Changing Attitudes: The Key to Achieving Hospital Productivity Gains
In today’s hospitals, it’s not uncommon to encounter defensiveness from inpatient unit managers who miss their productivity targets.
In today’s hospitals, it’s not uncommon to encounter defensiveness from inpatient unit managers who miss their productivity targets.
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By Eric Dam, MHA, Principal, Labor Cost Management, Compass Clinical Consulting: In interviews conducted with senior Chief Financial Officers of hospitals it is abundantly clear that there is a fear to pursue improved productivity / Labor Cost Management. Many hospital leaders, especially in the non-profit sector of the healthcare industry, fear productivity or are otherwise reluctant to pursue a formal productivity assessment and coordinated program to improve their labor cost management.
According to new study by Thomson Reuters, the key metrics to watch most closely right now are operating margins and frequency of elective procedures. If they start to slip, it may usher in a host of contagion effects.
By Eric Dam: If policies for clocking staff in and out is not addressed regularly, you will have an almost silent vacuum cleaner sucking badly needed financial resources out the door every day until suddenly a financial emergency hits the wall.