The Cost of the Health Care Workforce
This paper will be discussed, explain, and evaluate the cost of the healthcare workforce. It will cover the addressing topics on drivers’ cost, or health-related options, industries solution, labor cost, future changes, or accelerate the solution. According to the U.S Bureau of Labor Statistics states in 2014 when employment percentages go up high healthcare cost raise high also, and that’s why finding a solution to balance the growth of employment and healthcare.
According to Benz, 2018 explain the Affordable Care Act existed it gives everyone the opportunity to accept or denied health insurance and a consumer has the choice to choose the insurance that works best for them even if their place of employment doesn’t provide health insurance. “As health benefits evolve-decreasing in value, becoming a commodity, and ultimately no longer being a reason to join or stay at a company organization of all sizes need to reevaluate and rebalance the employee value proposition (Benz, 2014).”
According to LaPointe states that healthcare system and hospital have missing their opportunity to save millions due to the organization doesn’t have an evident healthcare workforce management. “While some provider used a different type of workforce management system used for labor budgeting, timing, and scheduling. The organization may use a different type of tools managing types of fundamental for healthcare management (LaPointe, 2018).”
As Healthcare mergers and acquisition have shown growth in healthcare workforce management as marketing changed years ago. “The systems were also implemented for compliance reasons only to make sure health systems were compliant with statutory wage regulations, not as a tool to help manage their workforce (LaPointe,2018).”
Medical Insurance benefits have long been a key differentiator for mid-size and large companies. They are a main “feature in recruiting materials and are often cited as a reason people stay with a company (Benz, 2014).” According to the article, Mindtools explains why employees stay with an organization “Motivated people have a positive outlook, they're excited about what they're doing, and they know that they're investing their time in something that's truly worthwhile. In short, motivated people enjoy their jobs and perform well ( Mindtools, 2018).”
There are many reasons why an employee’s stay with a company or they most likely stay if they received a positive feedback from their boss, especially a word of encouragement and acknowledge to a job well done usually get a successful result.
“Once hospitals and health systems understand labor data and apply the insights from predictive analytics tools, the healthcare workforce management team should set targets for reducing labor costs and streamlining staffing (LaPointe, 2018).”
“The data and analytics tools should particularly help to reduce labor costs associated with contingent workers. When healthcare organizations cannot fill a shift with employed individuals or the organization has a need beyond the skill set of their current workforce, leaders turn to staff agencies and contingent workers for temporary staffing (LaPointe, 2018).”
This paper covers all the addressing points on Cost of the healthcare workforce and there is important point explain ways to reduce the cost of healthcare versus employment, the solution given and ways to maintain or control high cost in employment and healthcare.
Reference
MindTools (2018) Motivation, Energizing Your People to Achieve Good Things.
Retrieved from: https://www.mindtools.com/pages/article/motivating-your-team.htm
LaPointe, J (2018) Gaining Visibility into Healthcare Workforce Management Cut Costs
https://revcycleintelligence.com/ne...to-healthcare-workforce-management-cuts-costs
Benz, J (2014) Will Purpose Rebalance the Employee Value Proposition? People and Strategy; New York Vol. 37, Iss. 2, Retrieved from https://search-proquest-
This paper will be discussed, explain, and evaluate the cost of the healthcare workforce. It will cover the addressing topics on drivers’ cost, or health-related options, industries solution, labor cost, future changes, or accelerate the solution. According to the U.S Bureau of Labor Statistics states in 2014 when employment percentages go up high healthcare cost raise high also, and that’s why finding a solution to balance the growth of employment and healthcare.
According to Benz, 2018 explain the Affordable Care Act existed it gives everyone the opportunity to accept or denied health insurance and a consumer has the choice to choose the insurance that works best for them even if their place of employment doesn’t provide health insurance. “As health benefits evolve-decreasing in value, becoming a commodity, and ultimately no longer being a reason to join or stay at a company organization of all sizes need to reevaluate and rebalance the employee value proposition (Benz, 2014).”
According to LaPointe states that healthcare system and hospital have missing their opportunity to save millions due to the organization doesn’t have an evident healthcare workforce management. “While some provider used a different type of workforce management system used for labor budgeting, timing, and scheduling. The organization may use a different type of tools managing types of fundamental for healthcare management (LaPointe, 2018).”
As Healthcare mergers and acquisition have shown growth in healthcare workforce management as marketing changed years ago. “The systems were also implemented for compliance reasons only to make sure health systems were compliant with statutory wage regulations, not as a tool to help manage their workforce (LaPointe,2018).”
Medical Insurance benefits have long been a key differentiator for mid-size and large companies. They are a main “feature in recruiting materials and are often cited as a reason people stay with a company (Benz, 2014).” According to the article, Mindtools explains why employees stay with an organization “Motivated people have a positive outlook, they're excited about what they're doing, and they know that they're investing their time in something that's truly worthwhile. In short, motivated people enjoy their jobs and perform well ( Mindtools, 2018).”
There are many reasons why an employee’s stay with a company or they most likely stay if they received a positive feedback from their boss, especially a word of encouragement and acknowledge to a job well done usually get a successful result.
“Once hospitals and health systems understand labor data and apply the insights from predictive analytics tools, the healthcare workforce management team should set targets for reducing labor costs and streamlining staffing (LaPointe, 2018).”
“The data and analytics tools should particularly help to reduce labor costs associated with contingent workers. When healthcare organizations cannot fill a shift with employed individuals or the organization has a need beyond the skill set of their current workforce, leaders turn to staff agencies and contingent workers for temporary staffing (LaPointe, 2018).”
This paper covers all the addressing points on Cost of the healthcare workforce and there is important point explain ways to reduce the cost of healthcare versus employment, the solution given and ways to maintain or control high cost in employment and healthcare.
Reference
MindTools (2018) Motivation, Energizing Your People to Achieve Good Things.
Retrieved from: https://www.mindtools.com/pages/article/motivating-your-team.htm
LaPointe, J (2018) Gaining Visibility into Healthcare Workforce Management Cut Costs
https://revcycleintelligence.com/ne...to-healthcare-workforce-management-cuts-costs
Benz, J (2014) Will Purpose Rebalance the Employee Value Proposition? People and Strategy; New York Vol. 37, Iss. 2, Retrieved from https://search-proquest-