The dynamics in the healthcare industry are driving organizations to reconsider their talent acquisition and workforce planning strategies. Healthcare professionals are facing new challenges: an ever-changing regulatory environment, the evolution of patient care, and fierce competition for talent. Plus the Affordable Care Act is expected to bring 32 million new patients to market, which both physician and nurse shortages are predicted due to retirement and not enough candidates for a growing need. These driving forces are set to shape the industry in an entirely new way.
Data is driving a new approach to healthcare benefits: accountable care organizations.
By Molly Loftus
With the new American Health Care Act now in the hands of the U.S. Senate, there’s no doubt that employers will play a major role in true healthcare reform. More than 70 percent of Americans receive health insurance through their jobs, so organizations must actively influence improvements in the quality and cost of care.
At this point in the evolution of employer-sponsored healthcare, reimbursement changes are very much a part of the conversation. Organizations are no longer passive consumers of insurance products; they expect their healthcare investment to yield better patient outcomes, more efficient care, and an improved member experience.
Three best practices to consider when incorporating online communication channels to recruiting practices.
By Christa Elliott
Today, talent shortages are a reality for many industry sectors, but healthcare has been hit particularly hard. The Bureau of Labor Statistics projects that by 2024, 439,000 new nursing jobs will be created. Likewise, 23 percent of the current nursing workforce is expected to reach retirement age by 2018, creating a projected 700,000 nursing vacancies. With experienced baby boomer healthcare workers retiring and fewer professionals to train the incoming millennial and Generation Z workers, organizations are eager for skilled labor. And because demand outweighs supply, healthcare organizations need to consider how they are marketing their brand and to do so on the proper talent channels.
Enter social media: The communication channels which, for over a decade, have promised better relationships with candidates, more exciting employer-branded experiences, and an expanded talent pool.
Predictive technology is driving both patient and nurse satisfaction up while pushing costs down.
By Jackie Larson
It’s no secret that the healthcare industry continues to face tumultuous times. On one hand, the demand for patient care services is surging, prompted largely by an improving economy and an aging U.S. population that requires more services. On the other hand, growing shortages of qualified nurses and other clinicians leave hospitals and healthcare organizations around the country struggling to fill vacancies.
This juxtaposition of factors—rising demand amid a supply-constrained labor market—makes the ability to efficiently manage the healthcare workforce essential to an organization’s success.
Few understand this better than the HR officers charged with hiring the appropriate number of clinicians to meet patient demand—a difficult task given that the volume of patients in a healthcare facility can fluctuate daily.
An aging population combined with a severe hiring shortage creates a challenging time in healthcare recruiting.
Looking for a career with wide employment availability? On the last day of business in 2016, there were 1.1 million job openings in the healthcare industry: the largest number recorded since the Bureau of Labor Statistics (BLS) started surveying the sector in 2006.The war for talent in the industry stems from several factors, including a fast-aging population that uses the healthcare system more frequently, the retirement of specialized medical professionals, and a growing demand for nurses outside the healthcare sector from businesses that offer highly competitive compensation and benefit packages. The Affordable Care Act—whatever its fate— and the recovery of the U.S. economy have also expanded public access to healthcare.
Carnival Group improved their employee experience by implementing a customized onsite clinic.
By Christa Elliott
It was Virgil who famously said “The greatest wealth is health,” and with the spike in employee health and wellness offerings it seems that many employers agree. One such employer is Carnival Cruise Line. The well-known cruise line took their wellness programs up a notch in May 2014, when they partnered with Marathon Health to open the Carnival Care Center: an onsite clinic and wellness center for employees at their Miami, Fla. Headquarters.“[The medical center] was an expression of Carnival’s commitment to wellness and really increasing the onsite offerings we have at Carnival.
Healthcare organizations are leveraging mobility strategies to help fill their talent gaps.
By Michael Krasman
There has been a lot of buzz about the growing shortage of physicians in the U.S.—in fact, a deficit of as many as 90,000 physicians is predicted in the next decade, according to the Association of American Medical Colleges.
This is an alarming development, especially given the unique recruiting challenges that the healthcare industry already faces. With demand steadily outpacing supply, this deficit poses a threat to recruiting and hiring initiatives for hospitals and healthcare providers across the nation.
These metrics are indicators not only of what’s to come but also of issues that need to be addressed sooner rather than later, including the rise of hospital vacancy rates for physicians, nurses, and staff.
“Texas healthcare facilities are dealing with a formidable deficit when it comes to the recruitment of emergency room physicians,” says Dr.
By Sharon Cunninghis
A perfect storm is brewing in the healthcare benefits market. Be prepared.
Employers are pivotal players in today’s healthcare system, but their role has remained remarkably passive. Yes, organizations absorb much of the cost of coverage, ensure that they are in compliance with the complicated requirements of the Affordable Care Act, and provide many of the tools their employees need as insurance consumers. However, a transformation is long overdue.
Regardless of the fate of the ACA under a new Republican administration, nearly two-thirds of all insured coverage in the U.S. is provided by employers, who collectively spend nearly $1 trillion annually on health benefits for their work forces. Benefit cost increases outpace overall inflation, and 14.2 percent of payroll is allocated to healthcare benefits, according to Mercer’s National Survey of Employer Sponsored Health Plans.
Healthcare is at the center of impending change. New tech-based entrants are adding more pressure to health plans, which are also facing consolidation pressures.
We know that the readers of HRO Today magazine turn to us as a go-to resource in the HR industry that delivers trends, insights, and the top resources for all of their HR operations and service needs. In our annual resource guide, we aim to showcase providers and product vendors across 18 sectors of HR services.
Here, you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration and multi-process HRO, not to mention a treasure trove of HR technology, consulting services, and other ancillary products.
We hope that our 2017 Resource Guide will serve you well as a starting point in your search for appropriate vendors.
A new study takes a closer look at how staffing impacts profitability in hospitals.
By the Editors
Earlier this year, HRO Today produced a report sponsored by Clinical Magnet called HR in the ER. The study explored the link between human resources and business outcomes in hospitals and health systems.
As a follow up, Clinical Magnet once again partnered HRO Today to take a closer look at staffing this time around. The research focused on staffing levels—one of the biggest costs of any medical center—to determine what profitable hospitals do differently compared to those struggling to maintain profitability. The results from study outline specific steps for success in achieving profitablity, and it should be noted that these steps are actually different for non-profit hospitals and for-profit hospitals
The full results of HR in the OR will be available in October, but here are some highlights:
Anyone working in a hospital or medical center should ask themselves this: Is staying profitable important to the hospital/medical center? Study findings consistently illustrate that those who focus on profitability in addition to patient care have different priorities than those who do not.
A trio of data-driven metrics healthcare organizations should consider for improved decision-making.
By Jackie Larson
Few conversations in healthcare today get very far before big data, analytics, or predictive modeling is brought up. Relative to workforce management, current key performance indicators (KPIs) that drive an organization’s planning include overtime, turnover, vacancy rate, and labor cost expense, among others. As healthcare evolves as a result of market and reimbursement realities, organizations must also evolve with regard to the data they can capture and how they use that information to make better decisions.
The use of predictive analytics, feeds from sophisticated electronic medical record and acuity systems, and scheduling tools that warehouse enormous amounts of data are enabling healthcare organizations to think about managing their workforce in an entirely new way. New metrics and approaches to measurement that are in some phase of the development process include: