Taking a break from who is hiring and who was hired, we rounded up some reading on the state of the healthcare workforce. Like many things in our lives for the past two years the pandemic has taken a toll on it. The healthcare workforce might be on the top of the list of disruption. With 18% of healthcare workers having left their jobs and another 12% being laid off, what are the solutions for healthcare as a whole? You can’t open a paper, magazine, or watch news and not hear about the crisis that has evolved. This week we are focusing on healthcare reports and studies that talk about jobs, salaries, and compensation.
Reports and Studies
Health Workforce Data, Tools, and Dashboards
HRSA (@HRSAgov) provides the public with extensive and easy-to-access data on Health Workforce programs, from dashboards on loan and scholarship awards to downloadable data on grant funding for health professions training programs. Our health workforce programs improve the health of people who need it most. We strengthen the health workforce and connect skilled health care providers to communities in need. Learn more about our Health Workforce programs.
Report: Post-Acute Care Industry to Have $19.5BN in Unrealized Revenue in 2022 From Reduced Staffing
IntelyCare (@IntelyCare), a tech-enabled nurse staffing platform for healthcare organizations in the United States, announced the results of a commissioned study aimed at understanding the financial impact that the nurse staffing crisis is having on post-acute care facilities. Conducted by global management consulting leader Oliver Wyman, the study reveals that because of lower occupancy rates (down 14% since 2020) due to understaffing, the post-acute care industry is estimated to have $19.5BN in unrealized revenue by the end of 2022. With many facilities desperate to improve staffing levels to increase occupancy and drive positive profit margins, the study also provides a comparative assessment of nursing labor costs, finding that a full-time nursing employee can cost a facility up to 33% more on an hourly basis than an equivalent contingent worker.
National Nursing Workforce Survey Calls For Change as Non-Negotiable
A lack of action to better support our nation’s nurses amid a global pandemic could exacerbate the current staffing crisis, according to new research published by Wolters Kluwer (@Wolters_Kluwer) in partnership with UKG. “Nursing’s Wake-up Call: Change is Now Non-Negotiable” assesses current and future states of nursing labor models, offering a snapshot of how nurse staffing and care delivery models have evolved to address the profound challenges brought on by COVID-19 and an intensifying labor shortage. The survey of more than 300 nurse leaders in the United States was conducted in late 2021 and sheds light on opportunities for change across care settings to correct course and ensure the best care for patients.
Unprecedented Caregiver Fatigue in America
Seniorly (@Seniorly) released a study on Caregiver Fatigue in America using the most recent data from the Census Bureau, CDC, WHO and the Genworth Cost of Care Study. The new study shows a record 42 million Americans are serving as family caregivers and spending an average of 26% of household income taking care of loved ones. Caring for family members has always been difficult. Since COVID-19, it has gotten exponentially harder with people caring for seniors and children while many work full-time.
Focus on Recent Nursing Study
IntelyCare (@IntelyCare), a tech-enabled nurse staffing platform for healthcare organizations in the United States, released the first major study analyzing the demonstrable impact gig work and technology are having on nursing professionals. The study, which aggregates findings from surveys conducted by Reputation Leaders and Oliver Wyman, found that more nurses and nursing assistants are seeking flexibility in their work lives and that those who have adopted gig working apps are more likely to feel that they are thriving in their careers. Nurses working in a per diem capacity are also less likely to leave their current role (13%) compared to those who are not (30%), according to the findings.
Mercer
Demand for healthcare workers will outpace supply by 2025 – The healthcare industry is changing, fast. New technologies are transforming how healthcare is delivered. New competition is changing where healthcare is delivered. And new reimbursement models are changing how healthcare is paid for and how healthcare systems manage costs. These changes, combined with demographic trends and regulatory uncertainties, are transforming the future of the healthcare workforce. For executives at hospitals and healthcare systems, it’s important to know exactly how these changes will impact their business. Mercer’s (@mercer) latest analysis of projected healthcare workforce supply and demand across the United States will help hospitals and health systems identify the critical occupation gaps that they need to prepare for and potential opportunities for new recruitment grounds they might not be aware of.
