About This Download
The Healthcare Financial Management Association (HFMA) tells us that labor expenses at medical facilities have increased in the last ten years. So much so that labor’s share of total costs is the highest at 55 percent. A 13 percent increase in hospital employment, which began rising in 2009 after the recession, has played a role in driving costs up.
Meanwhile, medical facilities are seeing cost reductions in other areas of operation due to the automation of specific business processes such as billing, patient communications, and electronic health records. These reductions have led to CFO’s and other stakeholders to seek savings in labor without cutting employees, wages, and most important, without compromising care.
Many organizations are finding these savings by leveraging time, attendance, and scheduling software. For healthcare providers looking to improve their processes to lower costs, time, attendance, and shift scheduling software provides long-term benefits by eliminating compliance issues, improving patient care, managing complex organizational structures, reducing turnover, and allowing HR departments to focus on improvements to the overall organization.
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