The Culture Cost, Part 1



Tracking Turnover

A three-part series of blog posts examining challenges facing health care administration.
CC image courtesy of Ilmicrofono Oggiono, Flickr.

In today’s healthcare environment, an organization’s culture affects both financial success and patient satisfaction. Employees who are engaged, committed and satisfied in their work will provide better care and are more cost-effective for a healthcare organization’s bottom line. Employee retention and turnover rates can be a key indicator of a health hospital culture.

From the perspective of the patient, comfort, care and confidence are measurements of success right alongside expertise and excellence in treatment. And all of those elements can directly affect long-term health outcomes and financial success. That’s why it’s imperative that hospital and health care leaders implement sound strategies to increase employee satisfaction and improve employee retention.

Research shows that retaining and attracting physicians is and will continue to be a high priority for hospitals and healthcare organizations nationwide. A 2015 report by the Association of American Medical Colleges indicates that the United States will face a shortage of 46,000-90,000 physicians by 2025.

“The doctor shortage is real – it’s significant – and it’s particularly serious for the kind of medical care that our aging population is going to need,” said AAMC President and CEO Darrell G. Kirch, M.D.

With the demand for physicians outpacing the supply, retaining and attracting doctors must be a priority for hospital administrators. Losing physicians is simply too costly. Similar principles apply when it comes to attracting and retaining nursing staff. Turnover among registered nurses can have a significant impact on the hospital’s bottom line, and ultimately, on the quality of care as perceived by patients.

The good news is that by implementing strategies that create a healthy, happy work environment, hospitals can reduce turnover costs and maximize excellence in patient care. In Part 2 of this blog series, we’ll examine how employee turnover affects patient care, and in Part 3, we’ll look at implementing solutions to improve communication, collaboration and conflict resolution and, ultimately, overall culture  in the healthcare setting.

For additional research, statistics and details, complete the form below to download the full DCS white paper “The Culture Cost:  Reducing Employee Turnover by Improving Hospital Culture.” [email-download download_id=”934″ contact_form_id=”928″]


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