Eight of 10 healthcare executives say difficulty attracting and retaining talent is a serious risk to business—a reflection of ongoing labor issues in healthcare.
Why it matters: The healthcare industry continues to face a talent crisis, according to a PricewaterhouseCoopers (PwC) August Pulse Survey. Severe clinical workforce shortages combined with increased patient demand is leading to higher prices.
PwC’s Health Research Institute predicts the combination of factors will help increase medical costs by 7% next year, up from 6%.
By the numbers: The PwC survey found 82% of healthcare executives were worried about talent retention, compared to 71% from other industries.
What they’re saying: “To become better positioned to attract and retain talent, healthcare execs are starting to rethink their traditional workforce and business models and invest in technology and innovation,” PwC wrote, pointing to more tailored benefits and redefined care models.
The big picture: Healthcare providers are increasing labor actions, including going on strike, pushing health systems to increase staffing and compensation.
Behind the numbers: The PwC survey, conducted in early August, surveyed 609 U.S. executives from public and private companies in six sectors. Healthcare represented 7% of the respondents.
Chivaroli and Associates Insurance Services is a full-service brokerage firm specializing in the custom-design and placement of insurance and alternative risk funding solutions for your healthcare organization.