In-house Cheques Printing
Care Process & Redesign
Singapore Healthcare Management Congress
SingHealth
31 December 2024
Explore alternatives to sustain or reduce operation costs on payment by cheque. In-house cheque printing streamlined processes, reduced costs, and improved financial efficiency across SingHealth institutions.
Year Submitted: 2024
Published Date: 31 December 2024
Tags: Care Process ＆ Redesign, Quality Improvement, Workflow Redesign, Operational Management, Financial Management, Productivity, Cost Saving
About this Content
Aims
Explore alternatives to sustain or reduce operation costs on payment by cheque.
Background
Changing corporate banks led to increased bank and ancillary charges, requiring a more cost-efficient approach.
Methods
Conducted feasibility study comparing manual cheques, cashier's orders, and in-house cheque printing. Implemented SAP in-house cheque printing program.
Results
Achieved $15,366 annual savings; recovered one-time setup costs within 6 months for 8 institutions; increased bank interest earnings.
Conclusion
In-house cheque printing streamlined processes, reduced costs, and improved financial efficiency across SingHealth institutions.
Lessons Learnt
Collaborative investment in central processes ensures widespread benefits and reduces operational costs.
Additional Information
Singapore Healthcare Management 2018 – Highlighted Initiative for Cost Reduction and Process Efficiency.
Keywords
Process Improvement, Cost Savings, SAP Automation, Cheque Printing.
Innovators' Details
Innovators' Details
Healthcare Cluster(s) | SingHealth |
Organization(s) Involved | Singapore Health Services |
Platform(s) | Singapore Healthcare Management Congress |
Healthcare Professional Group(s) | Healthcare Administration |
Applicable Specialty or Discipline | Healthcare Administrators |
Project Lead(s) | Koh Li Li |
Project Member(s) | Lim Siew Ean |
Connect with this contributor!
Koh Li Li - lili.koh@1fss.com.sg