Healthcare Finance News October 15, 2021
Hospital turnover increased by 1.7% during the past year and currently stands at 19.5%.
Due largely to the COVID-19 pandemic, registered nurses are leaving healthcare, with many retiring early or simply leaving the profession for other pursuits, burdening hospitals with exorbitant turnover costs, a new report finds.
The 2021 NSI National Health Care Retention & RN Staffing Report found that since 2016, the average hospital has turned over about 83% of its RN staff and 90% of its overall workforce, with the cost of turnover for a bedside RN ranging between $28,400 and $51,700 — enough to cause many hospitals to lose between $3.6 and $6.5 million per year.
Overall, the healthcare jobs market continues to trend upward, with 37.4%...