Intelligent Mix® Offers Cost-Effective Solution for Hospitals’ Largest Cost, Nurse Staffing
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Reflective of increasing demand for healthcare services, the latest U.S. Bureau of Labor Statistics predict healthcare will continue to outpace other sectors in job growth through 2020. Still the sector faces declining reimbursement alongside rising costs, making its financial management a continued challenge.
Variable Cost Structure Key to Bottom-Line Savings
A rigid cost structure is the number one barrier to hospitals achieving more significant cost savings from clinical quality improvements, according to a recent article in the New England Journal of Medicine. While progress is being made in shortening lengths of stay and reducing readmissions, the “fixed-cost dilemma” requires that hospitals continue to increase volume to boost profits.
Methodology for Nurse Staffing In Synch with Census Fluctuation
With nurse staffing representing one of the largest costs incurred by hospitals, the Intelligent Mix® Nurse Staffing model is significant in that it offers a methodology for hospitals to adjust to even incremental changes in patient census. As a result, hospitals achieving near 100 percent utilization of nurse resources at approximately 20% cost savings to more traditional staffing strategies.
Intelligent Mix Nurse Staffing Model
The Intelligent Mix Nurse Staffing Model suggests targeting as a rule of thumb 80 percent census or capacity staffing, as opposed to 100 percent, and using a blend of float pool, per diem, traditional travel nurses and often overlooked rapid response nursing to supplement core nurse staffing. Rapid response nurse services are billed at a modest premium to traditional travel nursing, which typically requires a minimum 13-week contract and contract change fees. Rapid response nursing, as delivered by Fastaff Travel Nursing, the creators of Intelligent Mix, places nurses in less than ten days, including hard-to-find specialties, for variable length assignments and no cancellation fees with a two-shift notice. Fastaff also offers the first eight hours of overtime worked by each of its nurses at no cost to the healthcare facility.
“The model is ideal for managing census fluctuation, EMR conversions or unit expansions,” said Kay Cowling, CEO Fastaff Travel Nursing. “In the end, hospitals that follow the model benefit from greater control, visibility and flexibility of staffing expenses while achieving optimum staffing ratios.”
To download the Intelligent Mix White Paper or learn more about the Intelligent Mix Nurse Staffing Model visit http://www.fastaffmix.com or call (888) 507-9334.
Tricia Boone, 770-887-3971
KEYWORDS: United States North America Colorado
INDUSTRY KEYWORDS: Practice Management Health Hospitals Professional Services Finance Human Resources Nursing Managed Care