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Patient Share of Care: The Revenue-Based Metric Every Health System Needs
Despite the financial blows delivered to the country’s healthcare systems during the past two years, many organizations continue to operate in a predominantly fee-for-volume environment while slowly transitioning towards a value-based care model. However, its well known that you can’t ride two horses at the same time. This idiom holds true in healthcare as systems struggle to flip the healthcare paradigm from volume to value. Uniform patient growth and retention strategies simply can’t thrive in care environments with divergent business models. -
Mayo Clinic addresses employees' disappointment over 2% raise with multiplier
After announcing raises earlier in January, Rochester, Minn.-based Mayo Clinic is responding to employees who were disappointed in the amount, according to the Post Bulletin. -
13 recent investments in hospital employee retention, recruitment
Several states, hospitals and health systems have made investments to retain and recruit employees as the nation deals with a major workforce shortage. -
South Carolina hospital offers employees up to $10K for homebuyer assistance
Beaufort (S.C.) Memorial Hospital has created a homebuyer assistance program to help staff purchase a home or refinance mortgages, with up to $10,000 in assistance. -
Mayo Clinic to give 2% raise with multiplier
Rochester, Minn.-based Mayo Clinic will provide its employees with a 2 percent raise in 2022 with a 2.75 multiplier, which is the same as the raise they received in 2020 before the pandemic and less than the national trend, the Post Bulletin reported Jan. 18. -
11 hospitals with payment problems since Kronos attack
Workers at 11 hospitals are still experiencing payment issues from the Dec. 11 ransomware attack on Kronos Private Cloud, according to news reports. -
UC Health bumps up minimum wage to $15 an hour
University of Cincinnati Health has boosted minimum wage to $15 an hour and is providing market pay adjustments and an incentive program for employees, The Cincinnati Enquirer reported Jan. 10. -
Texas hospital offering nurses $20K sign-on bonus
Corpus Christi (Texas)-based Christus Spohn Health System is offering up to $20,000 sign-on bonuses at a nurse recruiting event Jan. 12. The event will be held at its Shoreline Hospital. -
December ransomware attack cited in pay delay for healthcare workers in 3 states
A Dec. 11 ransomware attack of Kronos Private Cloud continues to delay pay for healthcare workers in three states, according to news reports. -
Rural hospitals struggling to match rising pay among nonindustry competitors
U.S. hospitals, especially those in rural areas, are struggling to match employee pay with large retailers such as Walmart, Bloomberg reported Jan. 7. -
Connecticut $34M relief program to cover lost wages, other expenses for essential workers
Connecticut Comptroller Natalie Braswell and the general assembly's labor committee released a $34 million relief program Jan. 3 for essential workers, which covers lost wages, out-of-pocket medical expenses and COVID-19 burial costs, the CT Mirror reported. -
Iowa paying Favorite Healthcare $330 per overtime hour for its travel nurses
Iowa is paying the staffing firm Favorite Healthcare $220 per regular hour and $330 per overtime hour for travel nurses who will work in healthcare facilities across the state, The Gazette reported Dec. 24. -
New York City employers must list salary ranges in job postings starting in April 2022
Employers in New York City will be required to include salary ranges for any advertised job, promotion or transfer opportunity under a law passed by the New York City Council. -
10 most read compensation stories in 2021
Stories about salary rankings and healthcare CEO compensation were popular among readers this year. -
Inflation outpacing growth in physician compensation, Doximity analysis finds
Average pay for physicians increased by 3.8 percent in 2021, but the inflation rate measured by the Consumer Price Index was 6.2 percent, according to Doximity's "2021 Physician Compensation Report" published in December. -
5 recent investments in employee retention, recruitment
As hospitals and health systems struggle with staff shortages, several are making investments to retain and recruit employees through education, tuition and student loan reimbursement and compensation. -
You Can’t Wait Forever – Provider Compensation and the Medicare Physician Fee Schedule
Organizations that have not already transitioned to using wRVUs from the current Medicare Physician Fee Schedule (MPFS) should plan to make the switch sooner rather than later. -
Women's wage growth outpacing men's
The economic situation for women may be improving since the beginning of the pandemic-induced recession, Intelligencer reported Dec. 15. -
Crozer Health unveils student loan forgiveness program for employees
In an effort to retain and recruit workers, Springfield, Pa.-based Crozer Health will provide some employees with student loan repayment of up $10,000 annually per person to a maximum of $50,000 over five years. -
Physician, RN pay in the US by the numbers
Physician and registered nurse pay varies by specialty, gender and ownership, several recent studies and surveys reported by Becker's found.
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