Jared has been serving as the Chief Financial Officer for UPMC Presbyterian Shadyside Hospital since 2016. He has been with UPMC since 2008 working in various finance roles. He also serves as a Board Member and Finance Committee Member for Bethlehem Haven, a homeless shelter in Pittsburgh, and a therapy dog handler for Therapy Dogs International. Jared received a Master’s and Bachelor of Business Administration from the University of Pittsburgh.
14. Cost Transformation and Labor Productivity: Stop Running Reports and Start Running Your Business
To effectively manage cost, healthcare leaders need the right data, provided to the right people, at the right time. UPMC first integrated patient- and physician-level analytics to gain better insight into operating costs and clinical variation across its provider footprint. More recently, they assessed their existing labor budget and productivity system, a decades-old, homegrown tool with outdated functionality and limited reporting on FTEs. Recognizing the opportunity for an improved solution, UPMC launched integrated department- and leader-level labor budget and productivity analytics, putting invaluable staffing and productivity information into the hands of operational leaders across its many hospitals.
Goals of this session:
- Understand the current challenges facing providers, including horizontal competition from large insurers and digital disrupters, headwinds from price transparency, and growth in managed care programs, like Medicare Advantage.
- Introduce a new approach to cost transformation, utilizing existing EHR data to create patient- and physician-level costing, and measuring clinicians based on value and the “Triple Aim.”
- Identify the elements of an effective labor budgeting and productivity solution, including key functionality for finance and operational users.
- Describe how data at the right grain increases the accuracy of analytics—and results in actionable improvements.
- Articulate the keys to success for labor analytics, including in-depth analysis of historical operations and staffing, consistent training and documentation, and engagement of key operating teams across the organization.