4 Recruitment Challenges Facing Healthcare Providers
Running a medical practice can be fraught with challenges. Managing patients. Being responsible for the management of an office/clinic. Dealing with financials. Last but not least is managing your employees, and when necessary, staff recruitment. Today we examine four issues facing practice owners on the staffing side of running a medical facility.
Healthcare staff turnover has become significant
According to a recent study by Compdata, employee turnover in healthcare has crested 19%, and by all indications that number is only likely to accelerate. Training new staff can be time-consuming and cumbersome and results in lost productivity that will affect patient experience and efficiency. It can also lead to higher patient caseloads, with even farther-reaching consequences. A study released a number of years ago by the National Institute of Nursing Research concluded that higher patient caseloads contributed to a 7% increase in the chances of patient death.
Fewer healthcare professionals to fill vacant jobs
The Association of American Medical Colleges forecasts a shortage of at least 40,800 physicians by the year 2030, with estimates that it could actually clear 100,000 by that timeframe. What this means is that hiring new doctors will become increasingly difficult for medical practice owners, not to mention difficulties in hiring qualified nurses, who are experiencing their own shortages already. Without a doubt, technology and innovation can find effective solutions to somewhat counter-balance these trends, but a smaller pool of applicants will mean higher wages and difficulty in competing for the best candidates.
Rural areas feeling a greater pinch
Delivering healthcare in rural America has already become a challenge. Finding enough skilled and qualified workers is yet another. According to Recruiter.com, it can take more than a year to fill healthcare positions in rural America, exacerbating the issues outlined above. Delays in hiring can not only have a direct negative impact on the patient experience but also create dangerous shortages in available healthcare services for these vulnerable communities. Employee retention is even more important in these areas to ensure operations can run smoothly and without costly interruptions.
Financial constraints hindering growth
While your practice may be struggling to scale given current staffing levels, expanding your clinical team requires an upfront outlay of capital that may precede increases in revenue. When choosing the right financing for you, flexibility and terms are critical. If your practice needs working capital to grow, Aquina’s Praxis can help. With repayment terms unlike anything else in the industry, we provide the working capital you need to grow and fund your business responsibly. Contact us today to find out how we can help.