Health + Wellness: The Importance of Keeping Costs Down in a New Healthcare Business

Like any other business, healthcare businesses are focused on managing and reducing costs. Often, healthcare business owners and leaders are trying to find some form of financial predictability in an industry that can often be anything but predictable. Finding the right balance between cost and delivering a positive patient experience is difficult. While cost reduction strategies are important, it’s also crucial for healthcare companies to ensure that patient health is the top priority. Various cost reduction strategies can be used within the healthcare industry to reduce expenses while ensuring that positive patient outcomes are maintained.

Why Reducing Costs is Important

Healthcare businesses are like any other business in that they will have a financial problem when expenses exceed revenue. Many healthcare companies have focused on revenue for so long that they have lost sight of unnecessary costs brought about by high technology and labour expenses, supply waste, and inefficiently using resources. Reducing costs through things like looking at supplies, working with a payer contracting company to make sure they are getting the best payment rates, and looking after staff allows healthcare companies to invest more in providing better care and focus on positive patient or client outcomes. 

Find the Right Supplier

Most healthcare businesses need to work with a supplier, this could be to purchase products such as medicine for resale to customers, essential medical devices used for treatments of patients and clients, to shift management software that helps manage staff in a variety of ways to be more productive.

The suppliers that you choose can have a direct impact on your company, so it’s important to shop around for a supplier that is trustworthy, offers the products that you need, and has systems in place to protect your business. In the UK, offers products from various medical brands and is a trusted supplier of equipment to GP surgeries, care homes, and other healthcare businesses.

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Press Release: Asia CEO Awards + Healthway Medical Recognize Workplace Health + Wellness

Healthway Medical seeks to encourage companies to prioritize the health and well-being of their employees with this year’s “Wellness Company of the Year” award, a new category in the prestigious Asia CEO Awards.

Sponsored by Healthway, the award is open to any Philippines-based organization that successfully health and wellness in the workplace. The achievement can also come in the form of an organizational policy designed to support employee health. The overall accomplishment must demonstrate talent performance at the highest standards.

The criteria are as follows:

  • Management Achievement ~ The nominated organization must present specific health and wellness programs that improved employee health and productivity.
  • Workplace Enhancement ~ The nominated organization’s achievements must include improvements in employee health as measured by improved rates of employee engagement, attrition, retention and absenteeism.
  • International Recognition ~ The nominated organization’s accomplishments must be internationally recognized. This may involve situations where health and wellness practices developed in Philippines also enhanced processes in other countries.
  • Financial ~ The nominated organization must show how health and wellness programs reduced health care costs, increased employee motivation and diminished absenteeism.
  • Social Commitment ~ The Board of Directors must demonstrate a commitment to the development of healthy lifestyles to people outside of its organization.

The majority of the results, new activities or initiatives should have occurred within the current calendar year but may have begun earlier.

If your company is riding high on employee engagement and productivity, now is the time to nominate your healthy workplace and be recognized as the as the Wellness Company of the Year!

Nominations are accepted until August 28, 2017 only.

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PhilCare Wellness Index: An Eye-Opener On Filipinos’ Sense Of Wellness

mum's thoughts, tips + tricks, health, health products, health services

It is good to know that more Filipinos are now prioritizing their health and are continuously making conscious efforts to lead healthier lives. As the old saying goes, health indeed is wealth and it is about time we put a premium on our health and wellness in order to live longer, give optimal performance, and ultimately, savor life as much as we can. Whether you are a busy mum struggling to strike a balance between your corporate duties and family obligations, or a stay-at-home mum always aiming to give the best quality time for your children, or a single  woman on the verge of having that family you are dreaming of, it is a must that we put stock on our well-being in order to be effective members of our family unit, our community, and our society.

The mushrooming of many gyms and health spas, Zumba and yoga classes, and the growing popularity of fun runs and other activities geared towards achieving physical strength, as well as the rising popularity of shops and restaurants that offer juices and other healthier food options are great indications that more Filipinos are starting to shift to a healthier way of living. It is also an indication that many Filipinos generally feel good about their health.

PhilCare Wellness Index in a nutshell

Top HMO provider in the Philippines, PhilCare, commissioned Dr. Fernando Paragas, a Filipino professor at the Nanyang Technological University in Singapore, to design, manage, and analyze their survey to come up with the PhilCare Wellness Index. It is a groundbreaking study that aims to measure and uncover the Filipinos’knowledge, attitude and practices when it comes to their health and well-being. The wellness index covered different dimensions, including physical, nutritional, lifestyle, medical, psychological, vice and sexual aspects of the Filipino lives. The wellness index indicated that many Filipinos generally feel good about their health, but the bad news is that we Filipinos may not really be as healthy as we think.

The PhilCare Wellness Index, the first health study of its kind in the Philippines, shows that most Filipinos are in denial about their health and that 54% of the people surveyed think that they are in the pink of health. However, when the respondents gave their actual height and weight, it shows that only 45% of them fit the normal category based on the Asian Body Mass Index range. In the same manner, 44% of the respondents believe that they know what comprises a balanced diet, but, in fact, about 27% of them regularly eat fatty food and 21% of them love eating sugary foods and drinks.

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