Cost Analysis
Why Do You Need Travel Nurses?
Hospitals and healthcare facilities nationwide are feeling the effects of an acute nurse shortage – contending with frequent staff nurse retirements, relocations and terminations while always searching for hard-to-find replacements.
We understand that the impact of unfilled nurse vacancies results in lost revenue, unfilled beds, inadequate patient care, and stress on remaining staff nurses. With vacancy rates averaging 16%, utilizing travel nurses to supplement existing staff, or fill unplanned vacancies, can help.
Travel Nurses: One of the Best Investments You’ll Ever Make
The use of travel nurses pays big dividends in reducing staff shortages, overtime, stress and turnover.
According to our surveys of healthcare clients, 77% believe work-related stress is a major factor in nurses leaving the profession and leaving hospital duty. Low nurse-to-patient ratios and overtime have been well documented as a major cause of job-related stress for staff nurses.
Turnover and Overtime Costs You Don’t Have to Afford
Many organizations believe that increasing overtime usage is a viable solution. However, facilities often fail to consider the long-term effects of overtime, such as job burn out, poor patient care and ultimately turnover.
When you consider that average turnover rates are topping 20% and the average RN cost-per-hire is nearly $3,000, hospitals may be facing considerable turnover costs as a result of staff shortages.
Travel Nursing is a perfect solution to limit staff shortages or fill unplanned vacancies, and at the same time preserve staff morale, curb turnover, increase revenues, and maintain quality patient care.
Call us at 1-800-647-3009 today to get started.
CALL OUT BOX/GRAPHIC
100 X $3,000 = $300,000 annual turnover costs
A mid-sized hospital with 500 staff nurses may lose an average of 100 nurses annually, costing the facility approximately $300,000 a year in unnecessary turnover costs.
