.

The first could have exceptionally well been the begetting of the name “comic books”. The soonest forms

of the purported half-tab (for half newspaper) reprints of the Sunday funnies (the funnies) moved toward becoming

known as “funny books”. This prompted the reasoning as a rule, that comic books contained comic

or on the other hand entertaining material, which we as a whole know, is a far stretch from the real world. Comic books can be extremely

serious, dim or audacious magazines. It has regularly been proposed that there ought to be another

term begat to more readily depict this abstract bundle we as a whole know as comic books. To date, no

other client companion term has been proposed for use in the comic book industry.

A second confusion came when magazine costs began to rise. Rather than expanding comic

book costs, as other effective magazines did, the comic book industry chose to slice pages to

keep the then current sticker price of 10 pennies. This expedited the feeling that comic books

were “shabby” by definition, and ignored the way that a dime was a considerable measure of cash at one time

(steak and eggs cost 35 pennies). This displayed the picture that comic books were only for kids. It

additionally made the item progressively less reasonable for retail vendors to stock. Why take up the

same rack space, when a higher evaluated magazine would accomplish all the more pleasantly. Again the apparent

estimation of the comic book was losing validity.

At that point as the 1950s moved around, a person by the name of Dr. Frederick Wertham, distributed

a book entitled “Temptation of the Innocents”. Using informal research and

suppositions, he expressed that all the country’s ills were specifically identified with kids perusing comic books

(ok well, what?). Fundamental to his proposition, was the misassumption that comic books were entirely for

kids. The more grown-up material, it was nonsensically accepted, was gone for our sweet, guileless

blameless kids. Truly, we do need to secure our youngsters, yet despite everything it disturbs me forever, that

certain vainglorious people trust their present situation is to influence whatever remains of the planet to follow

to their very own convictions. On the off chance that this were the situation, at that point our extraordinary nation would have never been

established.

With this fiercely silly assault on the comic book industry and numerous congressional pioneers

bouncing on the temporary fad, comic books were picking up an awful notoriety. The comic book

industry distributers now, could have united together and proclaimed that comic books, as

films, were not “only for kids”. It ought to have been expressed that the extensive variety of comic book

kinds spoke to was focus to as wide a scope of perusers. Everything except one of the distributers

(William Gaines, distributer of EC Comics) clasped under to this Congressional Investigation and

the Comic Code Authority was made. This represented the substance of comic books and guaranteed

that for the following 15 years or somewhere in the vicinity, the scholarly substance would not transcend that of pablum for

the psyche. Along these lines another slide into extraordinariness for the comic book industry occurred.

Can the comic book industry be spared? Possibly, however when the people accountable for the

sparing are as energetic as ever to commit similar errors once more, what will the result be?

They don’t have all the earmarks of being blade enough to commit new errors.

The Worst Cashflow Mistakes Small Business Owners Make

The worst cash flow mistakes a small business owner can make can be counted on one hand. They have one thing in common, and that’s about failing to follow the money. They’re about keeping your eye on the prize, and we go through them here, ending with advice about how to track your own company money using expense management software for small businesses…

Failing to think before you splurge. Great! You’ve started a business. You’re on the road to fame and fortune, and now’s the time to invest in an expensive suit and a new car, isn’t it? No, in short, it isn’t. This is exactly the time NOT to commit money – yours of the company’s – to anything you don’t need. So there’s the first lesson. Understand the difference between ‘want’ and ‘need’. To succeed in business you need a phone, but the Armani suit can wait…

Expecting the best. This is about your financial planning. Understand that you’re not going to be a millionaire in the first year. On the contrary, you’ll be doing well if you can afford to pay yourself anything like a salary in Year One. If you overestimate the number of units you can sell, or the clients you can get to come on board, then revenue will be lower than you predict, and you may find yourself overstretched with any finance package you’ve put in place.

Offering credit. Poor paying suppliers can cripple small businesses. If you’re made to wait for payment, that’s like offering them an interest-free loan, and you shouldn’t do it. It’s perfectly reasonable to ask for payment up front, so long as you’re ready to honour your commitment. After all, you wouldn’t expect the local supermarket to give you a month or more’s credit on your grocery shop (though if you’re a supplier to them, the boot would be on the other foot). In general, large organisations are slower payers, and also have complex internal procedures in place about how and when payments can be made. Better to work with smaller companies, where you have direct access to the person with the power to pay.

Being cash poor. If you’ve made careful and conservative cash flow forecasts in the early days of your business, everything’s fine, so long as cash moves as you’d predicted. But what happens if it doesn’t? If you have no cash cushion you could be in trouble. Try to have a couple of months-worth of cash in the bank so you could carry on if you had no income at all. It’ll help you sleep easier, too.

Not making an unpaid finance assistant work for them. Bet that caught your attention didn’t it? This is not about the kind of modern slavery that has people working for nothing, but it’s about technology. It’s about arming yourself with good quality business expense management software for small businesses and being disciplined in its use. In the early days of your business you need to be especially careful with money, because having little of it generally sharpens the focus in the need to be a good money manager. In later years, when you’ve earned a wedge, there’s no reason to take your foot off the control pedal. Keep a tight rein on finance, and you’ll be rewarded with better dividends in the future. Selection of the right small business expense management software will enable you to keep track of expenses very easily, but more importantly, it will allow you to interrogate the data, and show you how effectively you’re managing spending and cashflow – and show where improvements can be made. And picking the right package means it’ll offer excellent value for money, because the savings you make by using it are probably going to be more than the cost of investing in it in the first place.

