Hospital-Backed Venture Launched to Address Nationwide Nursing Shortage with Transformational Solution
MACON, Ga., July 13, 2018 /PRNewswire/ -- Navicent Health and Fitzroy Health today formally announced their joint venture, Flex Health, a workforce management company that focuses on reducing cost, increasing staff retention and improving quality of care by leveraging technology to more efficiently manage flexible labor pools.
Flex Health's proprietary float pool and contract labor management solution has been launched initially in five hospitals in Georgia and will expand to more facilities in the coming months. Flex Health's model is uniquely positioned to address hospitals' reliance on expensive contingent labor by incentivizing use of internal resources and reducing nursing vacancy rates, which often peak above 30 percent. With contract clinical staff costs significantly exceeding those of full-time employees, this amounts to an estimated $6 billion in additional spend each year across the United States.
"Our nation is currently experiencing a nursing shortage unlike anything we have seen in the past. As our population continues to age, more nurses will be required to provide skilled care. Together with our partners, we are taking bold and innovative steps to meet this demand," said Dr. Ninfa M. Saunders, President and CEO of Navicent Health. "We partnered with Fitzroy to create Flex Health to solve this problem." Dr. Saunders added. "During these shortages, a hospital's flexible workforce becomes a crucial component in delivering the highest standard of care to our patients. Many nurses, especially the younger generation, prioritize flexibility and career growth over the stability of a full-time position, and in times of intense competition for talent, hospitals need to find creative ways to meet their needs."
Flex Health offers hospitals management of and access to flexible nursing labor at a lower cost and without sacrificing continuity of care. The platform achieves this by linking flex pool nurses across geographies and connecting hospitals with flex pool labor able to fill their requirements. By seamlessly integrating with hospitals' existing workforce management software and financial/resource management systems Flex delivers a complete solution without the need to replace existing technology.
"We're excited to help hospitals deliver higher quality care without incurring unsustainable contract labor costs," said Greg Sanchez, CEO of Flex Health. "With Flex Health, we have not only created a solution for a critical need across the healthcare industry, but, through the partnership with Navicent Health and Fitzroy Health, built a model that works for both hospitals and nursing staff. This partnership and solution will be a game-changer for health systems across the country."
For more information, visit www.flex.health.
About Flex Health
Flex Health is a workforce management company focused on helping hospitals more efficiently manage their flexible labor. Flex Health uses innovative technology to positively impact labor costs, reduce employee turnover and improve quality of care. The company is a joint venture between Navicent Health and Fitzroy Health and is based in Macon, GA. www.flex.health.
About Fitzroy Health
Fitzroy Health partners with distinctive healthcare organizations to create commercial ventures that generate new sources of revenue and enterprise value. Through its unique model of risk sharing, Fitzroy Health supports all areas of commercial innovation, from sourcing and capacity building to commercialization and operation. Find out more at www.fitzroyhealth.com.
About Navicent Health
Navicent Health was incorporated on November 17, 1994, as a nonprofit corporation whose primary purpose is to coordinate The Medical Center, Navicent Health and other affiliated entities in their mission of providing a comprehensive continuum of high quality, reasonably priced healthcare services to the region. Navicent Health has 970 beds for medical, surgical, rehabilitation and hospice purposes. The health system includes The Medical Center, Navicent Health, a nationally recognized tertiary teaching hospital; Beverly Knight Olson Children's Hospital, Navicent Health, the region's only dedicated pediatric hospital; Navicent Health Baldwin and Medical Center of Peach County, Navicent Health, both rural hospitals; Rehabilitation Hospital, Navicent Health, the region's oldest and most experienced rehabilitation provider; Pine Pointe, Navicent Health, which provides palliative and hospice care in homes and in its facility; Carlyle Place, Navicent Health, the area's first continuing care retirement community; Navicent Health Foundation, the philanthropic arm of Navicent Health; as well as diagnostic and home care services. For more information, please visit www.navicenthealth.org.
SOURCE Flex Health
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