API Healthcare, the leading provider of human capital management solutions to the healthcare industry, today announced the availability of its new Business Analytics solution, a software application that provides hospitals and health systems with a centralized source for analyzing workforce information across the enterprise.
API Healthcare’s Business Analytics enables executives to monitor enterprise operations and drill into detail as needed while managers can evaluate workforce information, identify cost-saving opportunities and take immediate corrective action for day-to-day activities. Data is presented in a user-defined graphical dashboard, allowing users to access high level overviews and then drill down to more detailed views where they can perform in-depth analyses, review historical trends and make staffing changes. For example, while reviewing overtime usage, a department manager is presented with the employees who have preventable overtime in the pay period and then can reassign the shifts as desired. Any modifications are automatically applied within the integrated applications, ensuring data consistency.
“The ability to access critical business information, such as projected overtime data, in real time and proactively respond takes business analytics to a new level,” said Scott Joslyn, senior vice president and CIO at MemorialCare, who has implemented API Healthcare’s Business Analytics solution. “Data becomes actionable information that is in an easily understandable format—helping the organization to make strategic and timely business decisions. We expect to see a substantial return on investment as this solution allows us to continue to drive down operating costs and provide a better work-life balance for employees.”
Fully integrated with the api LaborWorkx® suite of human capital management solutions, API Healthcare’s Business Analytics is currently comprised of two modules: Staffing Solutions and Overtime Cost Control. The Staffing Solutions module provides high-level and detailed views of departmental activity in respect to census, staffing ratios and schedules for the current and upcoming shifts. With this information, managers can quickly adjust the staffing matrix to meet required staffing ratios as patient acuity changes.
Within the Overtime Cost Control module, managers are able to view current and projected overtime, agency usage and other labor costs and set a percentage cap on overtime. In addition, executives can review current labor resource costs against projections and set revised expectations for future shifts. Additional modules will be offered as a complement to the solution to expand API Healthcare’s focus on helping hospitals drive down costs.
“With a national focus around controlling healthcare costs and, at the same time, delivering high quality healthcare, API Healthcare remains committed to providing our clients with real products to achieve these objectives today,” said J.P. Fingado, president and chief executive officer of API Healthcare. “Our integrated approach allows executives to have a single view into their current and near-term human capital costs and make actionable changes. With our rapid installation timeline, the implementation of Business Analytics can have an immediate and lasting positive financial impact to a healthcare organization.”
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