Welcome to our September issue of ProCARE Perspectives, where we highlight important, relevant healthcare news, compensation trends, and provider integration topics. We’re here to help you keep up with it all!
Shortages Continue, Provider Compensation Evolves
Healthcare worker shortages continue to persist, with HHS reporting that the seven-day average of hospitals reporting critical staffing shortages peaked at 22 percent in the second week of January. Although this number has been decreasing, staffing shortages are still a troubling barrier for hospitals and healthcare systems. Because of these trends, it’s crucial to stay up to date on how provider compensation is evolving including the shift to automated solutions.
Travel Nurse Pay Trends
It’s no secret that surges and staffing shortages caused by COVID-19 forced hospitals to rely on travel nurses to maintain their workforce. In terms of compensation, this highlighted the large gap between full-time workers’ pay and high-paying temporary contracts. However, as the pandemic enters its third year the trends are changing, with organizations shifting towards reducing their reliance on travel nurses, and pay becoming overall lower. Which begs the question – are providers all being valued, motivated and rewarded appropriately?
Employees Petition, No Confidence in Payroll Practices
Trust in payroll practices is one of the most important factors of employee happiness and retention. In the case of the ransomware attack on Kronos Group, health systems like St. Charles overpaid their workers based on inaccurate estimates and were asking 2,358 employees to pay back more than $2 million. These errors left employees with no confidence in their employer’s accounting and payroll practices. Does your compensation system evoke confidence or distrust in your employees?