Healthcare second largest sector hit by Great Resignation – Healthcare Finance News
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The Great Resignation hit the healthcare sector hard in November, and the numbers are colliding now with a steep rise in the number of COVID-19 hospitalizations.
The U.S. Bureau of Labor Statistics released job numbers yesterday showing that healthcare is among the top three industries cited in a 3% rise in the monthly “quits rate,” matching a high from September. The number of quits surged to 4.53 million for the month.
Quits increased in several industries with the largest increases in accommodation and food services (+159,000); healthcare and social assistance (+52,000); and transportation, warehousing, and utilities (+33,000), according to the Job Openings and Labor Turnover Survey (JOLTS) report.
Workers are reportedly leaving for better paying jobs that expose them less to COVID-19, such as positions that allow them to work from home. Demand for workers is allowing for increased mobility in the labor market.
WHY THIS MATTERS
The numbers coincide with an already strapped healthcare staffing market. Shortages and burnout among healthcare staff have long been documented.
Yesterday, American Hospital Association president and CEO Rick Pollack urged action to support and grow the nation’s healthcare workforce.
This includes enacting the Dr. Lorna Breen Health Care Provider Protection Act, (HR 1667), which unanimously passed the Senate on August 6, 2021, and passed the House of Representatives on December 8, 2021. The Act aims to reduce and prevent suicide, burnout and mental and behavioral health conditions among healthcare professionals.
Pollack also called for scrutinizing nurse staffing agency prices and lifting the cap on Medicare-funded physician residencies.
“A recent analysis shows there will be a shortage of up to 3.2 million healthcare workers by 2026,” Pollack said. “These shortages, combined with an aging population, a rise in chronic diseases and increased behavioral health conditions, all contribute to a national emergency that demands immediate attention from healthcare leaders and policymakers at every level of government.”
THE LARGER TREND
The shortages arise as the United States reported nearly 1 million new coronavirus infections on Monday, the highest daily tally of any country in the world and nearly double the previous U.S. peak set a week ago, according to Reuters.
Many of the new cases are due to the Omicron variant.
The number of hospitalized COVID-19 patients has risen nearly 50% in the past week. It now exceeds 100,000, according to data collected by Reuters, marking the first time that threshold has been reached in a year.
Twitter: @SusanJMorse
Email the writer: susan.morse@himssmedia.com
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