Combatting Clinician & Physician Burnout: A Guide for Healthcare Leadership
Clinician and physician burnout has emerged as a critical issue in healthcare, posing significant challenges to both providers and organizations. The...
3 min read
Futura Healthcare
February 13, 2023 at 11:00 AM
With numerous reports of declining operating margins in hospitals across the country, many institutions are struggling to maintain financial stability.
Hospitals have been facing surging labor and overhead expenses, driven in part by:
That’s a lot of headwinds, so how might healthcare leaders respond?
Healthcare leaders must find ways to respond to these challenges. In the past, the typical solution was to implement a reduction in force. However, this approach may not be the best option. For example:
Why endure widespread organizational disruption when there is a better alternative? With Futura Healthcare's Strategic Cost Management solution, hospitals can achieve profitability through improved productivity with their existing staff.
Strategic Cost Management (SCM) focused on workforce optimization enables your hospital to address labor and overhead expenses by:
Plus, long-term financial benefits:
“I’ve been in healthcare for 20 years, and every productivity analysis group we worked with felt like hand-to-hand combat until we partnered with Futura Healthcare. They built a positive rapport with our managers, focused on factors we could control, and we realized $10 of savings for every $1 we invested in less than a year.”
- S. Lee Boles Jr.
Chief Executive Officer
Hunt Regional Medical Center
SCM’s critical element is buy-in. All decision-makers must be aligned with the mission and strategy of your healthcare system. To be effective, an SCM engagement should be developed in close concert with your managers, so the final product is seen as “their own.” Accordingly, increased organizational effectiveness will be achieved by:
SCM principles impact healthcare productivity improvement by empowering management to make more rational decisions about using existing staff. Unlike the slash-and-burn job-cutting approach, SCM yields durable productivity increases and cost savings through:
Futura does not execute an SCM evaluation of your hospital, write a report, and walk away. We believe education and empowerment are essential for continuous improvement. Sustainable change occurs at the front-line management level where managers are provided with the tools, education, and timely data to make effective decisions. The SCM process for success includes the following steps:
Over the last year, Futura Healthcare has partnered with more than 50 unique health systems. Each of our clients is different, so we tailor our solutions to the greatest opportunities for improvement which has led to more than $500 million in achieved savings.
Click here to request a phone call with Futura’s Senior Vice President, Mike Talerico, so we can learn more about your top strategic initiatives and identify steps to help you exceed your goals and improve your margins with a Strategic Cost Management solution.
Clinician and physician burnout has emerged as a critical issue in healthcare, posing significant challenges to both providers and organizations. The...
It's no secret that labor costs and financial challenges are affecting the majority of hospitals today. Futura is uniquely positioned to help both...
With numerous reports of declining operating margins in hospitals across the country, many institutions are struggling to maintain financial...