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Managers often equate cutting costs with trimming operating expenses, which is important in many cases, but what’s more costly for many hospitals is employee turnover.
Retaining quality doctors and other healthcare providers is of huge concern to hospital administrators across the United States. A recent study reported a nearly 30 percent turnover rate in healthcare jobs, numbers that have made employee retention a high priority.
While measuring the costs of employee turnover might not be as easy as measuring the cost of, say, cutting back on the use of certain supplies, the overall impact it can have on a hospital is often greater. For example, turnover can quickly lead to:
Employee retention is crucial, considering the negative impact(s) of employee turnover. And it only stands to reason that retaining the highest quality physicians is based, in large part, on how satisfied they are with their current position and career path. Experts say that many factors come into play when it comes to a physician’s job satisfaction (which translates to increased patient satisfaction):
In short, physician satisfaction creates a win-win situation for everyone – the patient, the hospital, and the physician. Employee turnover costs are reduced, but most importantly, patient satisfaction isn’t sacrificed.
Working with the Concord Medical Group can be of great benefit to you whether you’re a physician or recruiter who is seeking the best providers to fill your staff. We help place physicians in positions that best suit their needs and allow them to succeed, while we help hospitals find the right people for their organization and culture.
Concord Medical Group is extremely excited to announce that John Jones, MD has accepted the role of Chief Medical Officer of Emergency Medicine.
Exceptional Medical Directors are a not-so-secret sauce that power any well-oiled clinical program. They are a unique breed; equal parts clinical stand-out, skillful communicator, strategic thinker, and thoughtful mentor. At Concord, Medical Directors
Exceptional Medical Directors are a not-so-secret sauce that power any well-oiled clinical program. They are a unique breed; equal parts clinical stand-out, skillful communicator, strategic thinker, and thoughtful mentor. At Concord, Medical Directors
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