Effective budgeting and management by all means more money for patient needs

$650,000 more now available for equipment!

By John Aldis,
Vice-President,
Corporate Services
and Chief Financial Officer

Efficiency is contagious.

Our directors and managers, and their teams, have kept the Capital Equipment Planning Committee updated as to the status of medical and related equipment needs and purchases from our approved capital list. Regular monitoring and management of our capital list of approved equipment needs allows us to maximize investment of our limited resources for our patients and communities.

Aligning personal business commitments, the strategic plan, our Lean philosophy and a concentrated focus on efficiency from all departments – including finance, of course – is paying off for the patients of our hospital. This focus has spread at all levels of our management structure and among our staff teams.

Now, let me skip to the good news: The Capital Equipment Planning Committee (CEPC) recently reallocated approximately $650,000 of “freed up” capital funds to additional items our hospital needs for patients.

Fiscal responsibility, one of our four strategic dimensions – is not simply a function of our finance department. Indeed, the better we all are at fiscal responsibility, the better positioned we are to improve in our three other strategic dimensions: service excellence; access to care; and team engagement.

There are many reasons for this recent positive development, but it all stems from the fact that our professionals at Rouge Valley Health System are becoming more efficient and better stewards of tax dollars for patient care.

The $650,000 is available because:
• Approved capital expenditures from 2008/09 and 2009/10 were completed under budget;
• A number of items were deemed to be no longer necessary;
• Through closer collaboration between the RVHS Foundation and CEPC, some items on our capital list have been funded through the foundation’s efforts to direct donor giving to specific items

- So who is CEPC and what are the results? -

The group is comprised of managers, directors and vice-presidents representing our program and service areas at both hospital campuses.

The CEPC has been a very productive and cohesive team, reallocating funds mid-year using a criteria based framework. In fact, there was unanimous agreement by the team on where to reallocate the funds to address key needs, such as buying new:
• Dedicated equipment, such as vital signs monitors, in isolation rooms;
• Portable vital sign monitor in the children’s program;
• A defibrillator in the surgical program;
• Medication carts;
• Two ventilators;
• A chemistry analyzer;
• And more.

I’d like to thank the members of our Capital Equipment Planning Committee, our finance team and all our hospital staff for their engagement in this and other corporate initiatives.

Optimizing our limited resources throughout our hospital supports better patient care everyday. This efficiency bug is one contagion we want to continue spreading.