Becker's Hospital Review

40 EXECUTIVE BRIEFING 1 EXECUTIVE BRIEFING As healthcare costs continue to climb, hospitals are under increasing pressure to fi nd innovative ways to maintain fi nancial stability while delivering high-quality care. Virtual nursing has emerged as a powerful tool, offering a model that enhances patient care and combats never-ending cost increases. Virtual nursing as an economic strategy Unlike agency staffi ng, which is often a temporary and expensive fi x to the ongoing challenges of workforce shortages, virtual nursing offers a permanent and more cost-effective solution. "Virtual Nursing isn't just a staffi ng solution; it's a strategic lever for reducing costs across the board," Tony Buda, CEO of Banyan Medical Solutions, said. By integrating virtual nurses into the care model, hospitals can optimize labor resources, signifi cantly reducing the reliance on costly agency staff and the burden of overtime pay. "Virtual nurses handle many of the non-hands-on responsibilities, freeing bedside nurses to focus on direct patient care," Mr. Buda said. This streamlined approach not only lowers operational costs but also improves patient throughput, leading to better fi nancial outcomes. By addressing the root causes of staffi ng challenges, virtual nursing provides a sustainable model with long-term benefi ts that far surpass those of temporary solutions. Real-world impact: enhancing operations, fi nances and patient care At Banyan's partner hospitals, virtual nursing has demonstrated tangible results. "One hospital reduced their average length of stay and saw a 25% decrease in premium labor costs within three months of implementing virtual nursing," Mr. Buda said. The key to success? Strong communication and seamless integration that ensures everyone knows their role and executes it with precision. In another example, patient satisfaction scores signifi cantly improved when virtual nurses took over patient education and follow-up duties, allowing bedside nurses to focus on hands- on care. This enhanced patient experience and led to fi nancial benefi ts, such as higher reimbursement rates from value-based care programs and an improved hospital reputation. These successes highlight the importance of clear role defi nition and integrating virtual nurses effectively into the existing care team to create positive outcomes in patient care and fi nancial performance. Scalability: the critical factor in virtual nursing Scalability is a critical consideration for any virtual nursing model. "Not all virtual nursing models are created equal," Mr. Buda said. "At Banyan, we've designed our model to be highly scalable, allowing hospitals to expand their use of virtual nurses as needed without major infrastructure changes." Unlike other virtual nursing programs that may require hospitals to hire and manage their own staff, Banyan offers an end-to- end solution that includes managed staffi ng, expert clinical consultancy and the necessary technology platform. This approach reduces the burden on hospitals, providing a more cost-effective and seamless integration of virtual nursing into their existing operations. "Many hospitals face the dilemma of whether to build their own virtual nursing program or partner with a provider like Banyan," Mr. Buda said. "Building a program in-house can be costly and resource-intensive, often requiring new infrastructure and additional management responsibilities. Our managed staffi ng model provides a turnkey solution ready to scale with the hospital's needs, delivering long-term value without the headaches of building from scratch." This scalability and comprehensive support ensure that Banyan's virtual nursing model not only adapts to the hospital's current needs but is also positioned to grow and evolve alongside the healthcare landscape — providing sustained benefi ts in both care delivery and fi nancial performance. The importance of scalability lies in its ability to allow hospitals to adjust staffi ng levels in response to fl uctuating patient volumes and evolving healthcare demands. This fl exibility helps manage costs more effectively while maintaining high-quality care, even as conditions shift. Moreover, a scalable model supports sustainability. Hospitals can build on initial successes and gradually integrate more virtual staff into their operations. This approach maximizes return on investment and ensures that hospitals can adapt to future challenges without completely overhauling their care model. Virtual nursing: A strategic economic model for‚modern healthcare

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