Impact of Cost Reduction Strategies on Service Quality of a Single Cataract Surgery in a Specialty Hospital
Keywords:
Service quality, Cost reduction strategies, Healthcare industry, CostAbstract
Cost is a fiscal assessment of utilities, goods, time, performance, risks incurred, resources and opportunities relinquished in production and delivery of goods or services. Cost reduction is the process used by any organization to reduce costs & increase profits. Cost reduction strategies can reduce operations cost while increasing productivity, allowing strategic reallocation of resources. Ever increasing cost of healthcare delivery makes it unaffordable to those at the bottom level. Therefore researcher made an attempt to identify the impact of cost reduction strategies on service quality of a cataract surgery in a specialty hospital and its branches. The objective of this study is to evaluate and measure patient & employees view on impact of price reduction strategies with respect to service quality. Service quality dimensions included in this study are reliability, assurance, tangibility empathy and responsiveness. Research Design considered to be used for this study is a Descriptive type. Employees (paramedics & administrators) and patients are chosen as sample. Tools such as anova, weighted average, chi-Square, regression were used. The major finding of the study was that the cost reduction strategies have no impact on patient flow of performance outcome but have an impact on service quality. If at all a patient opts for another hospital for treatment that may be due to service quality and not because of price of treatment.
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