Proven Cost Savings
The BlueSky virtual vendor model was tested in a 7 hospital, 1600 bed system over a three year period. Here are the results:
- Reduced contract labor cost by over 50%, from 19.5 million, in 2005, to 9.2 million in 2007.
- Reduced vacancy rates by over 60%, from 11.4% to 4.30%.
- 73 full time employee caregivers were hired directly from the virtual vendor database of facility approved contract labor workers.
- All contract labor was plugged into the in-house time and attendance system, eliminating the paper system and decreasing time for labor expenses.
- Management obtained real-time access to contract labor reports for every unit in the system.
