As 2018 comes to a close and healthcare leadership defines its priorities for the coming year, workforce development is topping the list across all U.S. health systems.
Would you think that newly-hired nurses in their 40s are most likely to turnover in their first year?
In a recent study, Laudio reported that the span of control for a nurse manager can range from 40 to 220 with an average of 85 staff nurses. Unfortunately, additional research also indicated that the higher the span of control, the higher the team’s turnover rate. Among other issues, the result is staff burnout.
I was lucky. After my near-fatal ski accident, I received excellent care during my 7-week stay that spanned three of the highest ranked hospitals in the country. But I could not shake the dissonance between the care I received and the engagement and satisfaction of the people delivering it. My caregivers were helping me, and I was truly grateful. From my perspective they were doing the most important job in the world. But as I got to know my team, I understood that they did not feel the same way about their jobs that I felt about them. They were burning out.
This week, Laudio, healthcare’s first staff relationship management platform designed to improve employee engagement and reduce staff burnout, is participating in TeleCon18 - TeleTracking Technologies, Inc., annual conference focused on solutions that improve the patient experience across the care continuum.
On September 26th, Dr. Ronald Riner, President of The Riner Group and a leading voice on healthcare transformation, was a special guest in our monthly thought leadership webinar series. Before introducing Laudio’s new Staff Relationship Management (SRM) platform, Dr. Riner provided his in-depth perspective on health care technology and its implementation in health systems.
According to a recent American Hospital Association survey of healthcare executives, one of the top six hospital priorities includes fostering innovation. Now consider that last year to fuel this innovation, digital health startups saw over $11.5 billion of capital poured into their businesses; a new annual record.
You’ve read the national studies. You’ve reviewed your hospital’s reports. You’ve experienced it in your unit. Nurse turnover is an issue that impacts hospitals large and small, rural and urban, community or academic, for-profit and non-profit. Currently, the national rate is between 16-17 percent and health systems across the U.S. are prioritizing their retention strategies and investments.
For chief nursing officers, nurse turnover has become a top priority that impacts all corners of the health system from patient safety to the bottom line. Current research tells us that the national nurse turnover rate is around 17% and replacing one nurse can cost around $60K.