Tag: <span>cost-saving</span>

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Has anyone noticed this lately? Your favorite brands are getting smaller yet the pricing remains the same.

Consumers are really starting to pay attention to “product shrink.” I first noticed it in my yogurt cup but thought oh well its less calories any way but lately I’m seeing a lot of different products shrinking yet the prices remain the same and in some cases shrinking product contents combined with increasing prices.

This isn’t the first time this has happened. If any of you have old cookbooks you will notice that the recommend amount of some of the products has changed. Especially when you are baking and you need one and a piece of something to complete the recipe. A cup of something is still however a cup so standard weights and measurements still apply.

We saw the shrinking of the detergent bottle (Ultra detergents) a while back along with the supposed claim of saving the environment with less packaging. The detergent is concentrated requiring less packaging material to make the bottle and less cost to ship it too. The real truth is however that it was a win for CPG companies and the packaging manufacturers not the consumer. You are actually paying more per wash with the new detergents rather than less. It looks good for the environmental packaging spin too.

But enough sour grapes on something that has become common place, packages are now shrinking to keep up with the cost of inflation. The price of raw materials is skyrocketing and companies are looking for ways to offset the increasing costs. One of the simplest ways is to reduce the amount of product inside while keeping the price the same hoping that consumers won’t notice.

Sorry, but we now have an educated customer that’s reading labels and taking notes. Not only are the reading them but they are comparing like products. Branded merchandise was already losing ground to private label products, now even more so with the down turn in the economy. If your product shrinks and the consumer isn’t happy they WILL look for alternative especially if they are less expensive.

There are however other cost saving options as it relates to packaging. Some companies are doing what’s called “light-weighting”. That is reducing the amount of packaging material that’s used. I’m sure you seen how the thickness of your water bottles has decreased or how you can now squeeze your beer or soda can with one hand. That’s because the manufacturers have figured out a way to take out packaging material while still keeping the structural integrity of the package. Packaging technology has new and improved materials that makes this possible. Its important to note however, that there is a fine line between reducing material costs and the failure of the package. If it doesn’t get to the consumer in good condition then its a disaster.

Another way of reducing packaging costs is to re-configure the package to be more cost effective. That is to design a product in such a manner that it takes up less space on the store shelf or maximizes palletization and shipping or transportation by being a better shipping unit. A good example is the square milk bottle introduce by Wal-Mart where not only can the get more on the shelf a square bottle vs a round bottle but it also is more cost efficient shipping. This bottle redesign is a win for Wal-Mart considering the vast amount of money saved in making this change. A note of caution when contemplating a radical redesign of a common place item the jury is till out on consumer acceptance of the square milk bottle. Ever tried to pour one?

Considering consumer awareness of the incredible shrinking package a smart marketing person would be looking for ways to provide more value not less. Redesign, light-weighting or just simply keeping the product amount the same are all options in winning the hearts and minds in today’s consumer brand loyalty isn’t what it used to be and once they are gone they might never come back.

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Source by JoAnn Hines

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QuickBooks is the new-generation coveted accounting software that helps users with better financial management and more effortless accounting operations. QuickBooks; developed by Intuit, comes in a lot of different versions such as Pro, Premier, and Enterprise. You can choose what fits best for you depending on the genre, budget, and size of your business.

An even more effective and yielding version of this is QuickBooks on the cloud or QuickBooks hosting as it’s popularly known. Cloud hosting and cloud technology on a whole has expanded its horizons that in ways that were earlier unimaginable. Why should you be left behind when you readily have available a solution that starts delivering futuristic benefits.

In no way shape or form do I mean to say that QuickBooks desktop isn’t a good enough software by itself, but In the case of CPAs and accountants, the remote accessibility that QuickBooks cloud hosting provides is something that’s beyond just good. It the best. And when you can get the creme de la creme why just settle for a loaf of bread?

In addition to making the entire accounting process quick, accurate, and relatively effortless, QB on the cloud also helps with cutting costs. So it is a win-win situation in both the fronts, you can manage your expenses, make more profit by putting in lesser efforts. Now that is an offer I am sure everyone would be lured for.

The expense saving factor of QuickBooks hosting

Migrating to QuickBooks on the cloud eliminates the need for physical documentation to a great deal thus saving a lot of your cost on paper and printing equipment as well as making it a pro-environment move.

