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PubMed · 12836657

Time is money--labor analysis toolkit.

Healthcare Financial Management Association·Kronos Incorporated
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Abstract

Ststemic workforce shortages combined with increased demand for healthcare services can lead to significant capacity limitations. Organizations can improve profitability through informed strategic and front-line labor management. For example, a typical 300-bed hospital could potentially save $5.3 million annually by moving from the median of labor-cost-per-discharge performers to the top quartile. These cost savings can be reinvested in labor resources--the salaries, benefits, and retention activities essential for long-term success.

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Cooperative BehaviorCost ControlDecision Making, OrganizationalEfficiency, OrganizationalFinancial Management, HospitalHospital CostsInterdepartmental RelationsPersonnel Administration, HospitalPersonnel Staffing and SchedulingPersonnel, HospitalProcess Assessment, Health CareSalaries and Fringe BenefitsUnited StatesWorkloadJournal Article

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Healthcare Financial Management Association, Kronos Incorporated. 2002. Time is money--labor analysis toolkit.. https://pubmed.ncbi.nlm.nih.gov/12836657/

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