Dec 20, 2022

Health Execs Keys to Success, Avoid Nurse Strikes and Loan Payoffs

ARTICLE TOPICS

 

This month we review valuable advice from healthcare executives, insights to help your organization avoid nursing strikes, and the impact of medical debt on healthcare organizations.

Staffing, culture + wellness are keys to success

100+ healthcare executives agree that staffing solutions, culture changes and personal wellness are among the top areas of focus to yield positive results for their organization. We also touched on these topics in our interview with Adena Health (a 2022 ‘most loved workplace’). 

Takeaway: What initiatives do you have in place to make cultural shifts that focus on provider, staff and patient satisfaction and well-being?

More pay, more help

The two things that nurses are asking for: pay raises and addressing understaffing issues. This was proven yet again earlier this month when a strike with nurses in Twin Cities and Twin Ports, Minnesota was narrowly avoided. We’ll say it again for the people in the back: change the way providers are valued, motivated and rewarded.

Takeaway: When was the last time you polled the team? Do they feel understaffed and underpaid?

Loan payoffs = increased provider satisfaction?

Roughly one in four medical graduates exits medical school with $200,000 in student loan debt, (emergency medicine and pediatrics see the highest percentage of physicians still paying off student loan debt). Instituting employee loan repayment and ensuring your physicians are properly compensated can help avoid burnout and increase physician satisfaction.

Takeaway: When was the last time you took a hard look at your incentive comp plans and benefits? It may be time for an update..

Uplevel your compensation management and improve retention, productivity and performance.

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ProCARE partnered with a leading cancer treatment center to reduce compensation errors and overhead and improve provider trust.

ProCARE understands the business of compensation. They were our guides for building a platform for today and for the future.”

– Mat Hanley,
   VP of Finance

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