Now if you use QuickBooks you would already know that the UI and functionality of this software are so easy that you needn’t be an expert accountant to figure your way around it This easy navigation eliminated the need to hire an expert accountant pr an extra employee for the smaller bookkeeping tasks, the initial tasks, you can handle it by yourself when using QuickBooks.

All this while we’ve been talking about QB on the cloud, and the biggest contribution that this gives is that helps you save a large chunk of upfront investment on setting up a physical infrastructure for managing the software setup as it is something that is taken care of by the cloud hosting provider you choose.

The effort-saving factor of QuickBooks hosting

Switching to QuickBooks hosting is the right option if you are searching for a way to reduce the manual workload involved in accounting operations. Using QuickBooks on the cloud lets you automate the majority of your accounting operations thus saving time and effort that would have been otherwise put in to manually calculate transactions and entering data. Data entry and account management with QuickBooks becomes a quick and error-free process.

QuickBooks cloud hosting allows multiple users to access the same data set at once that encourages and promotes collaborative working. This, in turn, results in more productivity in lesser amount of time and since multiple people can collaborate simultaneously on one project, it also helps in reducing the workload on each individual.

As mentioned earlier that all the IT hassles related to the software or procedural errors are taken care of by the hosting provider, an accountant no longer has to pick his/her brain on solving issues related to IT and working of the software; all of this is looked after by the support team of the cloud hosting provider. The hosting provider has a dedicated team of trained professionals to take matters into their hands at the earliest and shortest notice. Your co-workers or firm partners needn’t trouble themselves with IT hassles.

A word of thought

QuickBooks hosting and cloud hosting, in general, have a number of positive effects and outcomes; cost and time effectiveness just bein a few amongst many. Switching to the cloud might be a change or a leap of faith for many, but take my word for it. You’re going to enjoy the ride!

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Source by Tina S Smith

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The largest potential cost savings in your office is sitting on your desk just waiting to be added to your bottom line, not the phone company’s. A careful telephone bill audit could save you thousands of dollars every year… and doesn’t have to cost you an extra penny.

So how do you go about securing this money saving evaluation now?

First of all, time is of the essence. It’s possible that you’ll only be able to recover over-payments for 12 months even though you have been over paying those charges for years. That’s unfortunate, but regardless, in today’s economic climate all savings are valuable.

Still, you may find yourself thinking “I don’t have time to audit phone records! Nor do I know how!” Rest assured, you’re not alone. After all, who really has time to embark on an audit in this market? You’ve got calls to make, ever changing guidelines to keep up with, and clients to help.

That’s where professional telecommunications consultants can help. They will employ the following techniques and more, with no up-front cost to you at all. You’re probably wondering where the catch is? Why would a company audit your phone records for free? Because, they will ultimately share a percentage of the savings they are able to find for you. That means, the more they find… the more you save!

Here are just a few tips you can use to put thousands back in your in your budget, not into your phone bill.

� Knowing Your Phone Bill Leads To Quick Refunds And Credits.

Check every line item on your bill. Make sure you know what the charge is for and that it matches the terms on your contract. (You have read your contract haven’t you?) Mistakes happen. Furthermore, confirm that all services are actually working at your location. Look for voice mail that has never been turned on or lines never connected. This can result in a quick refund or credit to your account.

� Have You Moved Recently Or Changed Service Providers?

Check your bill. Did you forget to disconnect your old lines or services? The phone company may not do it for you, even if they put your new lines in. It’s a common mistake.

� Are You Being Double Billed For Services?

Carefully review all of your bills to ensure there are no duplicate charges for long distance calls or other services. Comparing multiple bills side by side will help you to pick out any anomalies.

� Check Your Taxes

Are you outside city limits but continue to be billed city tax? This happens more often than you’d think. Are you being billed correctly for all taxes and fees? Ask your provider. Hint, the number of taxes should emulate the number of analog lines. For example, FAC charges should be the same as the number of lines unless you have a T1.

� Check For Late Fees.

Are you paying on time but still charged a fee? Check your due date.

But what can you do if you find discrepancies in your phone bill? Keep the following in mind:

� Don’t Be Afraid To Question Service Charges

If it is difficult for the phone company to determine who ordered a questionable service, they are more likely to give a refund. Don’t be afraid to ask, “Who ordered this service and on what date? Can you fax me the contract?” If they can’t produce a contract there likely isn’t one.

