Hospitals and health systems
face financial and human resource
challenges like never before.
If your hospital or health system is facing the worst financial situation you’ve seen in years, you’re not alone. Expenses from supplies to drug costs continue to rise, labor shortages spiked in 2022, and many organizations are still operating below their pre-pandemic patient levels.3,4
As people return to a new normal pattern of healthcare, hospitals and health systems still haven’t seen a slowdown in employee benefit utilization. Though the costs of finding and retaining talent have been high, without valuable employees providing care, the doors of the hospital would be forced to close.
For those working in human resources, the financial office, or the pharmacy looking for unique ways to monetize the pharmacy of a hospital or health system, there’s a new business world bringing hard decisions to the table.
It’s never been more important for you to provide your employees and their dependents with rich – yet affordable – benefits. In this eBook, we’ll uncover ways to safeguard your pharmacy benefits plan from ever-tightening budgets without losing the features that keep members happy.
The Unique HR Challenge
Alarmingly small talent pools, mergers, acquisitions, and finding ways to contain costs while also trying to keep the workforce engaged – healthcare’s HR leaders have a lot on their plates.
Burnout has long been common among both doctors and nurses, leading to high first-year turnover rates as many new care providers struggle to cope with the reality of the job. Over the past several years, under unique and very complicated circumstances brought about by the pandemic, hospital employees left their jobs at record rates, and it has been a challenge to replace them with similarly high-quality staff.
Hospitals need to take new and different approaches to attract and retain top talent. Providing your employees with a member experience that provides immediate and complete resolution to their issues while employing cost mitigation strategies can help you meet all of your HR goals.
There’s never been a moment in recent history when access to healthcare and other employee benefits was quite so important. And yet, finding ways to control healthcare costs will be even more of a focus than usual. The challenge for HR leaders is probably the greatest it has ever been.