Hospitals are complex organizations that require a highly skilled and dedicated workforce to provide the best possible care for patients. Labor costs are the single largest expense for hospitals and health systems, typically accounting for over 50% of total operating expenses. As labor costs continue to rise, it is imperative that healthcare leaders look closely at the details of their operations and how to optimize their workforce to reduce costs and improve efficiency. Managing a hospital workforce is a challenging task, especially when it comes to recruiting and retaining staff and managing schedules all while ensuring the right resources are in the right place at the right time.
Pathstone will work with your team to complete a data-driven review of current state labor and workforce performance trends to identify macro-opportunity areas for further review. To validate high-level findings, our team will collaborate with key stakeholders within your organization to identify priority areas for implementation. This process can be achieved through a standalone Workforce review, or as part of an integrated Labor and Non-Labor engagement. Our integrated approach ensures that all costs are assessed holistically without establishing solution silos, reducing the overall administrative burden of cost savings implementation activities.
Pathstone Partners is a management consulting firm that works collaboratively with healthcare organizations to improve financial and operational performance.
