With: Becker’s Healthcare and Susan Pasley, MS, BSN, RN - Vice President of Clinical Solutions, CareRev and Candace Jackson, MBA, BSN, RN, CSSM - Senior Operations Manager, Clinical Interviewing, CareRev
The healthcare industry faces a daunting task - managing labor expenses while maintaining the highest quality of care for patients. This challenge has only intensified with the increasing demand for healthcare services and the alarming rate at which nurses are retiring early, creating a shortage of qualified nursing professionals. However, there is a solution that can help reduce labor expenses while improving the quality of care: hiring qualified, on-demand local talent.
In January 2022, travel nurses accounted for almost 40% of nurse labor expenses. Instead of allocating a substantial portion of your budget towards costly travel contracts that offer temporary service, opting for local talent can lead to cost savings in labor expenditures. CareRev’s innovative technology that specializes in connecting qualified healthcare professionals from the local community on an on-demand basis can help healthcare executives devise a long-term strategy that benefits both their facility and workforce. Adopting this approach not only reduces labor expenses, but also elevates the quality of care provided to patients.
Local healthcare professionals have a better understanding of the local culture and community, making them more effective in communicating with patients and providing personalized care. They also have established relationships with other healthcare providers in the community, enabling them to coordinate care more efficiently. Unlike agencies, local talent provides a stable and sustainable nursing workforce.
In a recent webinar, CareRev’s Vice President of Clinical Solutions, Susan Pasley, chatted with the Senior Operations Manager, Clinical Interviewing, Candace Jackson, on how to not only address staffing shortages plaguing facilities, but how to save millions in labor costs along the way.
Reducing Reliance on Travel Nurses Starts in Your Community
Moderator: “How can healthcare organizations balance the need for cost control with the need to provide high quality care and attract top talent?”
Susan Pasley: “Through CareRev, we've been able to really help on the cost containment front with leveraging advanced technology and an AI algorithm to take into consideration an incredibly expansive list of variables that will impact where you set that rate because it might be different today on a Wednesday day shift than it would be on a Saturday night shift of a holiday. And so, we can take that guesswork out of it to tell you right where the sweet spot is that is going to get that shift filled.”
Moderator: “How can this approach of trying to utilize more local talent help drive better patient outcomes and higher levels of satisfaction?”
Candace Jackson: “So if an ICU is closed, that very obviously can impact the level of care that patients in that community are receiving. The patients are still going to be there, they don’t go anywhere. And so, what's happening then is maybe they're being held in overflow units or they're being transferred out to other facilities, and all of those things have the ability to negatively impact patient care.
Bringing on that local talent pool allows for hospitals to keep floors open, keep things moving along, and know that the staff that they're bringing in are experienced and dedicated staff as well. And I think that's really important to note. “
Watch more from their time together below:
Healthcare Facilities Need A Long-Term Strategy
Revolutionizing healthcare workforce strategies requires efficient solutions that prioritize the needs of modern nurses. Technology-enabled solutions are key to achieving this goal. By gaining access to expert nursing professionals, healthcare facilities can circumvent high turnover and increase retention rates without breaking the bank. This approach delivers what today’s nurses want within the profession, their work cultures, and the healthcare community.
Gain valuable insights on overcoming nurse turnover and the nursing workforce crisis by accessing our webinar, where experts discuss leveraging technology, reducing reliance on travel contracts, and saving costs.
Let's work together to revolutionize healthcare workforce strategies and ensure the highest quality of care for our nurses and their patients.