Employee turnover is quite costly to many inpatient psychiatric facilities and continues to rise. The cost of losing patient-facing staff is estimated in the tens of thousands of dollars per employee. The turnover of a single physician represents a $200,000 to $1 million loss for an organization, according to a 2016 report from B.E. Smith/AMN Healthcare.
Turnover costs are realized directly and indirectly. Here are some of the costs associated with losing a patient facing staff member:
⦁ Recruitment expenses
⦁ Training
⦁ Loss of expertise and productivity
⦁ Overtime pay to cover shifts
⦁ High cost of agency & travel nurses
⦁ Continuity of patient care and outcome
⦁ Associated hospital readmission
⦁ Patient satisfaction scores
⦁ Accident rates
⦁ Employee morale
Additionally, salaries of medical staff continue to rise, further squeezing margins.
Moore Medical Group helps bolster a facility’s own employee retention efforts to reduce the high cost of provider, nursing and behavioral health technician turnover. Stress associated with caring for psychiatric patients is commonly cited as a major reason employees leave Psychiatric facilities. We offer training courses that help empower staff in their work with the unique co-morbidity medical conditions most common to psychiatric patients. “Mentoring” that happens organically through daily contact with MMG providers, reinforces course content and provides additional insights on effectively caring for behavioral health patients.
The way MMG provider Bev tells it, “it’s not just about caring for the patient. I need to take care of the nurses and behavioral health technicians that are there when I am not, so that they stick around. This is ultimately in the best interest of everyone.”
Bev continues; “Compassion comes from understanding, so it’s to our patients’ benefit for me to take the time to teach hospital staff how to relate to the place of our patients’ emotional or physical pain and give the staff the skills to effectively cope with psychiatric patients. This is an especially important part of my job.”
Moore Medical Group University current course offerings include:
- Medical Emergencies 01 (Chest Pain)
- Diabetes
- Hypertension
- Asthma
These courses, coupled with daily interaction with our MMG expert providers, as part of your retention program, will go a long way in reducing labor-related, as well as patient-centric costs, while significantly increasing the quality of patient care.
