Post-acute and senior living care providers today are dealing with sweeping changes that are transforming the industry. Among many other challenges, providers face an aging population, the Affordable Care Act, and reduced reimbursement for the services and facilities they provide. EPAY Systems’ human capital management software for post-acute and senior living care settings can help providers navigate these rough waters to deliver quality care while minimizing compliance risks, cutting labors costs, and increasing workforce productivity.
Challenges with Human Capital Management in Nursing Homes
The post-acute and skilled nursing sector is currently in a state of change and uncertainty. A variety of factors are contributing to the challenge of staying afloat for post-acute and senior living care providers.
The Medicare Payment Advisory Commission (MedPac) has recommended no market basket increase for skilled nursing facilities (SNF) in 2018 and 2019. The overall SNF margin is only 1.6%. The Proposed Rule of the Centers for Medicare and Medicaid Services (CMS) is a meager 1% increase in Medicare payments, which is not sufficient to cover increasing costs. The current federal health care bill to repeal and replace the Affordable Care Act will eliminate per capita caps that were established under the Affordable Care Act, and will further reduce Medicaid reimbursement.
By 2025, it is predicted that the industry will need 2.5 million more workers. However, the economy is recovering and unemployment is down, which brings more competition and pressure to increase wages at a time when the skilled nursing sector cannot afford it. Providers need to accelerate recruitment and onboarding and look for ways to maximize workforce productivity and minimize costs.
Unnecessary overtime can account for a significant portion of labor costs in post-acute and senior living facilities. Our proactive scheduling system that allows providers to monitor staffing levels on a daily basis can help you manage scheduled (built into the schedule), incremental (employees punching in early and punching out late), and frictional (resulting from last minute call-offs) overtime.
Retaining employees is as important as attracting them, and possibly more so in today’s labor market. Rewarding good performance and maintaining open lines of communication can increase employee engagement and help drive retention. Our performance management software can help you nurture employee development and inspire a high-performance culture.
Workforce Management Solutions for Post-Acute and Senior Living Care Settings
The ability to evolve and put the right strategies and technology in place will be a crucial factor in weathering the challenges facing the skilled nursing facility services sector today.
EPAY Systems offers uniquely flexible, cloud-based workforce management software for post-acute and senior living care settings, along with human capital management solutions in one seamless platform to help you recruit, staff, manage, and pay your employees.
Real time visibility into your workforce allows you to track employee time, attendance, shifts, schedules, and hours worked. Streamlined payroll processing reduces prep time and errors, and cuts administrative costs with automated time sheets that integrate seamlessly with your HR, payroll, and ERP systems. Our software conforms to any labor environment to help you control costs, stay in compliance with labor laws, and optimize workforce management capabilities to get the most out of your employees.