EkoCorp automates operations to improve revenue generation
The management of EkoCorp Plc, operators of Eko Eospital, has automated key area of its operations through the launch of a transformation programme to set it on a path of growth.
The decision, the group said, is to enhance its monthly revenue generation by optimising processes, enhancing financial management system, as well as improving patients’ experiences.
Addressing a news conference, the Interim Chief Executive Officer, Chukwuka Monye, said the impact of the programme has increased Eko Hospital’s monthly revenue in the last six months by 13 per cent, surpassing revenue generated during the corresponding period of 2017.
Specifically, he said, the transformation programme was conceived by the board at the beginning the year, to address fundamental operational issues, while it plans to embark on growth agenda in its next phase for stakeholders and investors to enjoy the resulting benefits.
Monye added that the firm has opened discussions on strategic partnership with some key players in the sector for adequate funding that will transform and catalyse improvements in the industry at large.
On investment, the hospital’s Interim Chief Finance Officer, Ayodeji Adewale, said conversations have been initiated with some banks to fund some of its requirements, and some conversations with equity investors.
The focus of the next phase, Adewale said, is to inject funding, invest on equipment and infrastructure, as well as increase business branches across the states, adding that these will create room for more customers and investors.
“We have opened strategic partnership with some key players in the health sector, and we are hoping there will be a turnaround in the revenue of Eko Hospital for increased monthly revenue. Over the last six months, the company has performed better than in 2017, despite been focused on operational improvement.
“Over a decade, we have not talked about dividend, which is not good enough for investors. We have laid foundation for these to start running in terms of revenue generation, cost reduction, and funding. All of these will translate to profitability, which will be investors’ delight; and we hope that in the near future, this will start yielding results.”
The Chief Medical Officer, Dr. Adegbite Ogunmokun, who applauded the initiative, said before now, the 40-year old hospital lacked automation, which hindered their operations, but with the bottlenecks reduced, operations are now boosted.