1vacancy cost

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1vacancy cost

  1. 1. Cath Lab Vacancy CostAssumptions based onprojection of 6 mos vacancyWhat can happen with Lack of LeadershipOr:
  2. 2. Consider this Cath Lab Scenario• Staff production has been high with low turnover• Expenses to Revenues has been very positive• Physician and Patient satisfaction has been positive• New strategic initiatives are well underway…….THENThe KEY DRIVER of the positiveoutcomes, THE LEADER IN THE CATHLAB…decides to make a move…..WHAT CAN IT COST????????......here’s apossible scenario….
  3. 3. Assumesper diemsalaryhousing costsof $25,000 each monthsource: survey of current interim directors
  4. 4. Assumes 8 hours per week totalstaff overtime based on:Staff Overtime1 .5 x hourly rateSource: http://www.springboardstaffing.com/cath_lab_survey.php
  5. 5. $5,484$14,992$5,119$1,097$9,873$0$2,000$4,000$6,000$8,000$10,000$12,000$14,000$16,000Source:http://www.rwjf.org/content/dam/files/legacy-files/article-files/2/revlewinevalrnturnover.pdf
  6. 6. Assumption that due to lack of high-levelleadership: 10% loss of margins.To arrive at the cost: a. Avg Cath LabVol 40 cases/week. Margin per case:$1400 (Loss of 10% per week )
  7. 7. InterimDirector$150KStaff O/TCosts$27KRecruit forRN$37KSupplyLoss$4KTotal Costs May Reach:Other possible loss includes:1.Regression of career development program2. Positions that go unfilled3. Defection of Cardiologist based on vacancy4. Positive programs and initiatives go unfinished
  8. 8. Solutions?Result – Program starts to sink at faster rateResult –Possible inefficiencies which increasevacancy time and expensesResult—Uncover talent base quicker, reducingoverall expenses and other losses

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