In the real world, CFOs and CEOs don’t control labor costs. Department managers do that with the staffing decisions they make—or fail to make—every day. Here are four steps any hospital must take to produce significant and lasting labor cost reduction:
- Identify credible work-load based staffing standards for each department.
- Establish department manager accountability for labor cost management.
- Provide timely, ongoing labor cost management feedback to department managers.
- Require department managers to systematically follow-up on year-to-date variances, identifying and resolving causes.
Labor cost savings of ten percent or more are often experienced when hospitals take these steps. Read on to learn how our services will help your management team make that happen.
Introducing the Operations Monitor
Everything is changing. Long established utilization and reimbursement patterns no longer apply. Scheduling assumptions, productivity standards and labor benchmarks must be adjusted to keep pace with changing workload and staffing requirements.
That’s why we developed the Operations Monitor, the most powerful resource of its kind for hospital management teams. In one package, the Operations Monitor provides pay-period department-level productivity reporting, utilization, and revenue results for the current period as well as graphics-based trend analysis and ongoing real-time password access to IMPACT’s labor benchmark database.
- Quick customized set up
- Automatic upload capability
- Department-level pay period Labor productivity comparisons
- Actual vs. Budget vs. Benchmark performance comparisons
- Current Period and Year-to-Date Reporting
- Annualized Workload, Labor Expense, and Revenue projections
- Automatic Critical Threshold “Action Required” alerts to designated Executives and Managers
In addition to powerful department reports, The Operations Monitor’s trend graphics are ultimately culture changing, helping to harness the total commitment of every department manager to resource management and business development. With its use and application, managers will develop an entrepreneurial interest in every aspect of department operations.
Employing the Operations Monitor helps you accomplish all four steps. Set up is fast, makes few demands on staff time, and is very unobtrusive.
To learn more about how you can put the Operations Monitor to work in your hospital, send an e-mail to firstname.lastname@example.org with “Operations Monitor” on the subject line and your contact information in the body of your query.
Additional Cost Management and Performance Improvement Services
Everything we do is designed around an understanding of the factors that limit human performance in the clinical setting. To see how our other services might meet your needs, select from the following.
- Productivity Benchmarks
- Staffing reviews
- Organizational Structure and Span of Control Analysis
- Performance Barrier Resolution
If you would like to arrange a discussion with your senior management team about our services, select this link or call (816) 587-2120. We will be happy to schedule a video conference to help you determine if our services are a good fit for current priorities.