The healthcare workforce's cost can be expensive, especially with unnecessary expenses in the hospital setting. Due to the COVID-19 pandemic, hospitals were forced to accrue unexpected funds. As an Administrator in Emergency Medicine, I have witnessed funds accruing, such as overtime, productivity improvement, and technology.
Three Key Drivers of Labor Cost
In my department, our overtime hours have reached a record high of 850 hours a week. The reason for the high numbers is because many employees contracted the virus, which causes staff shortage. New workflows and workstations were also implemented for the surge, which caused working hours to change under the social distancing regulations enacted to fight the COVID-19 pandemic. Hospitals have new methods to ensure patients' and employees' safety by applying different forms of communication. Emergency responders and healthcare professionals can't afford to be cut off from critical information and resources, whether working from home or out in the field (Layman, 2020).
Therefore, Juvare created the COVID tracking application and Emergency Medicine Communication application. These applications were designed to keep communication between the different facilities for bed capacity, the current number of employees infected with the virus, and existing patients infected with the virus. This productivity improvement helps with effectiveness in communication but can be costly to organizations. Lastly, the COVID-19 pandemic emphasizes the global health challenges, preventing people from reaching their maximum health and wellness potential. Hospitals have created telephone visits and video visits for the continuity of care for their patients; these methods help ensure patients' and employees' safety.
Current Industry Solutions
The healthcare industry's current focus is on implementing systems that can help detect infections as early as possible and identify and apply the right treatments (allergen, 2020). Simultaneously, the healthcare industry is continually looking to bring efficiencies in its internal processes to address peripheral issues regarding patient care. Big data analytics in healthcare is now evolving into a promising field that provides insight from extensive data and improves outcomes while reducing costs.
Future Changes
The pandemic has significantly undermined health insurance coverage in the United States. The Affordable Care Act (ACA) helps persons who lose employer-sponsored insurance by making subsidies available to purchase individual insurance in the ACA marketplaces, expand Medicaid eligibility, and require that private insurance cover preexisting conditions and a basic package of benefits (Blumenthal et al., 2020). Success is all about finding balance. And for healthcare administrators, the balancing act includes striving for that elusive balance between the high costs of labor and supplies and the high expectations of patient care (Saxena, 2015).
References
Allerin. (2020). Health Industry Solution. Retrieved from Application development | Big data| IoT | Digital Business | Cloud
Blumenthal et al. (8 October 2020). Covid-19 — Implications for the Health Care System. Retrieved from https://www. nejm.org
Layman, D. (3 April 2020). For the Duration – 5 Tips for Better Productivity and Working Effectively through the COVID-19 Pandemic. Retrieved from https://www.juvare.com
Saxena, A. (2 February 2015). Six ways to save money on labor costs without sacrificing care. Retrieved from https://www.beckerhosptialreview.com
Three Key Drivers of Labor Cost
In my department, our overtime hours have reached a record high of 850 hours a week. The reason for the high numbers is because many employees contracted the virus, which causes staff shortage. New workflows and workstations were also implemented for the surge, which caused working hours to change under the social distancing regulations enacted to fight the COVID-19 pandemic. Hospitals have new methods to ensure patients' and employees' safety by applying different forms of communication. Emergency responders and healthcare professionals can't afford to be cut off from critical information and resources, whether working from home or out in the field (Layman, 2020).
Therefore, Juvare created the COVID tracking application and Emergency Medicine Communication application. These applications were designed to keep communication between the different facilities for bed capacity, the current number of employees infected with the virus, and existing patients infected with the virus. This productivity improvement helps with effectiveness in communication but can be costly to organizations. Lastly, the COVID-19 pandemic emphasizes the global health challenges, preventing people from reaching their maximum health and wellness potential. Hospitals have created telephone visits and video visits for the continuity of care for their patients; these methods help ensure patients' and employees' safety.
Current Industry Solutions
The healthcare industry's current focus is on implementing systems that can help detect infections as early as possible and identify and apply the right treatments (allergen, 2020). Simultaneously, the healthcare industry is continually looking to bring efficiencies in its internal processes to address peripheral issues regarding patient care. Big data analytics in healthcare is now evolving into a promising field that provides insight from extensive data and improves outcomes while reducing costs.
Future Changes
The pandemic has significantly undermined health insurance coverage in the United States. The Affordable Care Act (ACA) helps persons who lose employer-sponsored insurance by making subsidies available to purchase individual insurance in the ACA marketplaces, expand Medicaid eligibility, and require that private insurance cover preexisting conditions and a basic package of benefits (Blumenthal et al., 2020). Success is all about finding balance. And for healthcare administrators, the balancing act includes striving for that elusive balance between the high costs of labor and supplies and the high expectations of patient care (Saxena, 2015).
References
Allerin. (2020). Health Industry Solution. Retrieved from Application development | Big data| IoT | Digital Business | Cloud
Blumenthal et al. (8 October 2020). Covid-19 — Implications for the Health Care System. Retrieved from https://www. nejm.org
Layman, D. (3 April 2020). For the Duration – 5 Tips for Better Productivity and Working Effectively through the COVID-19 Pandemic. Retrieved from https://www.juvare.com
Saxena, A. (2 February 2015). Six ways to save money on labor costs without sacrificing care. Retrieved from https://www.beckerhosptialreview.com