There has been a notable trend in the healthcare recruiting and staffing industry last few years. Small- and medium-sized physician practices are experiencing high employees turnovers. Unfortunately, this trend is now widespread due to the covid-19 pandemics. It is becoming more difficult for small and medium-sized practices to find qualified employees, let alone keep them. This observation is made not only in primary care but in many medical specialties.
According to Sages Journal, “Department of Veteran Affairs reveals a 15% turnover rate for clinicians and other staff across US primary care practices. Also, a study of physician and staff turnover in Ohio primary care practices reported an average turnover rate of 53% over two years.” A recent study of primary care practices in Oklahoma found that 46% of its sample experienced physician or key staff turnover in the preceding year, and 23% experienced turnover for these positions during the study year.” Overall, Healthcare organizations are experiencing between 16 to 30% skill worker turnover rates, more than four times that of any other industry, according to Brandon Hall Group.
Unfortunately, healthcare practices have to deal with employee turnover because it is one of the issues business owners have to deal with every day. However, a medical practice should strive to keep its turnover below 15%, as studies suggest. There is a direct correlation between a practice’s success and its employees’ turnover rates. Practices enjoy high productivity the longer they can hold on to their employees.
Predictably the consequences of this turnover phenomenon are having numerous negative impacts on the success of many practices. Among others, high financial costs, revenue loss, and low patient satisfaction. In addition to a negative result on a practice’s revenue cycle, staff morale and productivity are the most consequential of employee turnovers. Other employees have to take on more duties, resulting in losing more workers.
The most detrimental aspect of practices employee turnovers, however, is its impact on patients. Patients want a practice steadiness and reputation in choosing their physicians. A perceived lack of organization and professionalism can result in patient turnovers.
Consequently, providers should take their employee hiring seriously and seek professional advice. Hiring should not be just another office task assigned to the office or practice manager in addition to their already full plate. Hiring talents requires more work than matching resumes with job postings on Indeed. Practices should treat recruiting their staff as the principal ingredient for success. Thus practice owners should invest in finding the right employees by outsourcing the process to recruiting professionals.
Reliant Healthcare Solutions focuses on building relationships and solving practices hiring needs by offering tailored recruiting solutions. We take the time to learn about our clients’ work environments and cultures to find the right fit. On average, we interview 20-25 candidates for most practices positions. That requires spending a lot of time and resources on necessary background works, time most practices managers do not have. Contact us to learn more about our recruiting options.