You know that reducing operational staffing inefficiencies represents one of largest sources of potential savings in hospitals today. Health systems need to systematically identify and reduce inefficiencies to achieve operating costs savings each year.
But how do you identify efficiency and cost reduction opportunities that are likely to yield significant results? It all begins with analyzing accurate benchmarks, staffing levels and timely workload utilization. A complete connection between benchmarking, budgeting decisions, and real time productivity is the only true pathway towards success. Then you will have the vantage point to clearly discern the improvement opportunities that can take your organization to the next level.
Sustaining labor practice improvements
Labor accounts for as much as 60% of health providers’ operating costs. Wrestling with unnecessary overtime and premium pay, lack of budgeting and planning, and misplaced skill sets all increase labor costs.
Many organizations can identify at least the rough scale of likely improvement opportunities. However, very few have the know-how and tools to realize and sustain significant operational gains.
By integrating your real-time internal labor management data, budgeting data and benchmarks, you can:
- Find opportunities for labor savings
- Tie employee productivity to a structured accountability process
- Research peer best practice
- Understand regular staffing demand changes within service areas
Pinpoint cost drivers
We can help you integrate data from acute care, outpatient, ambulatory, physician office settings. With this comprehensive view of your data, you can easily provide executive and operational insights that pinpoint cost drivers and staffing patterns. Then you can start pursuing attainable cost savings opportunities in all settings of care.
Strive to improve operational efficiencies and cost structures now. Delaying improvement initiatives will only put your organization behind in preparing for the changes that are coming next.
With more than 45 years of experience in labor management and a proven ROI of 14:1, we can help you effectively create a sustainable operational infrastructure.