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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.
Managing a rural ED is a complex challenge that requires strategy, innovation, and a relentless focus on both people and outcomes. For hospital executives and clinical leaders, success hinges on the ability to balance high-quality care, operational efficiency, and staff satisfaction. Here are some essential strategies to help you unlock excellence in your ED.
Concord Medical Group is extremely excited to announce that John Jones, MD has accepted the role of Chief Medical Officer of Emergency Medicine.
Staffing an emergency department with the right providers is essential to deliver high quality care and keep costs under control. We have found that creative and custom staffing models are essential to driving care quality and boosting financial health in rural, low-volume emergency departments.
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