If you’re searching for irony, the United States healthcare industry being sick should fit the bill pretty well. While healthcare companies big and small have good intentions when it comes to serving the public’s health, it’s undeniable that there still exist a myriad of issues around healthcare financing. Complaints from less-than-happy nurses and other healthcare workers largely contribute to the flaws of this vitally important industry, and the “for-profit” aspect of the U.S. healthcare system has also sparked a great deal of controversy. All things considered, it’s clear that healthcare is far from perfect.
Healthcare Receivables Financing For Your Healthcare Business
Fortunately, there are ample healthcare financing solutions available in the form of working capital and cash flow problem solutions. As one of the industry’s most trusted asset-based lending companies, The Commercial Finance Group has worked with many small businesses and healthcare companies to help them grow, stabilize and achieve a healthier cash flow balance. Does your healthcare company need assistance? We can help fix your cash flow problems. Read more about healthcare financing today!
Now, in addition to working capital and financing issues, let’s look at some of the most common issues facing healthcare employees.
Work Overload
When it comes to employee turnover in the healthcare industry – especially nurses – working long, demanding hours and 15+ hour shifts is simply not sustainable. A CareerBuilder survey reported that some 40 percent of healthcare workers felt challenged by work overload in their position, and that number jumped to 48 percent when the pool was limited to only nurses. A shortage of nurses and other healthcare employees is at least partially to blame for these findings, as less labor forces require more hours out of each individual.
A Lack Of Sufficient Training
It happens in many different industries; inadequate training can leave employees frustrated and confused about their job description and associated responsibilities. The above CareerBuilder survey concluded that nurses, more so than any other position in a healthcare business, are “more concerned with doing their job well in a good environment than with the amount of money they make.” This suggests that training is essential to improving job performance and overall satisfaction for employee and patient.
Not Spending Enough Time With Patients
While it’s fair to say that some nurses spend a little too much time with certain patients, some 20 percent of healthcare professionals reported that they were spending inadequate amounts of time with patients. When asked about the number of providers per patient in another CareerBuilder poll, nearly 70 percent of nurses said that the provider-patient ratio had worsened during their time as a nurse. It is believed that the lack of time with patients may be exacerbated by an overload of administrative tasks or non-clinical assignments, pulling nurses away from otherwise valuable face-to-face time with the patient at hand.
Limited Or Poor Access To Technology
Struggling to properly implement technology while maintaining efficient operations is a healthcare issue that’s more important than ever before, and workers may be suffering as a result. According to the above CareerBuilder poll, nearly a quarter of healthcare respondents said that they had insufficient access to technology with some 29 percent of registered nurses also feeling similarly. As the importance of technology continues to grow in our everyday lives, the integration of technology and healthcare systems must be streamlined and treated more seriously.
Poor Salary Among Healthcare Employees
Working long, demanding hours is one thing if you’re paid handsomely for it, and another thing if you’re unmotivated or working for unfair pay. Forty percent of the above survey respondents believed that poor salary was an issue at their jobs, with poor company culture and organization following at 37 percent. What’s interesting is that while inadequate pay in healthcare service positions is a valid concern, the poll suggests that creating a work environment where employees are encouraged to pursue goals is more important than providing competitive pay. Even more interesting is that fact that, for nurses, poor salary was less of an issue compared to other healthcare workers. 35 percent of nurses cited salary as a problem compared to 42 of other healthcare employees who felt the same way.
A Lack Of Genuine Advancement Opportunities
While pay is the primary motivator and main reason behind…well, working just about any type of job, a clearly defined career path showing tangible progress and advancement is also very important. Just over half of healthcare employee survey respondents said that the lack of advancement opportunities posed a significant challenge or lack of motivation to excel in their current or previous position. When it comes to furthering people’s career in the healthcare industry, employee development programs like in-house skills training, education reimbursement, technology training and opportunity for innovation are extremely important.
A Bad Connection With Superiors
No matter the industry or what your position is, it’s very difficult to perform well or feel comfortable at work when you don’t get along well with your boss. Unfortunately, almost one-quarter of healthcare respondents felt that they suffered from a poor personal fit with their immediate supervisor. In terms of a poor personal fit with colleagues and co-workers, only 10 percent of healthcare employees felt this way. Naturally, it only makes sense to befriend your fellow co-worker as opposed to the boss holding power over your position, but alas, we digress.
Effective Funding Solutions For Healthcare Organizations
From hospitals to private healthcare practices, The Commercial Finance Group can help you troubleshoot and overcome your cash flow issues. Contact our Atlanta healthcare factoring company today to learn more about healthcare accounts receivable management and other financial solutions.