� Be Confident When Requesting a Refund.

If you are confident and clearly state that you expect savings in the form of a refund or credit, more often than not you will receive one. Never accept a “No” from a person that does not have authority to say “Yes”. Ask for their superior. Keep in mind that even if you are 100% at fault for an expensive mistake, you should still ask for a credit. You may get one.

The next step in making sure that you’re not wasting your hard earned money on services you don’t need is to determining your true service needs. Consider the following:

� How Many Phone Lines / Trunks Do You Really Need?

A quick indicator is that long distance only shows up on a few lines. But, only a traffic study performed by your provider will provide you with the real answer. You may be able to save thousands of dollars just by reducing the number of lines you currently have.

� Ask If Your Phone Company Offers A “Utility” Line?

These lines, which are typically used for faxes, modems, alarms and elevators, don’t provide a lot of features, but they are generally half of the price of a regular line.

� What Are Your Data Needs?

Ask your provider for a traffic study. If you have a data T1, consider switching to higher bandwidth DSL or Ethernet and save up to 75%. Typically these have a great history of reliability. If reliability is paramount, combine DSL circuits from 2 different providers or cable company for double the bandwidth and reliability.

If you’re apprehensive about making a change in your phone service, because you’re locked into a contract, consider that even with an early termination charge, you may still be able to reduce costs even further. Keep the following tips in mind when dealing with your provider.

� Knowledge Is Power.

Armed with the knowledge of your true requirements for dialtone and data, your provider will take you more seriously when you tell them you are shopping.

� Make Sure You Understand Your Contract:

Do not be surprised if your provider tells you, “I’m sorry but you have 12 months left on your contract with an early termination charge of $7,200.” Be familiar with your contract and verify how they arrived at their numbers. How much service can you disconnect without incurring any charge? Be sure to stress that you are trying to work with them but that the market is forcing you to explore options.

� Explain Your Changing Office Dynamics.

If your office has half the staff it had a year ago, and you have a full T1 of voice (24 channels), see if they will allow you to re-contract for 12 or less trunks. This can save you as much as 50%. Ask if this is the best deal they can offer.

Finally, when you’ve reviewed your bills, determined your true needs, and secured all refunds and credits, you may be ready for new services. Before you sign up for any new service, weigh the following options carefully.

� Check Your Options.

New services may be available in your area at a lower cost.

� Find A Consultant Whose Fees Are Based On Actual Savings.

In many cases the very best value services are not sold simply because they pay a very small commission for the same amount of work for the service provider’s agent. But telecommunications consultants will be aware of these little known programs, and can secure additional savings for you. Those who save you the most, stand to earn the most, which is why they’ll work hard to get you the best deal available.

� Be Selective In Choosing A Consultant.

Ask for references and don’t pay a penny until the promised savings are verified in writing and match the rates on your new bill. This may take a few months but most reputable consultants will agree to it.

This may sound like a lot of work, but you don’t have to do it alone. A professional telecommunications consulting and brokerage company can save you the time and headache of doing this on your own, all the while keeping your money where it belongs… in your pocket.

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Source by Nathan D Watkins

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The use and installation of cable trays is compared with most systems for managing the wires effectively and no doubt the tray have won the race so many times. The wiring system has significantly numerous benefits over the conduit systems and raceways, which makes it first choice for every complex system. It is cost effective and reliable to maintain the wires and cables throughout their life. In addition to this, the convenient design has contributed to the potential safety advantages in contrast of various other systems.

What Are The Significant Benefits Of Installing Cable Trays For Your Industry?

• Installation Cost Savings: The product design and engineering is considered to reduce the installation labor cost and drive better results through examining all the aspects well. This eliminates the need for spray paint, tape in the field or powder coating to deliver the cost saving benefits to different number of applications
• Ease Of Maintenance: After installation, most users are concentrated on the maintenance of the installation. It is also easy to maintain the new cables or exit the unused ones with the visual inspection of the wires. This saves the time and also saves the cost spent on labor. Another comparative benefit of installing the trays is they are less susceptible to the fire loss.
• Flexibility Features: If you are planning to change the wire managing system or simply looking for the reliable system, give the trays a try-and you will surely love the system for its flexibility and ease of usage. You are no more limited to check for the space while adding the wires and also you can add more trays easily without spending a lot on the system.
• Safety Benefits: As the conduit system is a closed system, there are chances of excessive heat buildup, which evolve harmful gases causing failure or damage to the wires stored inside. This is why users prefer the open structure none other than cable trays. The open structure avoids the buildup of heat and let the wires breathe easily inside the system. This prevents catastrophic events, lessens the chances of fires, and sparks.
• Adaptability: Another advantage of installing the system is its reliability and ease of adapting with all types of environmental conditions. This results in less down time and more productivity, which adds in introducing innovative technologies and new processes. Installing and adding new trays is also easy as you are using the most flexible wiring system ever. It is useful to consider future expansion, redesigning the structure, and new technologies without disrupting the system as well as spending much on the entire system.

