Healthcare

It’s no secret that the healthcare industry is facing a hiring crisis. An aging population has increased demand for health services, while the supply of healthcare workers is in decline or leveling off. Amid these challenges, healthcare recruiters are struggling to find quality candidates.

Employee turnover comes at a high cost, especially in healthcare. In 2017, turnovers in nurse staffing cost the average hospital between $4.4 million and $7 million. And the research shows that turnover is more of a risk when dealing with new hires. In 2018, more than 32 percent of new hires lasted less than one year. 

Many states are anticipating severe nursing shortages in the next few years, with some states projected to have nurse employee deficits of more than 10,000. As the patient population ages and increases, appropriate staffing poses a problem for healthcare HR teams.

Healthcare providers, organizations, and facilities may find it challenging to meet patients’ changing expectations. However, they should not ignore the enormous influence that expectations can have on the patient experience.

Research has suggested that patient expectations can influence their satisfaction with their care and their perceptions of their own health. The more that healthcare providers and organizations can address patient expectations, the more likely they are to earn and keep their patients’ trust.

Some of the biggest lawsuits of 2019 involved massive opioid distribution companies. Multiple pharmaceutical companies are set to pay out hundreds of millions of dollars in damages to the states most affected by the opioid crisis.

All healthcare providers are powered by their belief in access to quality care for all. But even as technology brings us closer together, many patients continue to face insurmountable barriers such as high costs and lack of available care.

As we head into 2020, what other challenges face healthcare, and what steps can we take to overcome them? Luckily cultural changes and the continued integration of technology can lay some of the groundwork for transformation.

Over the course of the year, I attended a number of conferences. This year has been no exception. One event, in particular, had a number of senior executives in finance and healthcare in attendance. I was fascinated by the conversations, candid discussions, and learning that happened among peers. One of the most interesting (and frequent) topics of conversation was on background checks for workers.

Healthcare has been trending toward standardized care, but the thought is often met with skepticism and concern regarding “cookbook medicine.” “When care standardization first started in the '90s there was a great deal of resistance,” says Dr. Kate Tulenko, CEO of Corvus Health.

Today’s workforce is more age-diverse than ever before. Age is often the forgotten demographic, but maintaining workforce diversity means hiring multi-generational employees.

As in every industry these days, healthcare organizations are being touched by the influence of artificial intelligence. In fact, AI is projected to become a $190 billion industry by 2025. So what are some of the changes we can expect to see, and what steps can healthcare HR teams take to prepare?