Operational efficiency is the capability to deliver cost-effective and quality products and services to the customers.
In the case of healthcare, this translates to hospitals and medical establishments being able to provide the best healthcare services to their patients while optimising their operational costs.
Medikabazaar.com is a pioneering and leading B2B website for the online procurement of medical supplies. Being a leading solution provider across hospitals and medical establishments, we have gained a deep insight into the operations of these healthcare providers.
Based on this and our exposure in the global healthcare market, we recommend several best practices that hospitals and medical establishments can adopt to achieve operational efficiency.
MINIMISING COST OF GOODS PROCURED
Medical supplies constitute one third of the total cost of operations (TCO) and is the second largest financial head for hospitals. In India, many medical establishments still have conventional procurement process for buying regularly required medical consumables. They have very little exposure to new and competitive product information. There is a significant lack of data needed for product procurement planning. Thus, they end up deciding on wrong quantities, expensive products, excess or shortages in inventory etc. This leads to revenue leakages which affects healthcare delivery cost.
Nowadays, the internet has deeply penetrated into the personal consumption space. However, business organisations are still not gearing up to adopt Internet for improving their business processes.
The Internet is ubiquitous, transparent and an agile digital platform to facilitate business processes. Unlike conventional mode, information about the product, prices and brands are always updated on a digital platform. The convenience of selection offered by digital product catalogs is unmatched.
Imagine the power and flexibility that Internet provides to businesses. By adopting online platform, hospitals and other medical establishments across India will have convenience of searching for products, comparing prices and alternatives, ordering products and getting them delivered at the doorstep. The conventional distribution network cannot reach out to remote areas.
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