Signs of Poor Taxi Service

find it easier to travel on a daily basis now. The lines between traditional taxi services and ride sharing services have blurred. This assimilation has increased expectation for ride sharing services to operate more like a professional cab service.

For a smooth and non-stressful ride, it is recommended to watch out for these red flags before a service is hired.

Unusually high fares
Cut throat competition has forced transport sector to drive innovation and continue reducing fares. This has been true for taxi services too. Unless there is a shortage of drivers due to high demand or premium services being offered, there is no incentive to pay extra.

Questionable maintenance
Good taxi services walk the extra mile. They often partner up with local bodies to have their cars certifiably inspected for faults. This translates into a safe and relaxed environment for its customers and repeats business. Any taxi service failing to ensure such maintenance regularly will naturally lose credibility.

Resistance towards technology adoption
Without a shred of doubt, technology has become one of the most integral parts of our lives. Without it, our complex ecosystem will collapse. A good taxi service tries to stay ahead of the curve and employs latest technologies. While this does increase their cost in the short term, it brings more revenue in the longer term. As a rule of thumb a good taxi company will employ at a bare minimum: –

– GPS tracking

– online bookings

– dedicated platform for drivers and customers

– email confirmation

Inflexible payment solutions
In an ever digitalizing economy, less people are carrying cash with them for daily settlements. While a bad taxi service turns blind eye to this, good taxi services see opportunity to retain and expand existing customer base. As such, they offer customers the convenience of paying via not only credit cards but cash and even wallet systems.

Non-existent or poor customer service
A substandard taxi company does not feel obligated to ensure customer satisfaction. Instead, it operates on a basic, no-frills business model. An important pillar of customer satisfaction is during service or after sale service. This is done to ensure that customers have an option to provide feedback or complaint about the service. The underlying idea is to empower users to speak directly to a company representative; to share positive feedback or raise concern.

A taxi service operating without customer service could potentially turn out to be the single biggest red flag. It goes on to display the concerned company has for its users.

Unprofessional drivers
Demonstrating professionalism for a driver is myriad of, rather subjective, intangibles. Being a professional driver is not simply about driving fluidly but also ensuring customer accompanied does not feel uncomfortable in any way. A good taxi company should, therefore, have a system of metrics in place to rate the performance of its drivers.

The list is not exhaustive in any form. Indeed, many of the indicators might be trivial to one person but a deal breaker for other. At the end of the day, the service that focuses its energies on customer convenience and facilitation is likely to triumph over others. If you need the best taxi service then make sure that they don’t have bad signs.

Best Strategies for Saving on Flights and Hotels

As a business owner, you always look for ways to save money when running a business. Amongst all areas business travel is one key area where you can find savings on flights and hotels. By following the best booking strategies and utilizing affordable options, travelers can reduce the cost of their business trip.

Here are a few ways to save on hotels and flights:

Saving on Hotels

Book hotels and flights together

Online travel booking sites offer price breaks for purchasing a flight and hotel together. Combined packages are mostly used by vacationers but also offer great value to business travelers with flexible preferences.

Surf online, book over phone

To get the best deals, browse through various online booking channels and figure out your preferred option. Get in touch with the hotel and ask them to reduce the rate further. This works as many hotels will go lower to avoid paying third-party booking fees.

Advance fees

If you are sure about your travel plans, nonrefundable hotel reservations offer the best price. Paying advance can save up to 20% on bookings made directly with hotels.

Take advantage of refundable bookings

Alternatively, you can make a refundable booking by looking for the best prices online. Hotels usually don’t have any cancellation fees like airlines.

Use corporate discounts

Businesses often negotiate with preferred hotel vendors and get discounts up to 40%. So, using corporate booking tools can give you the lowest possible fare when booking.

Last-minute travel

If you are booking in last-minute, you can find deals on unused rooms. Talk to your preferred hotels to know about possible cancellations. Also, searching last-minute booking sites such as Hotel Tonight can help you get other options.

Say no to cookies

Travel sites maintain cookies to identify customers with strong intention to buy. Clearing your browser history might give you more favorable prices.

Flight Saving Strategies

Travel during off-peak hours

Flights are cheapest between 5 am to 7 am and after 8 pm. Businesses can save an average of $116 per flight by flying at peak times.

Fly on specific days

Reports from recent studies revealed that Tuesdays, Wednesdays and Saturdays are the low cost days to fly. Flying on these days can save you money.

Take connecting flights

Direct flights are convenient, but flights with layovers will cost you less. Taking connecting flights is one of the strategies that can help you save money.

Check out from less expensive airports

When you search for flights, check the box “include nearby airports”. You can choose alternative airports that cost you less than others and not necessarily farther away.

Make early bookings

Tickets booked fewer than seven days before departure will cost you an average of 44% more than if they had been booked 15 or more days in advance.

Book on the right time

Airfares fluctuate throughout the week. Studies revealed that the best time to book air travel is Tuesday at 3 PM ET, the time when airlines will release their discounted seat inventory.

Leverage refund rules

Bookings made at least 7 days in advance can be canceled within 24 hours. This creates a grace period in which you can cancel your bookings if your travel plans are not final.

These strategies can help you save money while booking flights and hotels.