Just Released: Hallmark Health Care Solutions’ Summer 2022 Labor Rate Report
The Summer 2022 Rate Summary Report from Hallmark Health Care Solutions provides visibility into real-time, market-driven agency bill rates for any U.S. state.
HAUPPAUGE, N.Y. (September 13, 2022) – With U.S. health systems now sharing their second quarter earnings reports, it is clear that high labor costs continue to strain the budgets and margins of healthcare organizations across the country. In recent weeks, Mayo Clinic, Advocate Aurora Health, and Cleveland Clinic respectively reported 7 percent, 12.3 percent, and 15.1 percent increases in labor-related expenses.
To help hospitals and health systems of all sizes assess their current bill rates for contracted labor, Hallmark Health Care Solutions (HHCS) has just released the summer edition of its semi-annual, state-by-state bill rate data analysis. This free report is available for download here.
With July-August data from a diverse panel of approximately 200 healthcare staffing agencies in all 50 states, Hallmark Health Care Solutions’ rate summary report aggregates the most up-to-date bill rate information and market feedback for nursing, allied health, and non-clinical contracted labor, as well as locum and interim leadership positions.
“Knowledge is power, and this report offers healthcare organizations a direct line of sight into the average rates that agencies and managed service providers are charging,” says William Reau, Principal and Chief Operating Officer at HHCS. “As we see hospitals and health systems continue to struggle with sky-high labor costs, we are happy to provide this free and reliable resource to help them avoid overpaying for contract labor.”
While the report equips healthcare organizations with actionable information to negotiate adjusted rates if warranted, Reau says the greatest opportunities for sustained savings come from modernized, tech-enabled workforce strategies and staffing operations.
“To hire more and contract less, organizations should insource labor management and create their own internal agencies with smart technology,” he says. “An ever-growing number of hospitals and health systems are using our Einstein II platform to achieve great savings on staffing and success in recruitment.”
In other words, for long-term solutions that reverse today’s extreme imbalance between labor demand and supply, healthcare organizations must address root causes. Smart technology has the power to drive flexible employment models that convert traveling nurses and contract staff to internal resources, while also optimizing all aspects of labor and vendor management when contingent labor is needed.
For more information, download the Summer Rate Summary Report or visit www.einsteinii.com.
About Hallmark Health Care Solutions, Inc.
Hallmark Health Care Solutions, Inc. (HHCS) is a healthcare technology firm headquartered in New York. Each of our experienced executive team members brings an average of 20+ years in IT, nursing, process engineering, finance, and healthcare. HHCS is ranked No. 318 in the 2021 Inc. 5000 List of Fastest Growing Private Companies in the U.S. The company’s simply intelligent provider and workforce solutions are used by over 100,000 healthcare professionals in more than 4,000 healthcare facilities across all 50 states. In the past decade, we have collectively delivered over $250 million in cost savings and revenue gains to our clients and calculated nearly $5 billion in physician compensation, thanks to our best-in-class workforce and compensation management technologies.
HHCS workforce solutions include Einstein II, a workforce sourcing, deployment and vendor management solution, and Heisenberg II, a physician compensation and contract management solution. For more information, visit www.einsteinii.com and www.heisenberg.com.
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