Laudio, a healthcare staff relationship management platform, has been launched nationwide to solve the industry’s pervasive burnout problem. Developed by Boston-based healthcare IT entrepreneurs, Laudio uses artificial intelligence to predict and prevent staff burnout, through more frequent, timely, and relevant manager interactions.
This new software-as-a-service solution reduces turnover rates, which saves even a medium-sized acute care facility millions of dollars on annual replacement costs.
In an era defined by cost reduction strategies, managing staff burnout, or churn, has become a top priority for all health systems. This priority is perhaps most critical for nurses, one of the largest segments of the hospital workforce. The average nursing staff turnover rate is 16%, per year, with the cost of replacing one nurse averaging $66,000. As a result, the average hospital is forced to spend $5M-$10M annually on nursing turnover, alone. This expense is even greater when extended to all health system staff, beyond nursing.
Laudio aggregates data imported from the health system’s data sources. Using research-based benchmarks, Laudio’s algorithms calculate turnover risk for each staff then continually generate data-driven observations. Laudio becomes the manager’s unified digital workflow by eliminating the manager’s need for multiple software logins, paper-based notes, and time-consuming work-arounds, while allowing them to collaborate with colleagues.
