Making the tough choices for cost control
Smith, B.; Hardaway, R.Brent.
Healthcare Financial Management Journal of the Healthcare Financial Management Association 58(7): 52-58
2004
ISSN/ISBN: 0735-0732 PMID: 15298294 Document Number: 574898
To prioritize cost savings, providers can benefit from following a fundamental approach that involves using easily attainable small-scale initiatives (less than 50,000 dollars) to support larger-scale projects (typically over 250,000 dollars) that can realize improvements in six months. Increases in capital that result from these efforts can then be used to focus on equally important opportunities where the organization has less control, or payoff may take longer.