The two resounding topics on healthcare websites and in related blog posts: (1) increased labor costs and (2) burnout or shortages of clinical staff. The article published in “Healthcare Finance” Labor Budget Increases, Staffing Shortages Loom Large for Healthcare Executives in 2019 highlights this exact topic.
This isn’t surprising considering access to healthcare for all has increased; therefore, there are more patients to see which, in turn, requires more staff which results in increased labor costs…see where I’m going here? It’s easy to see how this can quickly become a major concern for providers to analyze and keep up with demand.
It becomes evident while working with numerous healthcare clients that not all healthcare companies are treated equally regarding their maturity scale when answering specific labor questions, providing/analyzing data, or even supporting a labor productivity solution. Edgewater Ranzal’s complimentary Healthcare Labor Productivity Assessment Workshop not only helps reset clients’ expectations, but also uncovers clients’ enterprise-based labor productivity solution capabilities.
Our solution utilizes Oracle Cloud or on-premise technology to help clients see an immediate return-on-investment just by analyzing contract agency usage statistics, providing detailed overtime analysis, and offering the ability to compare productivity across national standards that are loaded into the system. Additionally, we help clients align their labor productivity solutions with their planning/budgeting processes to improve budget detail and accuracy. Comprehensive experience with data integration – often a challenging task for clients – allows us to work with staff to bring all the required data elements together to create a cohesive picture of labor productivity details.
Take a look at our webinar recording of The Key Ingredients to Understanding Labor & Productivity to learn more about our solution to uncover best practices in addressing labor productivity in your organization. Then contact Edgewater Ranzal’s Healthcare experts to answer specific questions about implementing a solution to help cut labor costs and provide data-rich analytics to your organization.