Healthcare's workforce is in critical condition. The current shortage, which is expected to persist through 2030, has the industry scrambling to find an additional 1.2 million nurses to meet growing patient demand. On a local level, the impact the shortage is having on the health of communities is dire, with 67% of nurses planning to leave the field within the next three years.
At CareRev, we are working with healthcare facilities to minimize retention and burnout issues and build a resilient workforce. Our FlexWork platform and Smart Rates technology enable healthcare facilities to optimize their workforce by creating better shift views and demand oversight that encourages adequate staffing - ultimately, this allows healthcare professionals to work at the top of their license and deliver quality patient care that can help improve health outcomes.
Strategically deploying staff
The paper and pen method isn’t doing the job. As hospitals scramble to fill shifts, there is a growing need for technology to drive staffing optimization through data-driven insights. With CareRev FlexWork, staffing managers can easily manage and move staff to match patient demand.
The staffing shortage is stagnant, but as an industry, we can make up the difference by distributing staff efficiently and effectively. To meet fluctuating patient needs, facilities must use technology to increase their understanding of their staffing landscape – pulling together full-time and part-time staff, internal float pools, and on-demand per diem healthcare professionals. Adopting this solution improves staffing managers’ ability to strategically fill staffing gaps in the right units at the right time.
Lowering costs with data-driven shift rates
Due to the pandemic, healthcare facilities became accustomed to a routine of overspending on travel nurses – a short-term solution to the nursing shortage. Years down the road, hospitals are still struggling to price shifts to both entice healthcare professionals and stay within labor budgets. CareRev’s Smart Rates technology offers healthcare facilities rate recommendations based on shift pick-up trends. By tracking shift fill rates and pick-up speed of previous shifts, Smart Rates machine learning (ML) technology helps facilities make better pricing decisions – eliminating the habit of overpricing shifts while still providing fair rates for on-demand healthcare professionals. This technology takes the guesswork out of shift pricing to fill shifts faster and strategically manage staffing budgets.
Using Smart Rates, a non-profit community hospital and mental health center located in Los Angeles, California, has been able to lower per diem shift rates by 16% and has seen a 204% increase in effectiveness compared to manually pricing shifts.
Enriching employee work life & patient care
By implementing healthcare staffing technology, systems across the country have an opportunity to optimize staff management, reduce labor costs, and better support their employees to improve retention. Adapting to the current state of the healthcare industry and the needs of patients will allow healthcare systems to improve quality of care by spending more time at the bedside with patients.