Survey: Majority of Healthcare Executives Foresee Better Organizational Health in 2024
12 Dezember 2023 - 3:00PM
After several tumultuous years, the majority of healthcare
executives (52%) expect better organizational health at their
facilities in 2024, according to a new survey by AMN Healthcare and
its Leadership Solutions division, B.E. Smith. This is up from just
37% of healthcare executives who predicted that their facilities
would experience improved organizational health in 2023.
“After weathering the storm of COVID-19, which combined the
double whammy of revenue losses with cost increases, many
healthcare executives are seeing somewhat brighter skies ahead,”
said Christine Mackey-Ross, President of AMN Healthcare Leadership
Solutions. “Revenues are returning and costs are stabilizing,
though the challenges facing healthcare executives today remain
serious and unpredictable.”
Now in its ninth year, the survey of more than 660 hospital,
health system and group practice leaders indicates that while the
picture may be improving, the primary long-term challenge facing
healthcare facilities remains financial. When asked to project what
factor would be the most disruptive to healthcare organizations in
the next three to five years, more healthcare executives (44%)
cited “financial constraints” than any other issue.
Top Three Revenue Enhancement Strategies
Healthcare executives were asked to identify the strategies they
plan to employ in 2024 to enhance revenues. The majority (56%) plan
to expand existing service lines, 45% plan to implement cost
reduction measures, and 38% plan to increase value-based
reimbursement. This is a departure from previous years in which
healthcare executives surveyed identified outpatient service
expansion, post-COVID revenue recovery, and telehealth development
as key growth strategies.
“Healthcare facilities have devoted considerable effort to
expanding outpatient services and offering patients more
convenience,” Mackey-Ross said. “Many are now refocusing on
expanding service lines that are proven revenue generators.”
Leadership Continuity in Jeopardy
The survey suggests that continuity among healthcare facility
leadership is likely to be tenuous in 2024. Two-thirds of
healthcare executives surveyed (66%) said they plan to seek a new
opportunity. Of these, 12% plan to seek a new position immediately,
62% plan to do so within the next 12 months, and 38% plan to do so
within the next three to five years.
“Virtually everyone in healthcare, from clinicians to healthcare
executives, has been under immense pressure due to the pandemic and
other factors,” Mackey-Ross said. “The result is a high level of
turnover that jeopardizes both administrative and clinical
continuity at many healthcare organizations.”
The survey indicates that healthcare executives seeking new
opportunities may have job offers from which to choose. The
majority of those surveyed (79%) said they have been approached
about a new job opportunity within the last six months. Sixty-two
percent of those surveyed said they were approached about a new
opportunity but did not pursue it, while 17% said they were
approached about a new opportunity and did pursue it. Only 21% said
they were not approached about a new opportunity.
High turnover rates may be one reason why 48% of healthcare
executives surveyed said that finding candidates for leadership
positions is extremely or very challenging, while only 18% said
finding candidates is only slightly or not at all challenging. An
additional 49% said that hiring candidates for leadership positions
is taking somewhat or much longer than it has in the past.
When asked what factors would be most likely to cause them to
stay with their current organizations, 45% cited organizational
culture as among the top two factors, while 41% cited
compensation.
Use of Interim Leaders
Over one quarter of healthcare executives surveyed (26%) said
their facilities use interim leaders. Typically, hospitals and
other healthcare facilities will use interim CEOs, CFOs, mid-level
managers and other executives to fill a vacancy until a permanent
leader is found. Of those healthcare executives who said their
facilities use interim leaders, 66% did so to temporarily fill a
vacancy. Interim leaders also may be used to manage an independent
project. Ten percent of those surveyed who use interim leaders did
so for this reason, while 21% used interim leaders to both fill a
vacancy and manage an independent project.
A copy of AMN Healthcare’s Healthcare Leadership Trends for 2024
survey may be obtained at
https://www.amnhealthcare.com/amn-insights/executives-leadership/blog/healthcare-leadership-trends/
About AMN HealthcareAMN Healthcare is the
leader and innovator in total talent solutions for healthcare
organizations across the United States. The Company provides access
to the most comprehensive network of quality healthcare
professionals through its innovative recruitment strategies and
breadth of career opportunities. With insights and expertise, AMN
Healthcare helps providers optimize their workforce to successfully
reduce complexity, increase efficiency and improve patient
outcomes. AMN total talent solutions include managed services
programs, clinical and interim healthcare leaders, temporary
staffing, permanent placement, executive search solutions, vendor
management systems, recruitment process outsourcing, predictive
modeling, language interpretation services, revenue cycle
solutions, and other services. Clients include acute-care
hospitals, community health centers and clinics, physician practice
groups, retail and urgent care centers, home health facilities,
schools, and many other healthcare settings. AMN Healthcare is
committed to fostering and maintaining a diverse team that reflects
the communities we serve. Our commitment to the inclusion of many
different backgrounds, experiences and perspectives enables our
innovation and leadership in the healthcare services industry. For
more information about AMN Healthcare,
visit www.amnhealthcare.com.
Media Contact Corporate
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Healthcare AMN-PR@amnhealthcare.com |
Investor Contact Randle Reece Senior
Director, Investor Relations & Strategy AMN
Healthcare (866)
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