Health System Gains Turn-Key Visibility
to Hidden Labor Costs
Large National Healthcare System
$2M (per hospital)
“We suspected there were untapped labor savings and areas of waste beyond productivity, but lacked visibility to take action. With the WorkforceIQ LCO Plug-In, we’re using our analytics platform to drill into the highest impact areas – by department, by employee, to drive out waste without impacting care.”
– VP Hospital Operations
Client Goals & Challenges:
This health system was facing unprecedented margin pressure and demand to reduce operating costs. The organization had already matured its labor productivity management program, but suspected hidden labor savings opportunities and waste. The health system sought to leverage existing technology and data, but lacked internal resources and expertise to accelerate visibility to the most impactful savings opportunities.
Workforce Insight Solution:
Labor Cost Optimization (LCO) Analytics Application/Plug-In
Within 5 weeks, Workforce Insight provided this client with turn-key visibility to the most impactful hidden labor costs and areas of waste within the organization. Workforce Insight implemented its Labor Cost Optimization (LCO) Analytics Plug-In, embedding healthcare best practice models and custom dashboards to deliver speed-to-value in identifying the most compelling opportunities.
Key attributes of the Labor Cost Optimization Plug-In include:
Value-added visibility, without duplication
The labor cost optimization analytics solution leveraged the client’s existing workforce technology investment, security settings and data structures – expanding the technology ROI and accelerating results.
Niche analytics and healthcare industry expertise
Workforce Insight augmented the client’s team with healthcare workforce management and analytics expertise, providing
- Dashboard visibility to labor cost key performance indicators (KPIs) exclusive of labor productivity to drive operational improvement
- Ability to set performance targets by key labor cost optimization metric, by department
- Drill down functionality, by department, by employee for each labor cost KPI to drive actionable performance improvement
- Consolidated organizational performance measurement by
labor cost KPI and by labor level