Initially of the month, these throughout the staffing and healthcare industries got here collectively in Houston, Texas, for Healthcare Staffing Summit, introduced by Staffing Trade Analysts (SIA). The convention featured dynamic discussions, thought-provoking keynotes, and dozens of breakout periods on probably the most urgent points in healthcare staffing.
Bullhorn was on the bottom throughout this 12 months’s summit to be taught from our business friends. Listed below are just a few key takeaways that you need to use to assist your healthcare staffing agency meet the second in 2023 and past.
The Healthcare Panorama
Within the wake of a historic pandemic, the business stays filled with uncertainty. Nurses should do extra with fewer sources and wrestle with being overworked and unable to supply adequate care. Healthcare amenities, too, face low income and monetary strain: within the closing keynote, Barry Asin, President of SIA, shared that 60% of hospitals are ending the 12 months with adverse margins. Moreover, healthcare is seeing an unprecedented expertise scarcity – the ratio of healthcare job openings to hires jumped from 1.67 to 2.4 in 2022.
These challenges aren’t specific to any particular space. Whether or not within the nursing or locums area, the healthcare business is clearly going through stiff headwinds. “When you concentrate on healthcare doctor scarcity areas right now, a fourth of our inhabitants is both denied healthcare or will get restricted healthcare right now,” mentioned James Taylor, group president and COO, AMNHealthcare.
Although the business is grappling with challenges, amenities and hospitals need to healthcare staffing as an answer. Companies have a chance right here not solely to develop however to make a distinction within the healthcare business at massive.
The Way forward for Healthcare Staffing
Even amidst the uncertainty of the present panorama, healthcare staffing appears to be like poised to proceed to develop. Although the Convention Board predicts a 96% probability of a recession within the subsequent 12 months, SIA tasks income for healthcare staffing to stay excessive, at about $50B for 2023.
Moreover, healthcare staffing corporations look to be on the radar of hospitals and healthcare amenities. Asin cited figures from SIA on this 12 months’s opening keynote that confirmed that 14 of the 20 fastest-growing non permanent staffing corporations are healthcare-focused. Healthcare staffing income has greater than doubled since 2020, with the biggest section being journey nursing, which grew by 5x.
Like the remainder of the staffing business, the unprecedented expertise scarcity means healthcare staff are within the driver’s seat. Healthcare staffing is seeing a willingness to embrace digital transformation as a way of empowering healthcare staff – who’ve a “ardour for compassion,” as Cross Nation Healthcare’s John Martins mentioned, and anticipate to be handled the identical approach. With expertise in management, it’s time for healthcare staffing to leverage digital instruments to satisfy expertise the place they’re.
How Companies Can Meet the Second
Healthcare staffing corporations have a novel alternative to embrace the business’s modifications and meet the second. Amidst these large shifts, the tradition of labor has modified, and healthcare is not any exception. Panelists typically spoke concerning the exponential development of healthcare staffing platforms, which give the management and self-service that nurses are on the lookout for. Employees can discover not solely jobs primarily based on levels and specialties however primarily based on location, time without work between jobs, and extra.
Moreover, in line with analysis from the 2022 NATHO SIA Journey Nurse Benchmark Examine, most journey nursing income during the last 12 months was generated by means of a VMS/MSP. If corporations wish to work inside this area, they want a VMS Sync product to deal with the sheer quantity of staff.
Nonetheless, merely having this tech in place isn’t sufficient. Companies want to ensure they’ve a technique – and a educated staff – in place to again up their tech stack. Merchandise like VMS Sync, credentialing and onboarding options, and expertise platforms are essential for effectively putting staff. Nonetheless, constructing relationships with staff and sustaining that human contact is irreplaceable.
Companies should additionally proceed forging relationships with stakeholders all through the healthcare area. “I actually hope the business has made some inroads within the relationships and belief with hospitals as a result of that’s going to be the idea of every little thing,” Liz Tonkin, CEO of MedPro Healthcare Staffing, mentioned. Now greater than ever, corporations have to spend time constructing belief inside their expertise communities, to allow them to proceed serving to healthcare staff do what they do greatest: offering top-notch care to their sufferers.
Need to remodel your expertise expertise and enterprise to scale your development? Be taught extra about Bullhorn’s healthcare staffing resolution.