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  • Title: Time is money--labor analysis toolkit.
    Author: Healthcare Financial Management Association, Kronos Incorporated.
    Journal: Healthc Financ Manage; 2002 Nov; 56(11):suppl 1-8 following 80. PubMed ID: 12836657.
    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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