A recent article appearing in Becker’s Hospital Review (found here) has outlined the stakes for hospitals that are operating at suboptimal nurse staffing levels: maintain healthy staff ratios, or risk losing millions of dollars a year due to lacking nursing capacity.
The costs of these shortages will affect all facilities differently, but the main causes of financial loss are outlined below:
- Reduced patient volume: if patients can’t be admitted to your facility, they will be forced to go to your competitors’. Even patients who have already been admitted to your hospital may have to be transferred to other facilities due to high nurse need in departments like the ER and ICU.
- Hidden costs of travel nurses: while travel nurses are usually very experienced in their specialty, they often need time to integrate into the facility and the surrounding area, all while being more expensive per hour than a staff nurse. They can be a quick fix to staff shortages, but may end up costing your facility more in the long run.
- The price of your own nurses: Stretching your facility’s existing nurses capabilities thin can have unintended consequences. Fatigue, burnout, and dissatisfaction can all lead to worse patient outcomes and hurt your facility. Overtime costs are more explicit, and will also directly impact your facility’s bottom line.
Looking for a way to cut down on these costs? PassportUSA is your lifeline. We specialize in providing a cost-effective and long-term workforce solution, stopping your flow of expenses and letting you get back to putting patients first.
Why should you reach out PassportUSA? Because others have, and are thrilled with their decision to get in touch. Request a proposal for your facility today and let us show you how can reduce your supplemental nurse staffing expenses by an average of 15%.