Editor's note: This is Part 8 of a 12-part series focused on optimizing medical group financial performance. Each brief in this series takes 2 to 3 minutes to read and identifies specific actions medical groups can take to achieve sustainable financial improvements.
Assessment
A second opportunity for reducing staffing expenses is by managing staff pay rates per hour. The value of this opportunity is calculated by multiplying the difference between the actual average pay per hour and the benchmark pay per hour by the total number of labor hours.