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Source by Nitin Pratap Singh

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About 100 years ago, when our great-grand parents were alive, there were no modern conveniences. Back then, homes were “winterized” before the cold weather, and “summerized” in preparation for the hot weather. During the winter, heavy draperies were hung on the windows, carpets were laid down on the floors, plush upholstery was uncovered on the furniture, and layers of warm wool linens were added to the bedding. And, hot food and warm beverages were available when you came in from the cold.

In the summer, windows were opened to take advantage of the breeze, light weight curtains hung on the windows to catch that breeze, carpets were rolled up for storage and light cotton slip covers applied to the furniture. Cooking was done in the ‘summer kitchen’, and sleeping was easier on a ‘sleeping porch’. And, cold drinks were served on the front porch where people socialized with their neighbors and caught up on the local gossip.

Those old fashioned ways of coping with the extremes of weather were mostly ‘free’ and most of them are still practical in today’s modern world.

Practice one of the following no-cost energy saving tips today, add one tomorrow, and so on… and so on… and so on. Soon you will be saving a substantial amount of money that you can spend on other things, like home improvements!

Everyday No-Cost Energy Saving Tips

• If you have an old refrigerator or freezer in the garage, get rid of it, it is costing you about $10 per month.
• Use the microwave instead of the oven. A microwave costs about $.03 per 10 minute use, an electric oven costs about $.28 per hour.
• Use your dishwasher only when it is full, and don’t use the drying cycle.
• Do your laundry efficiently, only when you have a full load. Line dry whenever possible, it costs nothing. An electric clothes dryer costs about $.42 per load. And, front loading washing machines use 25% less energy then top loading models.
• Turn off lights, appliances, electronic equipment and fans whenever you leave the room for more than a few minutes.
• Take advantage of natural light and task lighting whenever possible.
• Arrange furniture away from exterior walls so that you are not eating or relaxing next to a hot or cold draft.
• Shut your fireplace damper when not in use, don’t let your conditioned air go up the chimney.
• Keep refrigerator door closed whenever possible. A 22 c.f. refrigerator costs about $.70 per day while a 16 c.f. refrigerator costs about $.45 per day to operate.
• Take short showers and wash clothing in cold water whenever possible. A 52-gallon, quick recovery water heater costs about $2.00 per day to operate, the less hot water you use, the smaller the cost.

Hot Weather No-Cost Energy Saving Tips

• Keep the cool early morning air inside your home by shutting your house up. Close all of the doors and windows, and close the window coverings before the sun hits the windows.
• Use ceiling fans or portable fans in whatever room you are in. A ceiling fan only costs about $.02 per hour to operate.
• Turn your air conditioner thermostat up at least five degrees, more if you are not going to be home. For every degree you raise your thermostat, you’ll lower your cooling costs by 3%.
• Move outside, take advantage of the breezes and shade.
• Change the filters for your air conditioner.
• Serve cold meals and beverages; salads, sandwiches, antipasto, cheese and fruit.
• Dress in light weight, natural fabrics that hang away from the body.
• Decorate with cool colors; blues, greens, whites, and light neutrals.

Cold Weather No-Cost Energy Saving Tips

• Dress in warm layers of clothing.
• Add warm layers of linen to your bed, an electric blanket costs only about $.12 per night to operate.
• Eat warm comfort food and drink hot beverages. A coffee maker only costs about $.04 per use.
• Take advantage of the sun’s heat, leave your blinds and draperies open on the southern and eastern sides of your home, close these window coverings when the sun goes down.
• Turn your thermostat down at least five degrees, and when you are gone from your home or at night turn your thermostat down even more. A central heat pump for an average size home costs about $.65 per hour to operate.
• Decorate with warm colors; golds, reds, oranges, browns, and darker neutrals. Add warm and fuzzy accessories to your living areas; soft pillows, warm throws or afghans.

