Knowledge

Predictive Analytics and Value-Based Healthcare

Predictive Analytics and Value-Based HealthcareDecember 1, 2015 by Vickie Anenberg

Value-based care and reimbursement require healthcare facilities to implement new programs that promote high quality care, reduce readmissions, and raise patient satisfaction scores. Cross Country Staffing has developed a cloud-based Predictive Labor Management tool to identify census patterns and scrutinize labor data, which produce highly accurate forecasts enabling a healthcare facility to improve its operational efficiency.

Using predictive modeling, Cross Country Staffing can analyze five years of historical data to optimize a facility’s total labor spend, improve HCAHPS scores, and supplement core staff with contingent staffing guarantees. This is particularly important for healthcare organizations that have labor costs swallowing over 45 percent of their net patient revenue.

Accurately predicting labor costs and staffing levels ensures our partners can maintain the staff-to-patient ratios to provide consistently high quality care while reducing overhead. Additionally, having this knowledge enables hospitals and IDNs to allocate resources for pilot projects to test transformational healthcare concepts to make them more competitive.

Several key factors make Cross Country Staffing Predictive Labor Management unique. For example, we go beyond analytics alone by providing recommendations for a workforce solution that will produce hard dollar savings. Next, we assign a professional staffing team that will fully support the implementation and management of this solution. After the go live, the team continuously monitors performance to deliver measurable results that build trusted relationships.

Predictive Labor Management is part of a suite of workforce solutions developed by Cross Country Staffing. These solutions are proven to help healthcare organizations successfully meet their immediate and long-term staffing challenges.

For more than 35 years, Cross Country Staffing has worked with hundreds of healthcare facilities nationwide to take control of their staffing spend. We provide qualified contingency employees when and where they are needed, and offer staffing innovations that help set the standards for quality care and patient satisfaction. To fully understand how we can customize an end-to-end staffing program that will support your business strategy, we invite you to contact a Cross Country Staffing representative.