An internal resource pool will help you reduce your overtime costs.
June 4, 2014 by Vickie Anenberg
Staffing shortages force healthcare organizations to pay many of their workers overtime in order to cover the shifts that can’t go unfilled. But this additional expense is just the beginning, there are other less obvious costs associated with inadequate staffing. When you consider these burgeoning expenditures, you will see why a healthcare provider should consider utilizing an internal resource pool (IRP).
Being overworked leads to fatigue, which, in turn, can lead to errors, where in the field of healthcare can have serious consequences. The most severe mistakes cause harm to patients, which everyone strives to avoid making. When they occur, additional care can be required and result in longer in-patient stays. There can also be legal costs, increased insurance premiums and other risk-management expenses.
Long hours also decrease morale and lead to increased turnover, which further compounds the problem and adds to existing overhead. Absenteeism becomes a common problem as increased stress and dissatisfaction take a toll on existing staff, further exacerbating the situation.
These expenses aren’t always as apparent as the money it takes to pay overtime, but they are still very real and they add up. That is why many healthcare organizations have come to see the value in working with Cross Country Staffing (CCS) to develop an IRP.
This is a resource created with the help of CCS that provides clients with a continual flow of qualified candidates while reducing the overall cost of premium labor. By allowing CCS to manage the recruitment of an internal workforce, clients reduce spending on overtime, burnout and turnover, and they are able to increase job satisfaction for staff.
An internal resource pool helps eliminate the hidden costs of overtime while lowering the direct costs at the same time. This is a win-win solution for everyone.