Today, we have a few modern conveniences that our great-grandparents didn’t have, so we use lots more energy. If you incorporate these no-cost energy saving tips into your lifestyle, you will save money, reduce your energy consumption and enrich your life style.

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Source by Lynn Albro

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I always thought about starting a college fund. I even set up a small savings account when they were born. Now they are in high school, time is running out and I am starting to panic. What can I do? Where should I start? Are they going to hate me? I really wish I had started earlier.

Get Started: As their guidance counselors, teachers and friends are helping them evaluate their strengths and weaknesses in an effort to narrow down their career options, you need to take action now if they are going to make it to college. Here is how to begin.

Relax: Your first step is to take a deep breath and realize that you are starting late. You can’t change the past, but you can take positive action to change the future. The fact that you are reading this article tells me that you are ready to make an effort to help your children as much as possible. It will take some time and effort on your part, but you WILL make progress one step at a time.

Follow These Steps: The following steps will get you started on a nice structured path. You will start a journey that will take you from where you are now, through to the college graduation of your youngest child. It will not be easy or without some sacrifices, but if you do it right, it will be fun and your children will appreciate your efforts.

Step 1 – Family Net Worth: Prepare a current Net Worth Statement so you can see where you stand right now. This is a financial snap shot that will show your assets and liabilities as of today. (You can find a free one-page net worth statement on our site listed at the end of this article – forms section – or by searching the internet.) Once you know where you are today, every positive step you take will improve your net worth and help your efforts to send your children to college.

Step 2 – Maximize Income: Now that your children are all in school, consider maximizing your earning and saving potential. If one spouse was the primary care giver for the children, maybe they were working part-time or not working outside the house. Consider having both spouses work full-time to add extra income into the family budget. These increased earnings can be directed specifically into college savings, but make sure you put them in the right type of accounts.

Step 3 – Talk To Your Kids: Discuss college and financial aid with your children now. Review the costs associated with community colleges, state universities and private colleges. Let them know that you may be late to the game, but you are trying to help them as much as you possibly can. Depending on your family size, income and assets, you can get an estimate of your expected family contributions by using one of the online EFC calculators. Once you and your children are aware of these estimates, you can begin looking into your best college alternatives.

Step 4 – Let Them Help: Finally, encourage and help your children to become more “Financial Aid Worthy” students. By doing the right things while they are in high school and positioning your assets properly, you can help them by qualifying for more financial aid and learning how to further reduce college costs.

Keep Moving Forward: The most important point to remember is that even small steps will help, so if hitting a college financial “Home Run” isn’t possible, a solid single or even a bunt will help your cause. Every little bit helps and if you keep moving forward in your efforts to narrow the college funding gap, your children will see your efforts and be that much better off.

In Summary: Don’t beat yourself up. You are in the same boat as plenty of other American families. Your kids won’t hate you, but taking the first steps now will help substantially. Talk with your children and give them realistic expectations about what you can and can’t do to help. Remember – Where there is a will… there is a way.

With the many options for college, students need to evaluate their own situation and decide which path is right for them. It will be easier if they know all the relevant details. They might surprise you, so encourage them and help them to make good decisions.

To discover very specific ways to maximize your financial aid and reduce college costs, I have prepared a FREE College Cost Savings Kit which you can download by Clicking Here.

Please consider printing this article and sharing it with a friend. Many parents are in the same situation as you are. By paying it forward, you could help them save a lot of headaches and plenty of money too.

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Source by Keith Maderer

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Medical transportation is not only limited to ambulettes and medivans. In many instances, ambulances are also used to meet the growing non-emergency transportation (NEMT) needs.

Ambulances, typically thought of only in regards to emergency transportation, are often enlisted to provide non-emergency transports in areas where there is a lack of adequate medivan services or areas where there is a failure in understanding of the convenience and cost-savings abilities of using ambulettes.

Unfortunately, many staff, facilities, and organizations fail to understand the versatility and cost saving opportunities that exist in using ambulettes versus using an ambulance. Typically, a NEMT being performed by an ambulette is, on average, 70 – 90 percent cheaper and more cost effective as compared to an ambulance performing the same transport of equal distance and dynamics.

