Posts by Kyle Worthy
The fairness factor: How to avoid agitation around nurse pay
The fairness factor: How to avoid agitation around nurse pay MaxWorth got its start designing healthcare compensation strategies nearly two decades ago when call pay was one of the most contentious topics in the industry. We quickly learned that a perceived lack of fairness was at the heart of nearly every conflict we were brought…
Read MoreBalancing penalties and rewards in benefits for health care providers
Balancing penalties and rewards in benefits for health care providers NBC News recently reported that it’s becoming common for hospitals to require nurses to pay back the cost of their training if they choose to leave or are fired within a certain amount of time. These costs can amount up to $15,000, so they represent…
Read MoreHidden opportunities to reduce healthcare labor cost
Hidden opportunities to reduce healthcare labor cost In January, KaufmanHall reported that 2022 was the worst financial year for hospitals and health systems since the start of the COVID-19 pandemic. December saw an increase in provider productivity, but it simply wasn’t enough to outweigh cost increases. Expenses likely to remain high Our clients…
Read MoreBenefits for an aging physician population
Benefits for an aging physician population The AAMC’s 2022 Physician Specialty Data Report found that nearly half of physicians currently practicing are aged 55 or older. An aging physician population places pressure on recruitment and retention in many ways. Healthcare leaders might be asking themselves: Are young people encouraged to pursue medicine? How will years…
Read MoreThe future of call pay
The Future of Call Pay Healthcare is always changing, and the pandemic accelerated change in many ways. Healthcare leaders and physicians might be wondering how recent changes will impact call pay. Let’s take a look at the origin of conflict over call pay, factors that are perpetuating it, and why we believe call pay will…
Read MoreMaxWorth’s longest running call pay program is better than ever
MaxWorth’s longest running call pay program is better than ever More than fifteen years ago, Winchester Medical Center became MaxWorth’s first healthcare client when we helped them solve a call pay conflict that was threatening their ability to staff their emergency department. Today, the hospital’s call pay program is just as valuable to the organization…
Read MoreMaxWorth Insights: The Call Pay Solution Anniversary
MaxWorth Insights: The Call Pay Solution Anniversary A conversation with Steve Worthy, Max Hockenberry and Dr. Tom Oliver MaxWorth Consulting Group, LLC · The Call Pay Solution Anniversary Celebrating the anniversary of our longest-running call pay program On this episode of MaxWorth Insights, we’re celebrating the anniversary of our first call pay program with the help…
Read MoreNurse compensation: Know what benefits matter most
Nurse compensation: Know what benefits matter most Nursing turnover rates are increasing. In 2019, they stood at 18%, and by 2021, they had risen to 22%. Today, that number has reached 37% in some areas. The full extent of the pandemic’s impact on nurse retention is yet to be seen, and the shortage is already…
Read MoreNursing benefits and the power of appreciation
Nursing benefits and the power of appreciation The US Bureau of Labor Statistics estimates that 203,200 additional nurses will be needed in the workforce each year from now until 2031. This shortage is impacted by the growing number of nurses reaching retirement age, high turnover rates, and increased demand due to the aging population and…
Read MoreNursing Retention: Tailored benefits may be part of the solution
Nursing Retention: Tailored benefits may be part of the solution The correlation between nurse-to-patient ratios and patient outcomes has been well documented. So, the growth in nursing turnover is not a good omen for the trajectory of quality of care in America. Our nurses are concerned, and many are making demands, hoping that higher wages…
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