There is a demographic revolution occurring in the healthcare market today. According to the Center for Disease Control (CDC), in the next twenty years, 20 percent of the entire U.S. population will be over 65 years of age and the United States’ healthcare spending is projected to increase by 25 percent. By 2020, the American Hospital Association estimates that Baby Boomers will account for four in 10 physician office visits. This growth and aging population will cause a high demand for healthcare services.
Health Systems will not only have to manage this demand, but also be accountable for attracting and retaining top performers while creating strategic programs to manage the changing demographics. The projected shortage of physicians, nurses and caregivers coupled with the number of healthcare professionals reaching retirement requires strategic talent management planning. Hospital CEOs confirm that clinical professionals, such as physicians, nurses and pharmacists are the key revenue driving positions. You must be able to attract and retain the most qualified healthcare professionals because these positions are directly linked to a hospital’s financial health. If a hospital has inadequate staffing, it could have a negative impact on their bottom line.
Learn how Health Care Service Corporation (HCSC) and WakeMed Health & Hospitals found a cure for their human capital management strategy with Peopleclick Authoria.