It is infallible to invest in quality management in hospitals.
This dilemma accompanied me for a long time, until I found the correct answer. There are investments in quality that have a return and others that do not have a return, as with any investment in management.
In general, we have to consider the following explanatory curve:
We have a curve that expresses evolution without quality, which is a cost that decreases when the level of quality is increased (green curve).
We have another curve that expresses the evolution of greater expenditure of money to develop an increase in quality and we have the total cost which is the sum of the two concepts.
How are asymptotic curves ( the a line in which the distance between a point P on the curve and the line approaches zero, as the distance from point “P” to the origin increases indefinitely) and the vast majority of hospitals are to the left of the dot line, or break-even point, we have the advantage that the cost of non-quality drops more sharply than the cost of producing quality. Which gives a difference in favor of the economy of improving quality.
Only when we exceed the equilibrium level does the cost of producing quality have a negative differential and the total cost increases. But these hospitals are organizations of excellence that make quality a business purpose and can earn more for it.
So yes! With appropriate quality actions, the vast majority of hospitals can increase their profits by investing in quality.
It is no coincidence that the most profitable institutions in the USA make quality a main objective in their daily lives.
“Quality that brings efficiency” (Victor Basso)
