Cost saving strategies?

1. Staffing Efficiency

• Staff Scheduling: Have a skeleton permanent staff appointment with temporary workers making up the shortfall. This way if your resident numbers are down you can reduce the staff to match the acuity.
• Reduce Agency Dependence: Build up a database of temporary workers that can be called in on an ‘agency’ basis to avoid agency costs.
• Improve Staff attendance: Absenteeism is a huge loss for any company. This needs to be monitored and managed actively. Leave must be scheduled and taken to prevent burn out.

2. Procurement Management

• Bulk Purchasing: Negotiate bulk discounts with suppliers ie: nappies
• Inventory Management: Implement a ‘just-in-time’ (JIT) inventory system to prevent overstocking and waste. Expired goods count as waste and is an unnecessary write off.
• Review Vendor Contracts: Regularly renegotiate supplier contracts to get better pricing.

3. Energy and Utility Cost Reduction

• Energy Efficiency Measures: Use LED lighting, motion-sensor lights, and energy-efficient appliances where possible. Natural lighting and air is naturally the gold standard here. Don’t use air conditioners unnecessarily.
• Water Conservation: Install low-flow fixtures to showers and taps. Upgrade toilets (older toilets use significantly more water than modern toilets). Recycle rain and bath water for gardens and toilets.

4. Medication Management

• Switch to Generics: Encourage residents to switch to generic medications where possible.

5. Technology and Automation

• Electronic Health Records: Reduce printing costs

6. Education

• Staff to be educated in terms of awareness of cost saving measures. 

Im sure there are a lot more.