Buy or Build? Solving the Nursing Shortage
Turning Your In-House Talent Into Tomorrow’s Nurses
Hospitals and health systems have traditionally bought a solution when trying to cope with nursing shortages. It could be a chronic nurse shortage caused by the supply and demand dynamics of their market. Or it could be an acute nurse shortage caused by a one-time pandemic or a “great resignation.” The “bought” solution for most hospitals and health systems was traveling nurses, temporary nurses or agency nurses.
The slower but cheaper option is to build a solution. But hospitals and health systems often don’t have the time, resources or competencies to build their own nursing schools to educate and graduate the numbers of new nurses they need to alleviate their nurse shortage now and into the future.
Today, provider organizations increasingly are exploring a third option: a built-for-you solution.
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The Numbers for Hospitals and Health Systems Don’t Add Up
For provider organizations hoping to reverse increases in their nurse turnover and vacancy rates, the numbers don’t add up. Supply is not keeping up with demand. Here are the numbers confronting hospitals and health systems with chronic and acute nurse shortages.
A New Market-Driven Strategy
It’s clear from the data that hospitals and health systems can’t build their way out of the nurse workforce shortage on any sort of sustainable basis. It’s also clear from the data that these organizations can’t build their way out either by themselves or by relying on traditional nursing schools. The answer is a market-driven, built-for-you strategy.