Ralph Waldo Emerson once said, "The future belongs to those who prepare for it." In the healthcare industry, these words have never held more meaning than they do today.
With the new individual mandate of the Affordable Care Act and the aging baby boomer population, the demand for medical care will be at an all-time high in the next few years.
As our healthcare system hobbles towards universal coverage and our aging population staggers to the golden years of life, the imminent need for medical care will result in a considerable physician shortage. The Association of American Medical Colleges (AAMC), reports that there will be a shortage of 45,000 primary care doctors in the United States (as well as a shortfall of 46,000 specialists) by 2020. With this in mind, how should an individual or department within a hospital prepare for these staffing challenges? Recognizing there is a serious staffing shortage on the horizon is the first step, and the very next step is to prepare a solid hiring plan of action based on these industry predictions.
This void left by the high demand for physicians will result in a reliance on physician assistants and nurse practitioners (also known as advanced practice practitioners) by medical employers. According to a report by the Bureau of Labor Statistics, the employment of physician assistants and nurse practitioners is expected to increase between 31-38 percent by 2022, which is much faster than the national average. This newfound demand in advanced practice professionals will create drastic staffing challenges for human resource managers of hospitals and other medical facilities across the country.
With the increase in demand for medical professionals on the horizon, c-level executives for hospitals across the nation are putting more prominence in staffing. In a recent article in US News & World Report, it was noted that staffing is the new linchpin of moving towards the hospital of tomorrow. The article supported the neoteric priority of staffing by hospital administrators, mentioning a study that indicated 42 percent of hospital executives cited staffing as the top concern for their facility.
To prepare for this challenge, one of the most valuable resources available for staffing medical professionals are the services provided by a healthcare recruitment firm. The benefits gained by partnering with a skilled healthcare recruiter are enormous. They can add tremendous value to the talent acquisition landscape of an organization. Healthcare recruiters can guide you through the complexities of physician supply and demand. What is known already is that, with the population growth, aging, and other factors, demand will outpace supply through at least 2025. Plugging more resources into finding and hiring physicians will not be enough to address these shortages. Future demand for physicians will be significantly reduced if physician assistants and nurse practitioners play a larger role in patient care. Reconfiguring the way some services are being delivered and retaining existing staff is the new paradigm. A valuable healthcare recruitment firm can propose a successful plan for both.
According to a study by the Society for Human Resources Management (SHRM), the cost of making the wrong hire could be up to five times the bad hire’s annual salary. Because of this alarming statistic, many healthcare executives find it is best to partner with an experienced healthcare recruiting firm to make these weighty and impactful decisions. Recruiters have a wealth of resources and expertise at their disposal, allowing them to serve as matchmakers who find the perfect fit between practice and provider.
With the healthcare changes on the horizon, healthcare administrators should treat the aforementioned quote by Ralph Emerson as a small dose of foreshadowing. The best way to prepare for the upcoming staffing shortage is to align your company with an experienced and seasoned recruitment firm. Taking proactive measures today will lighten the impact of the future staffing storm.
It is vital for healthcare executives responsible for staffing and personnel to recognize and prepare for the impending personnel plague that the healthcare industry will undergo over the next several years. Partnering with the right healthcare recruitment agency can help you foresee these future developments and allow you to prepare for them far in advance.
To discover how you can take your first step in establishing a relationship with a healthcare recruiting firm, simply click here. MedSource Consultants has been focused on solving the hiring challenges of medical facilities across the country since 1996. We cannot wait to solve your challenge today.