With inflation and rising cost of materials, it’s critical for healthcare companies to keep construction projects as close to plan – on schedule and on budget – as possible. Here are 4 ways to help verify your construction billing and keep your project on budget.
Reduce overbilling and cash outflow
Automated construction progress tracking provides an objective view into exactly where the project stands, which can help mitigate contractors overbilling for a higher percentage of completion. Companies that use a single source of truth for progress tracking (like Doxel) can reduce monthly bills by up to 10%.
With money still left on the table, contractors will be more motivated to finish the job so they can get paid.
Gain better visibility into change orders
Change orders are inevitable—but transparency around them should be, too. Before a major healthcare provider started working with Doxel, they estimated 4% of their total spend was caused by inaccurate progress tracking. These additional COs are passed onto the healthcare company, and are avoidable with the right solution in place.
Leveraging AI-powered progress tracking takes the mystery out of CO estimates. While using Doxel, one healthcare company found their typical change order estimates were inflated by at least 10%. That money is going out the door, and eventually it will add up. With more accurate project tracking, companies can more accurately pinpoint where change orders should be and reduce unnecessary spend.
Make the most of HealthTrust materials
Due to the unpredictability of material requirements, HealthTrust Contracts run the risk of being underutilized, and healthcare companies miss out on potential rebates and discounts offered. Doxel helps drive 100% contract utilization with more accurate, objective, and standardized measurement of materials installed across projects—which in turn allows more materials purchased through HealthTrust and greater financial savings.
For one Doxel healthcare customer, that meant the ability to purchase 10% more through HealthTrust, and the savings added up to a whopping $18.56M annually through discounts and rebates on materials.
Save contractor time and improve productivity
Time is money. When a project’s progress is manually tracked, the process itself to collect and report on the data takes valuable time away from contractors and field teams. What used to take 60+ hours of manpower a week to manually assess progress now takes a mere 3 hours per week using an automated solution like Doxel. All that time can now be focused on safety, quality control, and coordination of trade partners.
See why healthcare companies (and contractors) choose Doxel
Doxel’s image recognition gives healthcare facilities objective progress data and real-time insight into materials installed. With automated project tracking, everyone wins—contractors spend less time counting and reporting, and healthcare companies have better control over project costs and governance.
Healthcare facilities using Doxel are delivered earlier with increased safety, less expense, and higher quality. To learn more about how they do it, schedule a demo today.