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The TRUE cost of contract labor

  • Thursday, January 25, 2024
  • 12:00 PM - 1:00 PM
  • On-line

Register today:

Session title: The TRUE cost of contract labor

Session learning objectives, description, or bullet points:

Hospital margins in 2023 have failed to recover to pre-pandemic baselines, remaining 50% lower, despite the industry reducing the utilization of travel RNs by 30% and allied health professionals by 12% across the first 3 quarters of the year. Considering that contract labor was cited as one of the primary contributors to increased operating costs, why aren’t we seeing an improvement? Join us to talk about the TRUE cost of contract labor and how to ensure your savings efforts are having the long-term impact that you desire.

Learning Objectives:

1. Explore the trends in contract labor over the last three years

2. Analyze why contract labor reduction strategies didn’t have the anticipated impact on the bottom line

3. Discuss ways to achieve long term cost reduction in the labor category

Presenter photo/bio:

Melanie Bell, MSN, RN, CENP

Senior Vice President, Fulfillment & Strategy, Vaya Workforce

Melanie Bell is an experienced nursing administrator with a background in labor and process optimization in the acute care setting. Prior to her career as a registered nurse, she was a business and financial analyst, working as a liaison between finance and IT. Utilizing her unique experience in clinical and business settings, Bell has managed nursing operations through rapid expansion and new facility openings. She joined MedAssets, later acquired by Vizient, to do workforce optimization consulting and joined the Contract Labor Management Team in 2015. Vizient Contract Labor Management was acquired by Aya Healthcare in October 2021 and is now Vaya Workforce. Bell led the development of Contract Labor Optimizer, Vaya Workforce’s proprietary Vendor Management System. In her current role, she leads fulfillment and strategy at Vaya Workforce, a wholly owned subsidiary of Aya Healthcare, which supports healthcare facilities in their contingent staffing needs through services, technology and analytics.

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