Issue link: https://beckershealthcare.uberflip.com/i/849019
22 HEALTHCARE NEWS ADVERTISINGINDEX Note: Ad page number(s) given in parentheses ADVERTISER Aesculap. spine.us@aesculap.com / xpstrong.com / (866) 229-3002 (pgs. 14-17) Bioventus Surgical. bioventussurgical.com / (800) 637-4391 (pg. 23) Cerapedics. Cerapedics.com / (303) 974-6275 (pg. 9) ISASS. www.isass.org (pg. 6) NASS. www.nassannualmeeting.org (pg. 2) National Medical Billing Services. info@nationalascbilling.com / www. nationalascbilling.com / (866) 948-8001 (pg. 5) Pacira. www.exparel.com / (855) 793-9727 (pgs. 7-8) Paradigm Spine. www.paradigmnspine.com (pg. 3) Providence Medical Technology. www.providencemt.com/ASC / (415) 918-5250 (pg. 19) Hospitals Face Unprecedented Turnover, Attrition Rates: 4 Survey Findings By Tamara Rosin H ospitals today are facing higher turnover and attrition rates than ever before, according to a survey report from Leaders for Today, a hospital management staffing firm. What's more, increasing turnover isn't limited to certain healthcare jobs — it is affecting every role from the C-suite to the front desk and the front lines. Survey data from LFT show hospitals will need to replace nearly half of their staff every five years. is challenge is compounded by a shrinking talent pool as more hospital em- ployees retire. "is study confirmed what is the worst-case scenario for many hospitals, they are losing critical employees faster than they can replace them," said Bill Haylon, CEO of LFT. "e av- erage hospital has hundreds of open positions at any one time. How confident would you be in going to one of these facilities for care knowing they are so short-staffed at import- ant positions?" e report includes survey responses from 852 participants, including C-suite executives, clinical and non-clinical administration, staff physicians and staff nurses. e survey was administered in April 2017, to hospital work- ers across the nation. Here are four main takeaways from the survey. 1. Continuity in hospital employment is lacking. Nearly 43 percent of respondents reported they have been with their current hospital for fewer than two years and 65.7 percent said they have been with their hospital for fewer than five years. More than one-third (37 percent) of respon- dents plan to leave their current organization within the next two years and 68.6 percent plan to leave within five years. e rapid pace at which all hospital employees are switching jobs is widening the knowledge gap. 2. The current hospital environment promotes high turnover. More than a quarter (27.4 percent) of respondents left their job for a promotion or a better oppor- tunity for advancement. Another 14.4 per- cent left for better compensation. The larg- est proportion (58.2 percent) left for other reasons, such as long work hours, frustra- tion and burnout. 3. The growing proportion of retir- ing employees poses an additional challenge. As the workforce ages, hospitals are looking at a significantly smaller pool of experienced talent to fill retirees' positions. e survey found 47.7 percent of respondents indicated they plan to retire within the next decade, while 22.1 percent expect to retire within five years. 4. The hospital hiring process needs a tune up. According to LFT, it appears hos- pitals frequently lose candidates who land job opportunities more quickly elsewhere. Respondents cited speed and transparency as the top two frustrations with the hiring pro- cess. LFT suggests hospitals will be the most competitive for attracting top talent if they can optimize the hiring process and move quickly. n HCA to Change its Name — Again By Ayla Ellison N ashville, Tenn.-based HCA Holdings board of directors voted to rework the company's name, CEO Milton Johnson said on an earnings call. The company's new name is HCA Healthcare, effective May 8. Regarding the change, Mr. Johnson said, "Our new name is more reflective of our mission and the broad spectrum of care we provide to our communities and the dedication of our caregivers to our patients in our vast network of in- patient and outpatient facilities across our 42 U.S. markets and the U.K." The company will continue to trade under the ticker sym- bol HCA after the change takes effect. HCA has reworked its name several times over the years. Prior to HCA Holdings, the company's names included HCA Inc., Hospital Corporation of America and Columbia/ HCA Healthcare. n