Healthcare Provider’s Increasing Labor Costs and the Benefits of Targeted Outsourcing
According to Big Four auditing firm PriceWaterhouseCoopers (PwC) and government estimates, labor costs today account for the largest increase in spending by healthcare providers. PwC determined that paperwork for a typical medical patient adds a full 30-60 minutes to every hour of actual patient care. Given this figure, it comes as no surprise that total labor costs are projected to reach 38% of total healthcare spending. To put this into sharper perspective, compare this percentage to 3% for Pharmaceuticals, 5% for Technology and 1% for Construction. Read on…
