The Time to Invest in the Future is Now!
The future is coming at us like a locomotive. Those who wait to react will flounder and fail, while those who invest and adapt now will be in position to thrive, no matter what comes down the pike. In this excellent video, change and innovation expert, Jim Carroll, presents compelling reasons for taking steps now to make your operation leaner and more nimble.
Investments in Lean Six Sigma will enable you to bank the resources and build the internal capacity needed to proactively adapt to the massive changes in healthcare coming your way. A rule of thumb in Total Quality Management states that investments in prevention of mistakes and errors follows the Rule of 1:10:100. One dollar invested in prevention eliminates $10 you will spend to Correct a mistake and $100 if the error leads to Failure. In healthcare, Failure typically costs 1,000, or 10,000 times the cost of prevention.
By making your operations efficient and error free now, you can nearly eliminate the costs of poor quality and repurpose the freed up FTEs into doing things your patients value faster and more effectively. In the process you will improve their satisfaction with your services and shore up your revenue streams to enable investments in technologies and services that keep them coming back. This is the only way to compete and maintain your customer base, because you can be sure the facility or sytem down the road is moving quickly to get out in front of you. Click on the picture of Jim Carroll to the left or here to play this video.
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