Healthcare Data Analytics: Methods Of Matching Scarce Resources With Uncertain Patient Demand

$249.00$255.00

$249.00
$251.00
$254.00
$255.00

Workforce management significantly impacts the cost efficiency and quality of care. Workforce cost typically absorbs more than 50% of total hospital’s operating revenue. An accurate assessment of the required staffing that best matches the highly variable patient demand is an integral part of the hospital’s budgeting and planning process. Healthcare administrators must accomplish multiple clinical and quality goals while simultaneously developing realistic staffing plans and budgets. Random fluctuations of the daily patient demand (census) make the staffing planning a big challenge to many hospitals’ administrators.

Typically, nursing staffing is based on the past historical average daily patient demand (midnight census), and the average required daily hours of care per patient depending on the acuity level (supply of resources). However, the variation and the uncertainty of the supply and demand in healthcare settings creates two types of problems:

  • Over-staffing over the planned level which hurts operation margins
  • Under-staffing over the planned level, which requires overtime and/or premium pay that also hurts margins and causes lower quality of care. The latter problem affects patients’ and staff satisfaction.

The objective of this webinar is providing an overview and examples of application of the methodology called the “newsvendor” framework. This methodology helps to determine the optimal staffing for the specified time periods for hospital units with randomly fluctuating patient census. The optimal staffing provides the total minimal possible cost of over- and under-staffing.

Learning Outcomes:
  • Overview and examples of application of the methodology called the “newsvendor” framework
  • Why and when to use the ‘newsvendor framework’ in healthcare settings
  • Historic background of the ‘newsvendor’ framework methodology
  • How the ‘newsvendor’ methodology was used in major hospitals settings
  • What are assumptions and limitations of the ‘newsvendor’ framework
  • Comparison of the 3 methodology frameworks for modelling staffing with variable patient demand
Areas Covered in the Session:
  • Main Concept and Some Definitions
  • The “newsvendor” framework approach
    • Optimized annual staffing level
    • Optimized monthly staffing level
    • Optimized staffing for caregivers’ skills mix
  • Comparison of the 3 methodology frameworks for modelling staffing with variable patient demand
  • Live Q&A session
Recommended participants:
  • Healthcare CEOs
  • Healthcare COOs
  • Healthcare IT officers
  • Hospital quality analysts
  • Nursing managers
  • Chief Nursing Officers
  • Compliance Officers
  • Privacy and Security Officers
  • Directors and VP of quality and operations improvements of healthcare organizations
Presenter Biography:

Alexander Kolker is an expert in advanced data analytics for operations management, computer simulation and staffing optimization with the main focus on healthcare applications. Alexander is the lead editor and author of 2 books, 8 book chapters, 10 journal papers, and a speaker at 18 international conferences & webinars in the area of operations management and data analytics. He worked 12 years for GE (General Electric) Healthcare as a Data Scientist and CT Detector design engineer, 3 years for Froedtert Hospital, the largest healthcare facility in Southern state of Wisconsin, and 5 years for Children’s Hospital of Wisconsin as a lead computer simulation and system improvement consultant.

As an adjunct faculty at the UW-Milwaukee Lubar School of Business, he developed and taught a graduate course Business 755-Healthcare Delivery Systems-Data Analytics. He was also teaching a 12-sessions online course “Healthcare Operations Research and Management Science” for the UK, National Health System (NHS), Midland & Lancashire Support Unit.

Additional Information:

After registration, You will receive an email with login information and handouts (presentation slides) that you can print and share with all participants at your location.

System Requirement:
  • Internet Speed: Preferably above 1 MBPS
  • Headset: Any decent headset and microphone which can be used to talk and hear clearly
Can’t Listen Live?

No problem. You can get access to an On-Demand webinar. Use it as a training tool at your convenience. For more information, you can reach out to the below contact:
Toll-Free No: +1 800-757-9502
Email: cs@waymoreeducation.com