Between a tightening labor market and an aging population, it may seem like there are simply not enough clinicians to go around. Labor costs now account for 60% of an average hospital's total budget, highlighting the need to control labor expenses. But for many hospital administrators, a reduction in total labor costs can seem like an insurmountable feat. And with many hospitals lacking standardized labor cost data, many hospital administrators are unable to pinpoint to the exact reasons why they are overspending.
Consider the fact that, according to Forbes, high performers are as much as 800% more productive than their colleagues. And they cost the same as any other employee.
However, filling all your positions with highly-skilled medical professionals is especially difficult in a tight labor market. That makes it crucial to retain the high performers you have.
Being short-staffed puts extra stress on everybody: Wait times increase while responsiveness and communication decrease. This negatively impacts patient satisfaction and ultimately the practice’s bottom line.
Topics: Interview/Hiring Tips
Patient satisfaction is inextricably linked to the financial stability of a healthcare organization. Patients have learned that they have choices in selecting their providers and have developed a low tolerance for service that does not meet their expectations.
Across all types of healthcare organizations, clinician vacancies have both direct and indirect costs. For hospitals and medical practices, physician vacancies can impact a variety of areas, including revenue, patient experience, quality of care and more. In this post, we will explore all the direct and indirect costs of these vacancies in depth.
Not a moment too soon, optimizing the patient experience has become a top priority for many healthcare providers across the nation. As medical practices focus on providing patients with the proper level of support, the providers improve outcomes across the board.
One of the most difficult tasks hospitals and other healthcare facilities face is staff management. Proper staffing is essential to ensure that the hospital operates smoothly and that all patients have a positive experience. Because staffing can be so complex and involves so many diverse challenges, many facilities struggle to find an efficient and effective way to manage contingency staff, provide continuity of care, maintain a positive patient experience and drive bottom-line growth. In this article, we discuss two types of staffing technologies that can help with these tasks: VMS and MSP. Most healthcare facilities will find that one or both of these solutions reduce problems with contingency staff management.
Thanks to a variety of advanced technologies, today's organizations in all industries have access to data that can help them make informed business decisions designed to drive growth.
Cold and flu season puts a strain on every organization that requires staff in order to operate. Hospital and healthcare facilities feel this strain more than most. Sick healthcare workers are not only less efficient than well ones, but can also put vulnerable patients at risk.
Hospitals and other healthcare facilities face a variety of staffing challenges. As a result of an ongoing physician shortage, the market for the best talent has become increasingly more competitive. Other staffing challenges include difficulty in filling job vacancies, expansions, and mergers. Staffing challenges may impact healthcare facilities in many different ways, leading to lost revenue, a higher workload for existing staff members, poor patient experiences and more. Below are some strategies that hospitals and other healthcare facilities can use to overcome staffing challenges and boost profitability.
Your healthcare facility, physicians, and patients all rely on the establishment of a workforce optimization strategy.
Through this planning process, it is possible to ensure you always have optimal staff numbers needed to run your facility and care for your patients.
If you fail to pay attention to the workforce needs of your healthcare system, your daily operations could grind to a halt. Once that happens, many repercussions could arise, threatening the health of your high-performance organization.
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At VISTA we’re dedicated to being our clients’ strategic workforce optimization partner. With our deep industry expertise and exclusive locums MSP technology, we help health systems, hospitals, practices and government entities build and sustain effective workforce models that ensure patient access to care and organizational stability. Covering more than 60 specialties, we staff physicians, nurse practitioners and physician assistants to help our clients preserve revenue and maintain profitability.