Four Strategies to Contain Your Largest Operating Expense Category Without Alienating Your Workforce
This presentation—the second in a two-part series—continues to explore hospitals' and health systems' long-term margin challenge. After rebasing spending on supplies and purchased services, organizations must tackle their largest operating expense category: labor.
Hospitals and health systems should seek to slow the growth of labor expenses rather than rebase them through undesirable tactics such as mass reductions in force or benefits changes. Slowing the growth of both administrative and clinical labor expenses will be central to an effective cost-containment strategy.
Things You’ll Learn:
- Guidance on reducing administrative duplication and achieving true integration
- Strategies to improve workforce productivity
- How managing length of stay helps contain labor expenses