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3 Methods You Can Use to Bring Down the Cost of Your Medical Supplies

If you own or manage a medical practice, you should know that a lot of the fees you subject your clients to are associated not with the expertise or the service itself, but are due to the medical supplies that you use throughout the process. It should be understood that with expensive medical supplies, your services will also increase in cost. Although it is understood that medical services aren’t actually all that cheap, it’s important to make sure that you keep your rates as low as possible so that more people who need special medical attention can avail of your service.

It’s not easy to cut back on costs especially when you’ve got an entire workforce waiting for their pay checks, but these simple tips should get you on the right track.

1. Keep an Inventory – When it’s time to restock your supplies, your inventory will serve an invaluable purpose. Knowing which supplies are running low and which are still in-stock will prevent you from purchasing them unnecessarily and spending money out of schedule. Of course, keeping an inventory of your medical supplies is much easier said than done, especially if you have a rather large practice. The best way to keep an updated registry of all your items would be to automate the system. Have all personnel keep tabs of their individual use of supplies and enter the number of pieces used per supply at the end of their shift. You can even use a barcode system that they can simply scan off of used items to ensure each single piece is accounted for.

2. Older Supplies Should Be Used First – Not all medical supplies were developed and manufactured to last a lifetime. Sterile products can also last so long. When medical supplies perish and expire, medical practices risk incurring thousands of dollars worth of losses in a single fiscal year. Because of this, it’s imperative that medical practice managers, owners, and workers seek to find a way to ensure that older supplies are always used first. Organize your supply room in such a way that ensures older supplies are kept towards the front so that they’re not overlooked.

3. Buy Medical Supplies from a Reliable Source – The costs that suppliers press on their customers aren’t all the same. The best way to really cut back on costs when it comes to medical supplies is to buy them for a more affordable price. Check out your options and shop around before you make a deal with any supplier. Compare their rates and see who gives you the best deal without sacrificing quality. You can also save a dollar or two by staying loyal to your chosen supplier. It’s not impossible for a supplier to throw a discount or freebie your way, especially if you’ve developed a long term relationship.
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