Workforce

Wellspring+Stockamp’s Workforce solution provides a comprehensive approach that delivers substantial labor cost improvements rapidly, while maintaining or improving levels of patient care, quality, service, and morale within the workplace.

What Sets Us Apart
Labor is the most sensitive cost center within a hospital, with the greatest potential for savings. Here’s
how the Wellspring+Stockamp approach to reducing labor costs stands apart.

• Speed. Because of our experience and skill in implementation, our solution delivers results very rapidly, typically after just six months.
• Collaborative approach. We focus on implementation, and we bring a team of experienced content experts – seasoned professionals who work on-site, side-by-side with hospital managers and staff. Our collaborative approach ensures the sustainability of results and builds a culture of continuous improvement.
• Work redesign. To maintain or improve quality levels, we conduct a comprehensive review of existing operating performance. We work with department managers, physician leaders, and senior management to implement custom solutions and tools, helping managers achieve optimum results at lower labor costs.

Labor Solution
Our programmatic approach includes both Labor and Human Resource solutions. The Labor solution focuses on:

• Workload volumes. We look closely at service demand, coordination and utilization to guarantee that workload is met efficiently and effectively.
• Staffing management. We develop and implement tools to effectively manage staffing levels, matching staff to changes in demand, as well as managing the use of overtime, paid time off and contract labor.
• Process redesign. We conduct a detailed analysis to identify improvement opportunities, using nationally accepted data sets from a wide variety of sources. We pinpoint areas of opportunity and work collaboratively to redesign work in order to ensure results.
• Labor productivity. Using proven benchmarking and monitoring systems, including position control, vacancy review committees, Action OI and labor productivity monitoring tools, we work collaboratively to optimize staffing levels required for high quality service.
• Cost reduction. Our solution effectively manages salary programs, benefit costs, paid time off and other labor costs.

Human Resources Solution
Our Human Resource solution brings a comprehensive performance improvement approach to HR. This focus includes:

• Benefits. Our solution designs and delivers health insurance and pharmacy plans that rein in costs.
• Compensation. We review and implement proactive management of compensation and premium pay practices to align with business needs.
• Leave Management. We redesign plans into an integrated program that includes PTO, FM LA, STD, LTD and worker’s compensation.
• Retirement. Our solution reduces expenses through plan design and administrative contract review.

Unmatched Results
Wellspring+Stockamp’s Workforce solution maximizes financial value and increases marketplace
competitiveness. Our track record of success in substantially reducing labor and human resource costs is unmatched in the healthcare industry. Because of our comprehensive approach, our solution delivers an ROI from 4:1 to 7:1. We implement savings that range conservatively from 5 percent to 10 percent of payroll expense, or higher.

Show all professionals that specialize in Workforce