Music is transcendent. It can be inspirational, motivational, therapeutic, and cathartic. Great music can be an immediate memory recall, bringing you back to a time and place with only a few notes.
Change is hard. Whether it be incremental or swift, it is typically met with some resistance. However, as Socrates once said “the secret of change is to focus all of your energy, not on fighting the old, but on building the new.
The months leading up to a fiscal year turn can be stressful enough. In light of the current climate, healthcare organizations are faced with even more significant challenges. Any preliminary volume and staffing projections previously in place are now being cast aside and re-evaluated based on new strategies to restore financial stability.
Healthcare is a demanding industry. There are a LOT of emotions associated with each experience, from the high highs of saving a life to the low lows of losing one. In recent months due to the COVID-19 crisis, healthcare professionals have endured mentally and physically grueling work conditions never before experienced.
The U.S. Healthcare System is currently wasting an estimated $765 Billion (23% of what is spent) per year due to inefficient operations! Surprisingly, the majority of this waste is not being generated by pricing failures and supply chain issues, but through workflow and labor management deficiencies.
Any healthcare consultant that focuses on productivity will tell you the mixed reactions received when sharing that you have been engaged to improve performance. Why are we, as an industry, conditioned to fear a word that brings value, accountability, and increased efficiencies to hospitals and health systems? Historically speaking, productivity was synonymously linked to a reduction in force or layoff. It is no wonder that just the mention of it could send panic across an organization, especially if previous experiences have left staff feeling lost, defeated, and defensive.
With personnel expense making up more than half of the total operating cost of most hospitals and health systems, it essential to understand how many FTEs your organization truly needs to run efficiently. A Full-Time Equivalent, or FTE, is the sum of all worked or paid hours divided by the total hours in a pay period. For most organizations, that’s 80 hours per pay period or 2080 hours per year.
At ALTIUS, the safety, health, and well-being of our clients is our number one priority. As we continue to navigate through these uncharted times and the impact of COVID-19 on day-to-day operations, we want you to know that our team is here to support you. Please read our statement below (click to enlarge).
Productivity and workforce optimization engagements most often start off with the best of intentions. However, there are common missteps that can lead to undesirable results or negative outcomes. In the latest episode of ALTIUS Answers, CEO Stephanie Dorwart and COO RandiLynn Lukac discuss eight key elements to successful performance improvement! When messaged correctly and managed effectively, productivity engagements can create a positive culture of change focused on accountability and process improvement with a big impact.
As the saying goes, “asking for help doesn’t mean that you are weak, it means that you are wise.” Recognizing your organization’s strengths and knowing when an outside perspective is needed to drive greater levels of performance is the forward-thinking attitude that successful healthcare leaders embody. While sourcing the support of a consulting team isn’t always the most “popular” approach, it can be the most effective.