A recently released 2023 benchmarking report from Home Care Pulse provided valuable insights into the growth areas and staffing crisis in the home healthcare industry. The report is based on a survey of roughly 92,000 home healthcare professionals.
Ongoing Staffing Challenges
Home health and hospice providers recognize recruitment and retention as their top growth area. However, while 48.3% of respondents acknowledge staffing shortages as a significant threat to their business, only 21.2% consider employee turnover a concern. This suggests a strong emphasis on recruiting new employees without sufficient attention to retaining existing staff.
Key Takeaways on Staffing
Here are additional insights based on the HCP report:
- Increased Turnover: The report reveals a 12% spike in turnover in the past year. This elevated turnover rate, which now stands at 77.1%, indicates a growing issue within the industry. High turnover not only affects the continuity of care but also imposes additional burdens on providers who must constantly recruit and train new staff.
- Decline in Care Provision: 60.3% of home health providers have consistently turned down care since January of this year. This statistic highlights the significant strain on the workforce and the challenges faced in meeting the demand for services.
- Recruitment Source: When it comes to recruiting new employees, 31.4% of home health and hospice providers mentioned Indeed.com as their most effective recruitment source. This statistic suggests that online job platforms play a crucial role in attracting potential candidates.
Other Top Growth Areas
Closely following recruitment and retention as the primary growth area is customer referrals with 19.6% of respondents recognizing its potential. Building and strengthening relationships with referral resources ranked third on the list, chosen by 14.9% of respondents as a crucial factor for growth. Additionally, new partnerships secured the fourth position with 10.1% of respondents highlighting its potential, while exploring new markets claimed the fifth spot, as indicated by 9.5% of respondents. The insights provided by the HCP report shed light on the key growth areas for home health and hospice providers, with recruitment and retention leading the way, closely followed by customer referrals, relationship-building, partnerships, and new market opportunities.
Empowering and Supporting Clinicians for Growth
In order to maximize growth opportunities in the industry, it is crucial for home health businesses to prioritize support for clinicians. Efficient staffing utilization is key to expansion, and this can be achieved by establishing a sustainable support system to handle administrative and clinical back-office tasks. By offloading these responsibilities, clinicians can dedicate more time and energy to direct patient care, ultimately improving outcomes. Furthermore, addressing the needs of clinicians by providing them with adequate technological tools and documentation solutions is essential for enhancing their overall job experience and job satisfaction. By optimizing staffing and offering comprehensive support, home health businesses can position themselves favorably to seize growth opportunities while ensuring the delivery of high-quality care to their patients.