Increasing productivity at a hospital is no small undertaking - especially given the current physician shortage impacting the healthcare industry. If there are too few clinicians available to treat patients, morale sinks, which negatively impacts productivity. But if the supply of clinicians exceeds demand, the resulting inefficiency can erode already-thin profit margins.
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.
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.
5 Questions You Need to Ask…
Recruiting provider talent remains a huge challenge for healthcare systems, both large and small. The recruitment process can be laborious: reviewing CVs, coordinating interviews and site visits for candidates, and negotiating contracts and salaries are time consuming, often leaving departments short-staffed and disrupting revenue streams. That's why more and more healthcare groups are partnering with staffing companies, which can provide provider coverage in the interim, allowing recruiters the time to find the right providers for their organization.
Here's what you need to consider:
Misinformation continues to surround use of the Q6 modifier, or the billing for services provided by a locum tenens physician. This can result in mistakes that prove costly or even detrimental to practices, as they may result in audits or further disciplinary action.
The Q6 modifier is intended to be a tool that practices can use when a physician is away for an extended period of time, therefore requiring temporary coverage by a locum tenens. It covers Part B fees, or medical claims related to the professional service provided, which are billed using the existing physician’s NPI number and the Q6 modifier.
To prevent abuse, there are stringent rules in place surrounding the conditions for using this modifier. When it is used, the surrounding circumstances must be well-documented. Carefully review the details associated with when and how to use the Q6 modifier to ensure that you remain compliant.
According to the Association of American Medical Colleges, the median medical school debt is $195,000, and nearly 46% of medical school graduates plan to enter a loan forgiveness program. Not surprising, many physicians struggle with the costs of education, and those with extreme student debt can expect to pay more than $2,000 each month for nearly 10 years.
Fortunately, there’s help for physicians inundated by student loans. In-house physician recruiters - like those in the Association for Advancing Physician and Provider Recruitment (AAPPR) - are positioned to help physicians navigate the options for managing their debt and relieve some of the burden.
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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.