In this episode, we are joined by Tom Fox, Principal at ECG Management Consultants, to discuss financial pressures in hospital systems today and how workforce optimization aims to address staff shortages. This episode is sponsored by ECG Management Consultants.
Summary
Addressing Financial Pressures in Hospital Systems Through Workforce Optimization
Introduction: The Importance of Addressing Staff Shortages
Financial pressures are a major challenge for hospital systems today. To address this issue, hospitals are turning to workforce optimization, which focuses on how to maximize the efficiency of their staff.
The Expert Opinion: Tom Fox of ECG Management Consultants
Tom Fox, Principal at ECG Management Consultants, has extensive experience in performance improvement. He explains that workforce optimization is a critical issue for hospitals and health systems right now. Fox suggests that hospitals look at administrative overhead costs, focus on throughput, and discharge patients as soon as they can. Additionally, partnering with third-party post-acute care providers, recruiting from different states, training their own workforce, and offering a career ladder and professional education can ensure staff retention.
Challenges in Performance Improvement
Fox emphasizes that hospitals face challenges in performance improvement, and it is essential to develop long-term solutions by looking at the bigger picture. He advises that prioritizing efforts for the greatest benefits possible can help achieve the desired results.
Sponsored by ECG Management Consultants
This episode is sponsored by ECG Management Consultants, a leading consulting firm that specializes in healthcare, helping organizations navigate through complex challenges, including financial pressures in hospital systems.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 10/21/2022 and can be listened here.
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