Managed Services & Analytics Program (MSAP) Three Ways to Control Contingent Workforce Costs in a Challenging Environment
2. Find the Right Balance of Talent The key to finding staff to fill immediate needs is combining approaches and thinking of talent broadly in terms of the enterprise. This perspective encompasses many more roles in a healthcare system than might first come to mind. In addition to core and contingent talent, there are Statement of Work (SOW) contractors, freelancers, remote workers, and even volunteers. Utilizing an outside organization to payroll the talent resource pool allows for ease of movement between states. Leveraging workforce analytics and choosing to outsource the recruitment process can be beneficial to creating the appropriately staffed workforce.
Leverage Operational Insights
Many healthcare leaders believe they need more staff, but thoroughly analyzing the data is necessary to determine the exact areas of shortage, the root causes, and the potential solutions. Through analysis of your data, such as staffing plans and information from a VMS, a Workforce Analysis identifies areas of under- or over-staffing and provides guidance on optimal core staff levels at the unit level as well as size and layering of contingency/flexible resources needed to meet patient demand. This technology solution can help lower the usage of premium labor, as well as:
• Identify actions toward realistic savings and opportunities for strategic realignment
• Optimize staff sizing and mix in alignment with census needs and financial goals
• Optimize revenue, margin, and costs by analyzing orders and worker performance
• Improve work-life balance, increasing staff retention
Having the right mix of core and contingent resources allows for cost-effective workforce management based on patient volume and ensures quality by optimizing staff levels and empowering individuals to work at the top of their training and licensing.
A Workforce Analysis was conducted for Temple Health and the implementation of an internal float pool was able to reduce contingency spending from 23% to 17% of total labor spend.
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