Occupational burnout costs a hospital with 50 pharmacists an estimated $269,580 in turnover expenses, according to the American Society of Health-System Pharmacists' burnout calculator.
The calculator estimates the cost of occupational burnout by considering the number of pharmacists within an organization, turnover and occupational burnout rates, average salary and turnover costs.
For pharmacists, the mean turnover rate is 10.9%, the occupational burnout rate is 64% and the average salary is $134,790. Turnover costs amount to 200% of the average employee's salary, based on the tool’s calculations.
Using these averages, burnout-related turnover in a hospital with 50 pharmacists would result in 2.13 pharmacists leaving their positions, leading to $573,351 in additional costs.
The ASHP announced the calculator's launch in early September, according to social media posts. The tool also calculates burnout costs for pharmacy technicians and estimates the return on investment for burnout interventions.