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COVID-19 has placed America’s healthcare organizations under an unprecedented financial strain, with a total impact of $202.6 billion in losses between March 1 and June 30, 2020. To overcome these difficulties and return to financial viability, many healthcare leaders have reduced their most significant cost driver – human labor – which represented approximately 50% of total operating expenses before the pandemic.
At the same time, many organizations are struggling to respond to dynamically changing staffing needs, whether from Coronavirus outbreaks within their health network or from staffing shortages due to layoffs, reduced hours and furloughs.
More effective utilization of resource pools across your organization, health system or health care coalition is one key strategy that can help you reduce premium labor costs while improving your ability to staff your open shifts in an ever-changing environment.
Watch this to understand:
Manny Gagliardi
Managing Director of CTM, HealthcareSource
Alexa Rogers
Sr. Product Marketing Manager, HealthcareSource
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