Experiencing a “new normal” in the wake of the pandemic, Henry Mayo Newhall Memorial Hospital, a 357-bed, not-for-profit community hospital and trauma center, faced challenges when manually managing and setting shift rates.
Henry Mayo Newhall Memorial Hospital, a 357-bed, not-for-profit community hospital and trauma center located in Valencia, California, had been managing healthcare staffing shortages since before the COVID-19 pandemic. Similar to many hospitals across the country, Henry Mayo lacked a centralized technology platform that connected them to local healthcare professionals who were not directly employed by Henry Mayo. In February 2020, they began working with CareRev to help fill more shifts with flexible, pre-qualified healthcare professionals.
Then the pandemic hit, exacerbating staffing challenges and driving rates higher for shift work. As a result, Henry Mayo faced more difficulties in setting and maintaining shift rates manually. The hospital employed CareRev’s Smart Rates AI-driven technology
to adapt to the changing environment.
CareRev’s Smart Rates feature uses an artificial intelligence (AI) algorithm to recommend hourly shift rates based on market demand and past performance.
By employing Smart Rates, Henry Mayo was able to keep pace with competitive shift rates over time. The algorithm learned Henry Mayo’s posting and pricing habits – including the differences in rates on different days of the week, on holidays, and in different hospital departments – and can now adjust the shift price automatically in increments of 5%. If a needed shift isn’t getting filled, staffing managers can manually adjust the listing to offer an increased rate.
Ultimately, Smart Rates has helped the hospital deploy cost-effective workforce management
while promoting patient safety with safe staffing ratios. This innovative technology has also helped to increase the rate of filled shifts.
Since Henry Mayo began using CareRev’s Smart Rates healthcare AI technology in October of 2022, the hospital has seen improvements in their operations and a noticeable decrease in labor costs. The facility now fills 57% more shifts while lowering the bill rate by 7%. By opting into Smart Rates, the staffing managers at Henry Mayo fill shifts 45% faster – streamlining operations and allowing them to focus on other, more urgent needs. Smart Rates benefits both the healthcare facilities and professionals, generating a fair price for each shift with a 6% higher return.
By opting into Smart Rates, the staffing managers at Henry Mayo
fill shifts 45% faster.
As healthcare systems continue to adjust to staffing shortages caused by COVID-19 and fluctuating patient demand, Smart Rates takes the guesswork out of staffing operations for hospitals like Henry Mayo, helping facilities to mitigate costs and improve staffing management.Download the full case study