By the Numbers: Healthcare Staffing Trends
The global healthcare staffing market size is likely to surpass US$ 47.5 billion by 2027 with a 5.1% Compound Annual Growth Rate, according to new report by Precedence Research.
The Bureau of Labor Statistics (BLS) predicts that the healthcare industry as a whole will see a significant increase in demand for medical services, especially with the growing geriatric population, increase in the average life span, and people who remain active later in life. According to Mercer, a healthcare staffing consultancy group, by 2025, the US will likely face a shortage of 446,300 Home health aides, 95,000 Nursing assistants, 98,700 Medical and lab technologists and technicians 29,400 Nurse practitioners.
Employment in healthcare occupations is projected to grow 16 percent from 2020 to 2030, much faster than the average for all occupations, adding about 2.6 million new jobs. Healthcare occupations are projected to add more jobs than any of the other occupational groups, as forecasted by The Bureau of Labor Statistics (BLS).
Healthcare Staffing Firms Bridge the Staffing Gap
In the healthcare industry, the demand for healthcare staffing fluctuates all the time and the need for qualified healthcare personnel is highlighted even more with the COVID-19 pandemic.
In order to help ease the increase in healthcare staffing demand in the US, state leaders across the US are providing financial support for healthcare facilities to use for staff to help during the COVID-19 pandemic. For instance, the State of Hawaii will receive more than 500 healthcare professionals from out of state to help fight COVID-19, the Hawaii Department of Public Health announced. The state is receiving $46 million in funding from the Federal Emergency Management Agency to bring travel healthcare workers through ProLink Healthcare, a Cincinnati-based healthcare staffing firm.
Healthcare staffing firms are key players in supporting healthcare organizations in balancing patient ratios and providing patient care through qualifying candidates efficiently. Healthcare staffing firms step in and fill the staffing gap. With proper staffing of personnel, healthcare organizations improve patient outcomes and benefit both the patient (through reduced costs and decrease in chances of readmission) and the personnel (through retention).
Outsourcing Companies To Support Non-Essential Operations
The increase in the demand for healthcare workers has created a need for outsourcing firms, particularly Business Process Outsourcing (BPO), to help support healthcare organizations, allowing them to function and focus on core operations even in the midst of the pandemic.
With the right Business Process Outsourcing company, Healthcare organizations can maximize the Return on Investment and more importantly, establish and strengthen the Patient Experience.
Healthcare organizations can further tailor and maximize the services of BPOs through training their BPO partner with the goal of streamlining workflows related to the firm. Taking into consideration the increase in demand for healthcare professionals, BPOs can, with proper training and orientation conducted by the organization:
- Medical Billing
- Credentialing
- Eligibility Verification
- Data Reporting
- Transcription
- Assist with Scheduling
- Accounting Services
- Payments Processing
- Telemarketing
- Provide other Back Office Support
The possibilities are endless. With BPOs, firms can expect efficiency in back office support operations to their healthcare staffing services program. To learn more about how Connext builds custom healthcare support teams, you can build a sample team with our Team Builder tool.
Connext provides fully customized outsourcing solutions for organizations looking to innovate and grow. Work with Connext Global Solutions today.
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