The cause for this gross disparity in cost can be attributed to the simple overhead economics. The cost of vehicle, insurance, training, and equipment for an ambulance is considerably more as compared to that of an ambulette. Further an ambulance is always staffed by multiple certified EMT’s; further driving up labor and training costs. Conversely, an ambulette can be staffed by a single licensed driver trained only in state and local mandated transportation requirements. But again, this is only feasible for NEMT exclusively.

In states, counties, facilities, and areas where more and more ambulettes are being called upon to meet the non-emergency transportation needs of the growing elderly and disabled, there is a greater reduction in financial costs to insurance companies, Medicaid and Social Services, brokers, hospitals, non for profit organizations, and the like. At a time when budgetary concerns are being critically tested, such savings in using more ambulettes for non-emergency transportation needs is not only sensible and practical, but it’s critical. Rather than reimbursing an ambulance service thousands of dollars for a single non-emergency transport, the cost to private-paying clients and facilities alike for a comparable transport can literally be reduced to a hundred or so dollars!

Needless to say, as we move forward with ever growing medical and transportation needs, coupled with changes in health care practice and policies, the need for practical and cost effective non-emergency transportation solutions will become more apparent. The need for safe and adequate services will increase with a continued attention on overall cost of delivery of such services, hence, the growing opportunity of non-emergency transportation services.

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Source by Joel E Davis

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You’ve likely heard the term “going green” and why it’s good for the environment. But what about the dollars and cents aspect? There are any number of reasons why building and business owners should invest in energy-efficient upgrades in their multi-family properties.

First, bear in mind how much LESS efficient older structures and related appliances and systems are compared to newer ones. Let’s take the example of a Heating, Venting and Air Conditioning System (HVAC) system on but one of your properties. Older buildings often have older HVAC systems with Seasonal Energy Efficiency Ratio (SEER) ratings of only 6-11. Conversely, a new building, or one with an upgraded HVAC system, has a SEER rating of 15-20 – or more. And energy savings = cost savings.

* As an advertising tool. Being seen as a developer interested in “going green” will reap dividends as you’ll be seen as being environmentally friendly – promoting the environment while lowering energy bills for renters at the same time! This will make your properties more desirable, especially for the younger set.

The caveat here is practicing what you preach. Green marketing won’t work unless your organization is committed to protecting the environment. The last thing you want is a connect between what your brand says and what you actually do. If you follow the other bullet points in this article, you’ll be well on your way!

* Differentiating yourself from your competitors. Because going green costs more at first, you can be rest assured that not every business developer will be willing to make a green commitment. But doing so will pay off in the long run. Appraised value of your property, for instance, can be expected to double by installing SMART technology that improves energy efficiency. Going green makes a lot of “cents”.

* Increasing the bottom line of your properties. Homeowners know that remodeling – such as new siding, roof, etc. – will increase the value of their home. It’s like that with developers, too! As noted earlier, energy-efficient upgrades can easily mean add double the cost of the upgrade to the value of your property.

* Saving renters’ money. Installing energy-efficient HVAC systems, lights, water heaters, etc. on your premises will save renters in monthly expenses. A residence with energy-efficient upgrades can realize a 30 percent savings – or roughly $100 to $150 – in a single month. Renters can save a lot of money pretty quickly!

* Extending the life of different systems (lights, water, AC) with smart thinking technology to operate more efficiently. Efficient appliances not only cost less to run, but they also last longer. Consider the example of a simple LED light bulb. A typical LED light will last 1,500 operating days, or almost five years. Can your incandescent bulb say the same thing? And if a single LED light can last that long, how much longer can much costlier systems be expected to operate?

Summary

As you can see, there are a lot of reasons why investing in energy-efficiency upgrades in multi-family properties makes a lot of “cents” for any developer or investor. What are you waiting for?

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Source by William Carson, Jr

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Anyone taking medication on a regular basis is at risk for over-paying. Your pharmacy will have little reason to suggest cost-saving measures. After all, that will affect their bottom line. It is up to you, the patient, to be pro-active in finding an affordable regimen of medications.

Here are the top 10 reasons why you may be paying more than you need to for medication:

1. You don’t know your formulary. If you have insurance, you have a formulary, whether you know it or not. A formulary is a list of medications that your insurance covers at various price levels. Some medications will cost significantly more than others. Your doctor cannot be sure of prescribing a medication on your formulary unless you bring your list of formulary drugs along with you to your doctor appointment.

