The document discusses the potential costs of a vacancy in a cath lab leadership position. It estimates costs of: - Hiring an interim director at $150,000 for 6 months - Overtime costs for staff of $27,000 - Recruitment and hiring costs for a new RN of $37,000 - Supply costs of $4,000 due to lower margins The total estimated cost is over $218,000. It also notes potential additional costs like loss of development programs, unfilled positions, loss of cardiologists, and stalled initiatives if the vacancy lasts longer than estimated.

1. Cath Lab Vacancy Cost
Assumptions based on
projection of 6 mos vacancy
What can happen with Lack of Leadership
Or:

2. Consider this Cath Lab Scenario
• Staff production has been high with low turnover
• Expenses to Revenues has been very positive
• Physician and Patient satisfaction has been positive
• New strategic initiatives are well underway…….
THEN
The KEY DRIVER of the positive
outcomes, THE LEADER IN THE CATH
LAB…decides to make a move…..
WHAT CAN IT COST????????......here’s a
possible scenario….

3. Assumes
per diem
salary
housing costs
of $25,000 each month
source: survey of current interim directors

4. Assumes 8 hours per week total
staff overtime based on:
Staff Overtime
1 .5 x hourly rate
Source: http://www.springboardstaffing.com/cath_lab_survey.php

5. $5,484
$14,992
$5,119
$1,097
$9,873
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
Source:
http://www.rwjf.org/content/dam/files/legacy-files/article-files/2/revlewinevalrnturnover.pdf

6. Assumption that due to lack of high-level
leadership: 10% loss of margins.
To arrive at the cost: a. Avg Cath Lab
Vol 40 cases/week. Margin per case:
$1400 (Loss of 10% per week )

7. Interim
Director
$150K
Staff O/T
Costs
$27K
Recruit for
RN
$37K
Supply
Loss
$4K
Total Costs May Reach:
Other possible loss includes:
1.Regression of career development program
2. Positions that go unfilled
3. Defection of Cardiologist based on vacancy
4. Positive programs and initiatives go unfinished

8. Solutions?
Result – Program starts to sink at faster rate
Result –Possible inefficiencies which increase
vacancy time and expenses
Result—Uncover talent base quicker, reducing
overall expenses and other losses