Process Improvement and Labor Expense Management | FTI Consulting

Process Improvement and Labor Expense Management

Healthcare & Life Sciences

November 18, 2013

Labor management is central to operations in hospitals and healthcare organizations. Inefficiencies can have enormous impact on an organization’s productivity, as well as on its expenses. FTI Consulting ’s approach to labor expense management is rooted in process improvement within departments, rationalization of activities across services including consolidation of activities/departments, focus on premium pay and benefit expense and review of organizational structure to reduce management layers and improve effectiveness. Productivity targets are designed to sustain productivity gains over the long term. FTI Consulting ’s robust and flexible productivity monitoring tool tracks and trends productivity and labor expense in an on-going basis.

Focused approach to maximizing benefits and minimizing costs

The FTI Consulting Approach
FTI Consulting assists hospitals and other healthcare organizations in creating and implementing sustainable solutions to challenging operational and financial problems. FTI Consulting ’s Operations and Labor professionals are experts in assessing and improving labor productivity and reducing expense. We target optimal areas for improvement and focus on those select areas. Our professionals are experienced hospital operators who improve performance by eliminating non-value-added work and by offering sustainable recommendations. These operational changes often have a positive ripple effect throughout the organization.

Comprehensive Services That Achieve Optimal Productivity
The FTI Consulting labor and process innovation service line provides measurement, comparison, validation and improvement of departmental labor productivity and labor expense management. We assess an organization’s labor force and workflow efficiency against pertinent benchmarks and, when appropriate, offer department-specific plans for improvement. Our professionals also offer implementation assistance, monitoring, and maintenance

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