2. You don’t know your options. There are always options. Although your doctor may suggest only one, when cost is a concern be sure to ask about less expensive options as well as the pros and cons related to each one. You may find that the so-called best choice costs 5 times as much for a 5% greater benefit.

3. You started on a medication that has suffered price increases. It’s not uncommon for a doctor to start a patient on a cost-effective medication, only to find years later that the cost has increased considerably. Though initially it may have cost lost than a competing drug, with time the ‘playing field’ changes. Costs may increase and other drugs may go generic. If you find you are paying more and more, ask your doctor about changing your medication. Pharmaceutical manufacturers are well aware that if they can get patients started on their drugs, they are likely to continue them, even if the price increases considerably.

4. You continue on a brand name medication when a generic becomes available. Although insurance companies usually bring this to your attention, you may accidentally be taking a brand-name medicine even though a generic exists. As long as you’re willing to pay, your pharmacy may not point this out either. If you’ve been on a medication a long time, it doesn’t hurt to ask your pharmacist whether there might be a generic available or on the horizon.

5. You go to a pharmacy with a higher mark-up. Pharmacies purchase medicine at wholesale prices, but charge their customers the retail price. The pharmacy has the right to mark up their drug as much as they wish, which sometimes makes a significant difference in what you pay – easily $20 on a brand-name drug, from one pharmacy to the next. Price-shopping is the key to finding the lowest price.

6. You don’t buy in bulk. It’s almost always cheaper to buy a three-month supply of a drug rather than buy a one-month supply three separate times. Pharmacies charge a dispensing fee to prepare your bottle of medicine. You’ll pay this fee three separate times if you purchase your medicine monthly rather than in three-month allotments.

7. You’re taking a more expensive dosing regimen. For example, many drugs are cheaper to take a higher dose once a day than a lower dose twice a day. Also, the most commonly used dosage strengths are usually the least expensive, regardless of dose. Ask your pharmacist if there is any way to change your dosing schedule to decrease your cost.

8. You’re taking a ‘cadillac’ drug when a ‘pick-up’ would do as well. Doctors are often encouraged to use the latest and best, even though yesterday’s best is nearly as good as today’s. Ask your physician if an older remedy might be worth trying first.

9. You’re taking medicine you don’t need. Just because you required a medicine 5 years ago does not necessarily mean you need it today. Ask your doctor to re-evaluate your entire medication regimen. This may take a good 15 minutes to discuss, so don’t try to tack it on at the end of a visit, when it’s not likely to be addressed thoroughly. You would be better off making a separate appointment for the single reason of reviewing your medication options. Even if this costs you $100, you could easily make up that difference in a month or two of taking less expensive medications.

10. You’re taking a higher dose of medicine than required. Again, although you may have needed a certain strength of medication initially, as your disease comes under better control you may actually require less. A good example of this is asthma controller-medication, such as inhaled steroids.

Giving some thought to your medication is a good place to start. Learn the cost of each medication before discussing it with your doctor. Anyone taking more than one or two medicines is likely to find some way to trim at least several dollars a month from their medication bill, easily amounting to a hundred dollars a year.

Copyright 2010 Cynthia J. Koelker, M.D.

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Source by Cynthia Koelker

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The news about money and light savings by replacing old bulbs is old news (unless you have been living under a rock). But the topic of light savings is not overdone yet. Suppose every household in the US would switch to high-efficiency light bulbs (such as compact fluorescent bulbs). This would reduce the nation’s energy consumption by 10% in the residential sector. The residential sector, by the way, accounts for about 20% of all the energy use in the US. That’s a lot of oil.

Still not sure about switching to high-efficiency light bulbs? Don’t buy the hype about light savings? Don’t believe the positive impacts on the pocketbook or the environment? Want to calculate and test the light savings for yourself? OK, let’s tackle the cost savings and simple payback below. (Simple payback refers to the amount of time it takes for you to make back the cost of the new bulbs from the savings).

