Over the past few weeks, our team has featured a short series of articles about key performance indicators – how to obtain these actionable rehab therapy insights within a skilled nursing facility (SNF) and how they enable practitioners to provide the best quality of care to patients.
In our first KPI spotlight, we looked at the importance of measuring productivity to maximize efficiency. And in our second spotlight of the series, we saw how clinical outcomes (CO) are critical in achieving positive results for patients.
For our final spotlight, we will look at employee and labor KPIs, how they can directly relate to a facility’s expenses and how they can affect the overall organization.
Why are Employee and Labor KPIs Important?
Employee and labor (E&L) KPIs are essential for every SNF organization to track. These KPIs allow SNF rehab therapy teams to monitor labor expenses – employee salaries and benefits packages – as well as labor hours, labor expenses by site, different employee types (full-time vs. contract), and more.
By tracking employee and labor KPIs, a director of rehab or area manager can also see if, at any given time, expenses exceed revenue.
Additionally, E&L KPIs and a facility’s efficiency go hand in hand. These KPIs enable SNF teams to review the current productivity levels of rehab therapists. Then, if necessary, adjustments to improve productivity can be assessed.
Do certain shifts need to be modified? How do overtime hours come into play? Evaluating these factors and asking these questions can help enhance therapist productivity and keep efficiency rates high.
What Happens if a SNF Has High Labor Costs?
There are situations where some E&L KPIs may indicate that a facility has high labor costs, and these costs may be more than the revenue coming in.
In such instances, moving some staff members around to different sites or alternate working hours can help ease the costs for larger SNF organizations.
From a corporate perspective, these issues can also be compensated for in other ways. For example, if a couple of facilities are generating poor labor numbers but other facilities are in good standing, administrators can respond accordingly.
SNF leaders may sometimes benefit to look at the overall number of organizations instead of individual facilities to get a clear idea of where they stand.
How Can You Best Track Employee and Labor KPIs?
Net Health Therapy for Skilled Nursing was designed to help SNF rehab therapy teams track performance in key areas with an optional Business Intelligence (BI) tool that features detailed, easy-to-understand dashboards.
SNF therapists and managers can utilize the employee labor dashboard to access highly detailed information, such as labor hours, labor expenses by individual sites, sites with the highest expenses, labor expenses by employee type, and labor expenses by discipline.
Instead of running multiple reports, SNF rehab therapy teams can now analyze all aspects of employee and labor KPIs in an all-in-one dashboard with drill-down capabilities that gather operational, financial and clinical data.
With a BI tool at their fingertips, SNF organizations can embrace a comprehensive solution that keeps up with changing employee and patient needs.
Learn more about our BI solution by scheduling a demo today.
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