Managing the workforce and containing labor costs has long been an important initiative for hospitals and health systems. With labor accounting for more than half of operating expenses, labor cost containment has always been on the minds of healthcare executives, but it is quickly moving to thetop of their priority list.
A Becker’s Hospital Review survey of healthcare finance executives showedthat nearly three-quarters of respondents said that managing labor costs was the top financial concern keeping them up at night.
We then examined how health systems areaddressing those challenges.
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