Combatting a Triple Threat: 3 Ways Hospitals can Address the Labor Shortage, Staff Burnout and Rising Pharmacy Benefits Costs

One of the major challenges facing the healthcare industry today is the talent shortage. The pandemic has stressed the issue of employee burnout and exacerbated the challenge of meeting the growing demand for healthcare services with an aging population. One way to attract employees and support the bottom line is to optimize pharmacy benefits.

RxBenefits’ VP of Strategic Markets & Advisory Services, Thatcher Sloan, shared with Healthcare Business Today, three ways hospitals can tackle rising benefits costs while meeting employee needs to continue to grow, attract, and retain talent. Here is a quick excerpt from the article:

Rising Pharmacy Benefits Costs for Hospitals 

Consider this: employee health insurance premiums account for one of hospitals’ biggest bills and are only getting bigger, as the average per-employee cost of employer-sponsored health insurance increased 6.3% in 2021. In addition, specialty drug utilization continues to rise, and many employers feel pressured to cover these despite spiking costs as 1 in 10 Americans would change jobs or involve their employer’s HR department to get coverage of specialty medications.

Read more about these 3 strategies from Thatcher Sloan here.

For more health system solutions, check out our Guide to Maximizing Hospital Pharmacy Benefits for Hospitals.

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