By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    benefits of using protein powder to build muscles
    Protein Powder for Muscle Mass: Everything You Need to Know
    December 12, 2021
    changes brought on by blockchain in healthcare
    Technology In The Healthcare Industry
    March 28, 2022
    What Does Core Body Temperature Say About Health?
    August 17, 2022
    Latest News
    7 Most Common Healthcare Accreditation Programs: Which Should You Use?
    August 20, 2025
    Hospital Pest Control and the Fight Against Superbugs
    August 20, 2025
    Hygiene Beyond The Clinic: Attention To Overlooked Non-Clinical Spaces
    August 13, 2025
    5 Steps to a Promising Career as a Healthcare Administrator
    August 3, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Media Begin Focus on Next Iteration of ACA
    December 13, 2012
    Washington State Care
    Using Homecare for Positive Change in Healthcare
    August 14, 2017
    Do Electronic Health Records Reduce Malpractice Claims?
    February 2, 2013
    Latest News
    How Social Security Disability Shapes Access to Care and Everyday Health
    August 22, 2025
    How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
    August 22, 2025
    How One Fall Can Lead to a Long Road of Medical Complications
    August 22, 2025
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Sustainable Tips For Financial Management In Medical Practice
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > Sustainable Tips For Financial Management In Medical Practice
BusinessFinanceGlobal HealthcareHealth careHospital AdministrationTechnology

Sustainable Tips For Financial Management In Medical Practice

lauren.laporte
lauren.laporte
Share
6 Min Read
medical
SHARE

  Medical practices have a high capacity to heal. Still, unless they’re keeping up with the latest sustainability practices, they can be harmful both for the environment and human health. Needless to say, it can be quite damaging to their reputation and bottom line. Sustainability is no longer optional – it has become a top priority. If you’re thinking about transitioning to greener practices, here are a few tips that you may find useful.

Contents
  • Make environmentally friendly purchases
  • Ditch the use of paper
  • Proper waste disposal
  • Prevent the misuse of red bag waste
  • Alternative energy resources
  • Have a green team

Make environmentally friendly purchases

There are many ways medical facilities can be sustainable and, at the same time, manage their finances better. When it comes to managing purchases, the first things to consider are reduced packaging and reusability. Environmentally friendly purchasing is when facilities are opting for products and services that pose less danger to the environment and human health. Environmentally friendly products are less toxic, minimally polluting, packed in less packaging materials, easier to recycle, and more energy-efficient. Understanding the complete life-cycle of the product – how the products are made, what the health risks related to their production are, and if they can be reused or recycled is the first step towards sustainable practices. Facilities can try to be mindful of their consumption habits, and reduce the number of medical/office supplies they use. Wherever it is possible, they should opt for buying reusable products instead of disposable ones. When reusability is not an option, they should consider recycling, and they can advance their disposal practices. There are many other ways facilities can purchase smartly. For example, they can buy more energy-efficient imagining machines, choose to use green cleaners, or make their meals with locally grown food.

Ditch the use of paper

Paperless practices are another way of making your medical business more environmentally friendly and financially sustainable. They include less waste, lower costs, and a greener environmental footprint. Even though we have all the technology and tools we need to make a smooth transition, our reality is filled with thick paper files, intake forms, clinical notes, test requisitions, referrals, and much more. This mountain of paper that we’re dealing with on an everyday basis can easily be replaced by implementing certain digital practices. For example, emailing registration packages to your clients, before their first appointment, eliminates the need for hard copies of intake forms. There are many affordable electronic medical recording systems that you can use, both improving the efficiency of your practice and making it more sustainable. Switching to reliable employee income cards can also be a significant step towards sustainability and cost reduction. As processing and distributing paper paychecks comes at a certain cost, payroll cards are cheaper to administer. Furthermore, employee income cards allow staff quick access to their funds, and they’ll pay no more cash checking fees.

Proper waste disposal

Every day, medical facilities contribute to the billions of pounds of medical, hazardous, sharps of drug waste that can be harmful to the environment, and cause many negative health issues. By developing a program that grants that all waste is properly collected, segregated, treated, and disposed of, you can be confident your medical practice won’t harm the surroundings and pose health concerns. You need to install a comprehensive medical waste disposal program, with transparent processes for addressing various waste streams, that your staff will follow. Except for keeping your environment safe, you’ll avoid paying fines or other financial repercussions that can harm both your reputation and your balance sheet.

More Read

Healthcare Innovations Keep Seniors Safer at Home
What is ePrescribing?
Botox Approved for Overactive Bladder Treatment
Is Facebook the Next Big Thing in Healthcare?
Peter Diamond for Chief Economic Adviser

Prevent the misuse of red bag waste

Red bags are typically used for medical waste, which is incarnated on- or off-site. One of the greatest challenges is making sure that waste is segregated appropriately. Only truly infectious waste should be deposited in the red bags so that the rest can be recycled properly. The process of incineration creates pollution, with the two most harmful pollutants being dioxin and mercury.

Alternative energy resources

You can also significantly reduce your costs and make your medical practice more sustainable by opting for alternative energy resources or try to cut down energy consumption. From implementing smart lighting strategies to transition to renewable energy sources such as wind or solar power, to green building construction and retrofits ? all these energy conservation efforts can lead to a 20 to 30 percent decrease in your annual bills.

Have a green team

However, establishing green practices in your medical practices requires efforts from everyone. You need to develop a corporate culture where each one of your team members will embrace the change and put their hearts into new commitments. Choose the employees who are the most dedicated to implementing green practices and educate them on the environmental impacts of each one of their actions. You can conduct a waste audit together, and see which areas need improvement. Then you can work with the rest of the employees on developing a more sustainable strategy. By following the tips above, you can make your medical practice more environmentally-friendly, and still in a cost-efficient way.

TAGGED:financial managementhealthcare financemedical practicemedical practice managementsustainable medical practice
Share This Article
Facebook Copy Link Print
Share
By lauren.laporte
Follow:
Lauren Laporte is a Sydney-based content writer with a passion for healthful, mindful and plant-based living. She believes the human body is hardwired to heal on its own so you're better off learning how to listen to its cues! She's nuts about all kinds of animals(the weirder the better), nature and food. Her blog is dedicated to teaching people how to follow their gut, live from the heart and understand that, in the end, true well-being is inevitably an inside job.

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

travel nurse in north carolina
Balancing Speed and Scope: Choosing the Nursing Degree That Fits Your Goals
Nursing
September 1, 2025
intimacy
How to Keep Intimacy Comfortable as You Age
Relationship and Lifestyle Senior Care
September 1, 2025
engineer fitting prosthetic arm
How Social Security Disability Shapes Access to Care and Everyday Health
Health care
August 20, 2025
a woman explaining the document
How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
Public Health
August 20, 2025

You Might also Like

Medical EducationNewsTechnology

How Precision Medicine And Big Data Will Be The Future Of Healthcare

January 6, 2020
healthcare insurance industry customer service
BusinessNews

Health Insurance Industry Has Worst Customer Service – Survey Says

February 24, 2012

Think of It as a Minute Clinic on Wheels

May 11, 2011
Image
BusinesseHealthMedical DevicesMedical InnovationsTechnology

Your Health is What You Drive: Digital Health in the Driver’s Seat

November 13, 2012
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?