According to the latest findings of Association of American Medical Colleges (AAMC), the US healthcare industry will experience a shortage of nearly 40,800 to 104,900 doctors in the next decade. The ever increasing need for healthcare workforce is primarily driven by factors such as altering demographics, evolving urban lifestyle and socio and economic policies. Also, the expanding pool of geriatric population across the globe is partly responsible for this incessantly growing demand for caregivers.
Shortage of resource is not new in the healthcare sector, for many years now, organisations have been trying to find ways and means to overcome this perilous crisis. Therefore, the concept of contingent or temporary hiring appears to be a timely solution to check such disparities between demand and supply in the medical world. To avoid management fallouts, the industry is compelled to adopt to such contemporary models of operation that are more economical and efficient. Dearth of skilled labour is another issue, which has been crippling the industry for a long time. Consequently, contingent staffing can make it easier for recruiters to know employee competency as they can try out new talents before hiring them on permanent payrolls.
Hiring is an expensive process that requires a dedicated HR department and versed talent recruitment officers. Right from sourcing to interview to training of new appointees, it entails a considerable amount of investments. Hence, making wrong selections can often lead to additional cost burdens. Post-recession, organisations are showing a higher preference for temporary workers. Apparently, workforces that are hired on contractual basis have lower initial costing as compared to permanent employees, which is why organisations are inclining towards contingent contracts. In addition, such contracts may hold work period extension benefits based on the employee performance or project requirements. Talent recruitment companies play a crucial role in healthcare as organisations prefer posting their requirements through thirds party recruitment firms. Owing to which, these firms are actively focusing on improving their service offerings to meet client expectations. For instance, a leading talent management and staffing solution provider ‘HealthcareSource’ is on the verge of acquiring Centricity Contingent Staffing from GE Healthcare. The deal is likely to bring nearly 3,300 new clients to HealthcareSource, which will certainly help it broaden its footprint across the industry.
‘Centricity’ offers capabilities such as payroll and billing processing, worker profile and credential management, operational and gross financial analytics, client profile and contract management, onboarding and competency validation, travel staffing workflow and compliance validation and enforcement. This acquisition will allow the company to offer comprehensive solutions to the entire talent recruitment sphere existing within healthcare. Besides, Centricity’s advanced recruitment management technology will certainly complement HealthcareSource’s existing operations.
Regardless of all the setbacks, the healthcare industry continues to expand. A new data released by The US Bureau of Labor Statistics (BLS) reveals that the country’s Health care employment rose by 27,000 in February 2017. Adoption of the contingent hiring process in many of the organisations has partly driven this growth. Meanwhile, their use has also afforded health systems in responding more efficiently to patient needs and make calculative decisions.