Across the country, nurses are retiring, quitting temporarily to recover from burnout, or taking higher paying gigs as travel or contract nurses. According to the 2021 NSI National Health Care Retention & RN Staffing Report, the nurse turnover rate stands at 18.7%. Given these market conditions, hospitals are relying more and more on contract labor, and are faced with constantly changing rates for RNs and other healthcare positions. To help organizations address the challenges created by the nurse shortage, Hallmark Health Care Solutions is providing the industry with real-time hourly nurse rates as well as benchmark rates for more than 300 clinical and non-clinical roles.
“We’ve seen firsthand the struggles that hospitals are having right now when it comes to filling open nurse and RT slots, says William Reau, COO of HHCS. “Most hospitals are getting hit with exorbitant premium and agency rates, and really should have a resource that provides them with benchmark data. To answer this need, we’ve decided to publish competitive rate data and make it available to any, and all healthcare organizations so that they can make the most informed staffing decision possible.”
In today’s healthcare labor market, contract labor rates are changing almost daily, so it’s important to have a baseline as well as a current snapshot of your competitive landscape. The Einstein II Labor Rate Reports were developed to do just that. With the data in these reports, hospitals and other healthcare organizations will be able to better manage their contingent labor spend by comparing their rates to agency rates within their state.
Upon request, organizations will automatically receive two separate reports. The first report contains real-time nurse rate data which is immediately actionable, and the second is the Einstein II Semi-annual Rate Report which contains three benchmarking data sets – clinical rates, allied-health rates, and non-clinical rates. The Semi-Annual report is an ideal reference for rate analysis and forecasting. Both reports show high and low bill rates for specific positions within a selected state or for multiple states.
The pandemic, an incipient nursing shortage, vaccine mandates, and rising turnover rates have collided to produce nearly unprecedented vacancy rates. The result has been continued volatility in contract wages for nurses and other clinical staff. Since December 2019, rates for travel nurses have more than doubled in many places, according to Becker’s Hospital Review. This makes it imperative that hospitals understand how their rates compare to others within their market.
About Hallmark Health Care Solutions
Hallmark Health Care Solutions (HHCS) is a healthcare technology firm headquartered in New York. Each of our experienced executive team members brings an average of 20+ years in IT, nursing, process engineering, finance, and health care. HHCS is ranked No. 318 in the 2021 Inc. 5000 List of Fastest Growing Private Companies in the U.S. The company’s software solutions are used by over 50,000 health care professionals in more than 1,000 health care facilities across all 50 states. In the past decade, we have collectively delivered tens of millions of dollars in cost savings and revenue gains to our clients, thanks to our best-in-class workforce and compensation management technology.
Company :-Einstein II
User :- Susan Woodard
Url :- https://einsteinii.com