To calculate the bottom line, here is the information needed:

• The wattage rating (watts) of the existing bulb
• The wattage rating (watts) of the new bulb
• The number of hours we use the bulb every day
• The rate we pay for electricity in kilowatt-hours or kWh. You can find your electric rate by looking at the electricity portion of your utility bill.
• One kilowatt is 1,000 watts, so we must remember to divide our answer by 1,000 to convert it to kilowatt-hours
• The cost of the original bulb
• The cost of the new bulb

As an example, let’s swap out a highly used light bulb in a fixture in a living room that is on continuously for 5 hours per day. The fixture has one 100 Watt incandescent bulb which costs $050. It is to be replaced with one 25 Watt compact fluorescent or CFL (provides the equivalent brightness of the incandescent), costing $2.50. Let’s assume $0.15 per Kilowatt Hour (kWh) for electricity rate, the national average in the US.

To calculate the cost savings, first calculate the energy usage of the existing bulb, then that of the replacement bulb. Hopefully, the replacement bulb energy use will be less than the existing bulb’s. The difference between the existing and the new is the savings. Here is the formula to calculate the cost of energy used per year:

Yearly Cost of Energy ($) = number of bulbs X watts per bulb/1,000 watts X hours of use per day X 365 days X electric rate

So, for our example:

Cost of Energy for existing bulb ($) = 1 bulb X 100 watts X 5 hours per day X 365 days X $0.15 per kWh/1,000 watts = $ 27.38 per year

Cost of Energy for replacement bulb ($) = 1 bulb X 25 watts X 5 hours per day X 365 days X $0.15 per kWh/1000 watts = $ 6.84 per year

Savings per year ($) = $ 27.38 – $ 6.84 = $20.54

Here is how to calculate the simple payback in years:

Simple Payback (Yrs): ( Cost of new bulb ($) – Cost of old bulb ($) ) / yearly savings ($)

For our example, the simple payback is:

Simple Payback (Yrs) = ($2.50 – $0.5) /$20.54 = 0.1 years or 1.2 months

That is not a bad return on investment for light savings. An average house has about 15-20 light bulbs. If all of them were the same as the example above, that would result in a savings of about $411 per year. You can use the same method to calculate the savings for each room in your house, and add up all the room savings to get a total of your yearly savings.

You can check your savings by monitoring your utility bills from month to month, provided that your rates stay the same and you do not change the hours of operation on the bulb. Even with proven savings, there still seem to be objections to replacing incandescent bulbs with compact fluorescent lights (or CFLs), or light emitting diodes (or LEDs), otherwise, this would be a “done deal”.

LEDs provide even greater savings (light savings of 90%), and longer lifespans (25,000-50,000 hours) and will be the dominant technology of the intermediate future. They are also more environmentally friendly to produce, and are less susceptible to breakage or moisture. But at this point, their major drawbacks are their high price and lower light output (or lumens) as compared to incandescent bulbs. The technology is advancing very rapidly though, and once prices drop to reasonable levels, these issues will be a passing memory.

CFLs, on the other hand, are much more accessible and affordable, and have come a long way in closely matching the light output and utility of incandescent bulbs. A repeated complaint about them is that CFLs need to warm up to reach full brightness, but that is typically on the order of seconds to a minute for specialized bulbs. They are also affected by moisture and humidity.

While the cost of CFLs is still higher than a $0.50 incandescent bulb, the prices have come down to affordable levels for replacements, typically on the order of $1.50-$4.50 per bulb, depending on the type. The average lifespan of CFLs is 8,000 hours (or roughly five years at four hours per day of usage), whereas incandescent bulbs are rated for 800-1,200 hours. One thing is worth noting for light savings calculations. The lifespan of CFLs decreases if they are of switched on and off frequently. If you plan on installing them in areas where they will be switched often, then lower their lifespan by 20% to 6,400 hours.

What about the mercury in CFLs? The amount of mercury in a CFL is 5 mg or about 1/100th of the amount of mercury in one tooth filling (500 mg in tooth filling). Even more to the point, the mercury used by a power plant to manufacture an incandescent bulb is 10 mg, whereas for a compact fluorescent it is roughly 2.5 mg. None-the-less, broken bulbs must be handled with care and burnt bulbs should be disposed of at home centers such as Home Depot and Ikea.

No matter how we look at it, light savings from replacing incandescents is one of the easiest and cheapest methods of incorporating energy efficiency and deriving home energy savings. Many countries have started to systematically phase out the production of incandescent bulbs. The economics is there, and the environmental benefits will only improve as technology advances.

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Source by Lina Kohandoust