Labor management in radiology has a direct effect on profitability, is your group successful at managing labor?
WASHINGTON, D.C.-Research shows that estimates of cost inefficiency in healthcare range from $700 to more than $1 trillion, Bill Lammers, national director of labor management, Premier Inc., said at AHRA 2014.With lower reimbursement and more money at risk, more and more organizations need to put procedures in place to maintain profitability, Lammers said. Labor is the largest component of hospital costs, accounting for 60 percent of net revenue, he said.The ability to effectively manage labor is a discipline, not a project, Lammers said. Lammers identified 11 principles needed for effective labor management. He emphasized the need for benchmarking and understanding that labor management was a journey, not a goal. Check out the slideshow to see what Lammers outlined as keys to effective labor management in radiology.