The pandemic and its complex social and economic effects have dislocated the modern workforce. The problem is especially profound in healthcare, where nearly 1 in 5 workers quit their jobs during the pandemic and one-third of nurses plan to leave their current roles by the end of 2022.
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A nationwide shortage of healthcare workers made worse by the pandemic, and hospital and health systems’ increased reliance on contract labor, is driving expenses upward and contributing to steep declines in profit margins, according to a Special Workforce Edition of Kaufman Hall’s National Hospital Flash Report.
Ken Kaufman was interviewed on the podcast “Disrupting Privilege: Conversations on Race and Health.” Ken discussed the leadership necessary for true progress in health equity, drawing lessons from how retiring Tampa Bay Buccaneers head coach Bruce Arians developed a succession plan for diversity.
A new metric tracking the number of observation days as a percentage of total days will help hospitals determine if patients are being appropriately assigned to observation status.
Andrew Philippi is a Vice President in Kaufman Hall’s Strategic and Financial Planning practice. His areas of expertise include financial modeling, operations finance, valuation, financial and operational benchmarking, and mergers and acquisitions.
Empathy can play a powerful role in building a common culture within a newly combined organization.
For more than a decade, hospitals, payers, and other healthcare stakeholders have experimented with moving healthcare payment from fee-for-service, volume-based contracts to arrangements that reward providers for the value of the care they provide.
Hospitals and health systems are feeling the full effects of the Great Resignation as labor expenses climb despite lower staffing levels. As a result, hospitals are paying higher wages to compete for qualified personnel. Read the Winter 2022 Kaufman Hall Report for strategies for improving recruitment and retention.
U.S. physician practices ended 2021 with sizeable gains in physician productivity and revenues relative to late 2020 performance, but mounting expenses and high levels of investments/subsidies required to support practice operations continue to be areas of concern.
To mitigate the impact of labor shortages, health systems must ensure they can move nimbly in hiring qualified staff while doubling down on their employee retention strategies.
In my conversations with senior executives at healthcare organizations around the country, I find that leaders have three critical topics on their minds: workforce, workforce, and...
Read the Fall 2021 Kaufman Hall Report for highlights from the HLC 2021 conference and key findings from the 2021 Healthcare Consumerism Survey.