The talent shortage is arguably one of the most significant challenges hospitals face as we carry into the third year of the COVID-19 pandemic. The pandemic has stressed the issue of employee burnout and exacerbated the challenge of meeting the growing demand for healthcare services with an aging population. One way to attract employees and support the bottom line is to optimize pharmacy benefits.
RxBenefits’ VP of Strategic Markets & Advisory Services, Thatcher Sloan, sat down with Healthcare Business Today to share how hospitals can tackle the triple threat of staff burnout, labor shortages, and rising Rx costs, all while maintaining rich benefits.
The following is a brief excerpt. You can read more about these 3 strategies from Thatcher Sloan here.
As both employers and providers of healthcare services, there is also a higher expectation for hospitals to ensure their staff is well protected compared to other industries. Hospital employees at all levels work long hours in an environment where they are more susceptible to becoming sick, and healthcare providers want to protect employee health as much as possible.
With increased awareness about medical conditions and pharmaceuticals as well as convenient access to clinicians who can prescribe treatments, 70% of hospital plan members on average take prescriptions each year, which is 25% higher utilization than the typical commercial plan — further contributing to hospitals’ high costs.