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News Release

Healthcare Insights Releases Enhanced Insights Core Solution for Improving Labor Productivity

Enhancement allows INSIGHTS® users to collect, report, and assess labor productivity data down to the employee and pay code level in seconds.

 

Salt Lake City, Utah, July 27, 2009 — Healthcare Insights LLC (HCI), the leading provider of financial management software for the healthcare industry, announced that it has enhanced INSIGHTS Core, the flagship of its award-winning software, service, and support suite. The latest enhancement, INSIGHTS Labor Productivity, assists hospitals with labor expense control, productivity, and efficiency. It immediately identifies process and performance improvement opportunities that can lead to significant hospital-salary expense savings—without compromising the quality of care delivered.

 

INSIGHTS Labor Productivity provides decision makers with comprehensive monthly, bi-weekly, daily, or even shift-based information about productive and non-productive labor costs, including monitoring of overtime, agency use, skill-mix and pay-rate decisions. In seconds, this data can be collected, reported, and compared to flexible or fixed budget figures for full-time equivalent employees (FTEs) per productivity (workload) unit at the department/job, pay code, and employee level.

 

INSIGHTS Labor Productivity also enables organizations to adapt reports to the unique needs of any area within the enterprise—inpatient, outpatient, surgical suite, and so on. Managers get timely reporting that combines relevant indicators of workload and calculates required hours for comparison to actual hours so they can make sufficient staffing modifications. In addition, labor review and automated alerts based on user-defined benchmarks display on-demand and foster a culture of accountability.

 

"Total labor expense for healthcare provider organizations can exceed 50 percent of a hospital's operating costs and 90 percent of its variable costs," said Thomas Johnston, HCI Chief Operating Officer. "The ability to reduce labor cost by even a very small percentage is critical to increasing the operating margin and helping grow the bottom line. HCI believes that monitoring productivity has become even more important as healthcare providers are challenged, on a daily basis, to manage costs as well as revenues. INSIGHTS Labor Productivity delivers accurate, well-timed information that helps hospitals manage to budget, adjust actual to required staffing levels, adjust staffing mix, and assess productivity so they can optimize labor expenditures."

 

For additional information about Healthcare Insights and the customizable INSIGHTS product, visit the company's website at www.hcillc.com.

 

About Healthcare Insights LLC

Healthcare Insights LLC provides intelligent decision support and management accountability software for the healthcare industry, as well as educational training and business application consulting services. The company's proprietary technology, INSIGHTS, allows small to large healthcare organizations to easily define, establish and monitor financial and non-financial goals. Corporate headquarters are located in Libertyville, Illinois. Healthcare Insights is accessible via the Internet at www.hcillc.com.

 

For Additional Information:

Thomas Johnston

Healthcare Insights LLC

Tel: 847-924-0122

Fax: 847-295-5213

tjohnston@hcillc.com