As the labor market continues to grow, healthcare is expected to add approximately 586,000 jobs in 2016 according to the Bureau of Labor Statistics. In June alone, approximately 39,000 new jobs were added in healthcare. This is encouraging news, but as retirements increase, health systems are still struggling to attract enough qualified candidates to hire for their full time positions. In this gap, they’ve increased their use of contingent labor nationally by 41% based on a review of strategic analytics by RightSourcing. As healthcare embraces new talent models, healthcare workforce solutions have adapted and grown to accommodate these new working arrangements. Are you aware of which healthcare workforce solutions are trending?
Healthcare Workforce Solutions to Watch
The healthcare industry is continually redefining itself, evolving to embrace new technologies, new labor models, and approaches which ultimately serve to enhance patient care. Consider the following healthcare workforce solutions currently on the rise:
- Managed service provider partnerships. The rise of a new talent model, the use of contingent workers, has given rise to new challenges acquiring and managing contingent labor. In response, healthcare systems have adopted new healthcare workforce solutions such as partnerships with managed service providers (MSP’s). Partnerships with MSP’s are a growing trend among health systems for contingent workforce management, operational efficiency, risk mitigation, and significant cost savings. Onsite program management teams assist health systems in all areas of contingent labor, allowing health systems to focus on the business of enhancing patient care. As contingent labor programs continue to grow, these partnerships will be one of the most important healthcare workforce solutions that a health system can adopt to effectively manage risk and decrease healthcare hiring
- Vendor management systems. Vendor management systems, or VMS technology, have become one of the fastest growing healthcare workforce solutions to source and hire contingent labor. This is because these systems make it incredibly easy to submit requisitions to multiple staffing suppliers and increase visibility into the supply chain. When combined with an MSP partnership, VMS technology can be a powerful tool to increase visibility into programs that quickly grow too large to manage among multiple hiring managers and departments.
- Strategic analytics. Healthcare hiring has been transformed by the adoption of Big Data solutions. Health systems seeking cutting edge healthcare workforce solutions have begun to integrate strategic analytics into their contingent labor programs to provide market rate intelligence, performance analytics and predictive hiring information. When used in conjunction with an MSP partnership, health systems also receive customized reporting solutions and proactive alerts into regulatory and healthcare compliance.
- Customized labor pools. Increasingly, health systems are testing new healthcare workforce solutions such as building customized labor pools. By leveraging their existing employee’s relationships, health systems are able to develop a talent pipeline of qualified individuals. By developing a customized labor pool, health systems are able to reduce time to hire and ensure exclusivity of contingent labor.
- Business validation and 1099 compliance. These healthcare workforce solutions emerged in response to new regulatory guidelines regarding 1099 contract workers. Many health systems feared they were improperly classifying their 1099 workers, exposing their system to significant risk. Many health systems now are tapping their MSP partners for business validation and 1099 compliance programs. This reduces their exposure to risk and enhances compliance efforts in growing contingent labor programs.
By 2024, the BLS estimates over 1.2 million healthcare jobs will be created. Many of these positions will be filled with contingent workers, requiring new healthcare workforce solutions to manage complexities and challenges. Contact the leader in healthcare workforce solutions to obtain a free workforce analysis and obtain the guidance your health system needs.