Salaries and Compensation
Relias
2022 Nurse Salary Research Report – Ensure you are developing a recruitment and retention program that is tailored to your staff’s needs and wants. The Relias (@relias) 2022 Nurse Salary Research Report provides industry insights and current data for healthcare leaders, recruiters, and hiring managers in order to enhance recruitment and retention methods for highly engaged staff.
Nurse.com
Nurse.com Nurse Salary Research Report – Get the salary you’re worth. Get the salary you deserve. Nurse.com conducted extensive, unbiased research to create this free research report, which can help you understand your nurse salary potential to better assess where you are and where you might want to go. Download the free report today.
Weatherby Healthcare (@WeatherbyHealth)
Physician salary report 2022: Physician income rising again – In its latest physician salary report, Medscape surveyed 13,000 physicians in 29 specialties to detail how physician compensation changed in 2021. The new survey revealed that physician income is back on the rise, after stagnating in 2020 due to impacts from the COVID-19 pandemic.
US News & World Report (@usnews)
Best Health Care Jobs – We’re always striving for better health, and the people who hold some of the jobs on our 2022 Best Health Care Jobs list can help you breathe, eat, walk, speak, hear, move and see better. They can also help patients prevent disease, illness and injury, as well as diagnose, fight and treat illness. Many of the highest-paying jobs are among the Best Health Care Jobs. Dentist, physician assistant, orthodontist and nurse practitioner are among the jobs on this list. For more information on how we rank, read the Best Jobs Methodology.
Physicians Thrive
The Free Physicians Thrive 2022 Physician Compensation Report – Physicians’ salaries vary by region, specialty, gender, and a variety of other factors. From year to year, we see increases in certain regions, increases in salary for certain specialties, and increasing bonuses in areas where the demand for physicians is the highest. We’ve broken down the compensation trends for physicians by specialty, region, gender, and by bonus incentives to provide insight into where salaries are increasing and where they’re decreasing.
Weatherby Healthcare (@WeatherbyHealth)
Emergency medicine physician salaries 2022: Income growth returns – Emergency medicine physician salaries grew by 5% on average in 2021, according to Medscape’s 2022 Emergency Medicine Physician Compensation Report. This is a big jump up after 2020’s decline of 1%. However, some emergency medicine physicians are still suffering from the financial impacts of the pandemic and supplementing their income through other means. Even so, a majority of EM docs say they are happy both with their medical career and their choice of specialty.
Healthcare Management Degree Guide
20 Highest Paid Non-Physician Jobs in Healthcare – You don’t need to be a physician to have a high paying job in the healthcare field. Non-physicians fill some of the highest paid jobs in the healthcare industry! With the dramatic rise in the need for healthcare administrators, physician assistants, genetic counselors, and others, higher and higher salaries are being paid to these healthcare professionals. These positions are part of a healthcare team focused on overall wellness and disease treatment and prevention. This article explores the 20 highest paid non-physician jobs in healthcare, according to the 2018 edition of the United States Bureau of Labor Statistics Occupational Handbook.
2022 Outlook for Provider Compensation Management: Embracing New Compensation Models & Technology
In a new report released recently, Hallmark Health Care Solutions explores what healthcare organizations need to do in 2022 to overcome intensifying obstacles in service, care, and physician/provider compensation models. The 2022 Outlook for Provider Compensation Management assesses current market forces and challenges related to physician and provider compensation models that will impact healthcare organizations this year. It also outlines several steps provider organizations need to take to set the stage for success in 2022 and beyond.
To Read
How 3 health systems are navigating the workforce crisis – From Advisory Board (@AdvisoryBd) – As the health care industry struggles with growing workforce shortages, three health systems share the innovative ways they are recruiting and retaining their workers, Carol Davis writes for HealthLeaders Media. How to fix the clinician workforce. (Hint: ‘It won’t be cheap.’) Since the beginning of the pandemic, burnout and mental health challenges have added to critical staffing shortages in the health care industry. In fact, a 2021 survey from the Kaiser Family Foundation and the Washington Post found that nearly 30% of health care workers are considering leaving their jobs.