Concerro Adds Labor Analysis Tools From Workforce Prescriptions
Labor Utilization Audit and Hospital Pay IQ Reports Provide Objective Analysis of Labor Efficiency
Concerro, Inc., the market leader in SaaS-based workforce management and emergency response systems that improve both the quality of life and the bottom line, recently announced a partnership with Workforce Prescriptions of Hudson, FL, to license Labor Utilization Audit, a service designed to discover root causes of labor waste, and Hospital Pay IQ Reports, the company's quarterly reports that measure the labor efficiency of hospitals.
By using labor analysis tools to help determine the root causes of labor misalignment, and implementing people-sensitive corrective changes, Concerro is now able to develop and sustain permanent labor cost reductions that help healthcare organizations improve productivity without diminishing capacity.
"Concerro is committed to helping hospitals reduce labor costs and improve efficiency through workforce management systems that leverage resources across an enterprise and create a versatile workforce," stated Graham Barnes, CEO of Concerro. "These tools are another way for us to help not only our 500+ client facilities, but all hospitals improve labor efficiency by identifying specific labor waste opportunities for potential corrective solutions."
Concerro will utilize the Labor Utilization Audit methodology to analyze multiple areas of labor performance including the effectiveness of scheduling practices, use of premium pay and agencies, cause of delays in care, impact of policies on labor availability and levels of productivity.
The analysis gathers quantitative, qualitative and statistically-driven data encompassing over 1,500 distinct data points to determine root causes of labor misalignment. Custom reports detail how much labor waste is occurring and why, how much labor waste is recoverable and when, and provide actionable recommendations for creating change-sensitive progress against recapture goals.
"The Labor Utilization Audit identifies an average of $11.4M in annual waste per hospital and eventually results in over $7M of realized annual savings," stated Charlie Dawson, Workforce Prescription's president and CEO. "This track record, amortized over Concerro's hundreds of clients, creates the opportunity for Concerro to make a measurable bottom line impact on an entire industry – a thing most companies can only dream about. We are proud of our partnership with Concerro and pleased to have finally discovered a firm with whom we are value aligned. We look forward to working with Concerro in accomplishing our shared vision of ensuring the sustainability of America's healthcare system."
Under terms of the agreement, Concerro will also license quarterly updated Pay IQ reports on nearly 3,600 acute facilities in the United States. These reports help hospitals determine their unique Pay IQ score and levels of labor waste – both calculated using algorithms that adjust for differences in reimbursement and cost of living, for individual hospitals. Pay IQ scores range from 80 (challenged) to 140 (genius) and are a validated indicator of the effective use of labor spending. Healthcare leaders can now access their custom Pay IQ report on Concerro's website for free.
Concerro also utilizes Workforce Prescription's Hospital Labor Waste Recapture Calculator, which identifies key indicators of labor waste to create an opportunity estimate of an organization's cost improvements based on care and work processes, resource design, allocation, and productivity and management of the continuum of care.
About Concerro
Concerro is a healthcare Software-as-a-Service (SaaS) company that provides healthcare workforce and emergency response and incident management systems that improve both quality of life and the bottom line by reducing costs through optimization rather than reduction. The company has won numerous awards and recognition, including being named to the prestigious Inc. 5000 for three consecutive years, and receiving Red Herring's 100 most promising private technology ventures in North America and Best of SaaS Showplace (BoSS) awards.
About Workforce Prescriptions
Workforce Prescriptions is an "evidence based" consulting firm headquartered in Hudson, FL that provides assistance to hospitals desiring to enhance revenues, reduce cost of labor and length of stay, or improve work practices/processes. Workforce Prescriptions focuses primarily in the not-for-profit sector of healthcare in order to "assist those organizations whose own mission requires them to take extraordinary risks in order to ensure access to quality healthcare for the neediest of Americans."
SOURCE: API Healthcare, A GE Healthcare Company