In the United States, the average cost of bedside nurse turnover is estimated at over $56,000, representing an average loss of up to $5.8 million per hospital.
In the current healthcare scenario, staff turnover, especially nurses, has been a major concern for hospital managers. The 2024 NSI National Health Care Retention & RN Staffing Report, published by NSI Nursing Solutions, Inc.1., provides a comprehensive overview of turnover rates, associated costs and retention strategies within the hospital environment.
The continued demand for healthcare professionals, driven by an aging population and growing care needs, is out of step with the supply of qualified nurses. The turnover rate for registered nurses (RNs) in hospitals was 18.4% in 2023. This phenomenon not only affects the continuity of patient care but also imposes substantial costs on hospitals. The average turnover cost for a bedside nurse is estimated at US$$ 56,300, representing an average loss of US$$ 3.9 to US$$ 5.8 million per hospital.
Nurses working in areas such as telemetry, emergency services, and post-anesthesia care units have the highest turnover rates, perhaps reflecting the unique stress and demands of these environments.
In contrast, areas such as pediatrics, surgical services and burn centers record the lowest turnover rates, suggesting that factors such as job satisfaction, work environment and the specialized nature of the work itself can positively influence employee retention.
The RN Recruitment Difficulty Index revealed that, on average, it takes about 86 days to hire an experienced nurse (RN), highlighting the challenges hospitals face in filling essential positions in a timely manner. This extended hiring time not only delays needed staff reinforcements, but also increases reliance on temporary and agency nurses, which are more expensive solutions.
Given the severity of the problem, the report emphasizes the importance of effective retention and recruitment strategies: residency programs for nurses, retention bonuses, salary increases and, most importantly, improved working conditions.
In this sense, it is crucial that hospitals adopt management practices that promote a positive work environment and support nurses’ well-being. This includes ensuring manageable workloads, promoting the correct use of professionals and offering technological support.
THE Neonpass Room, HOOBOX's healthcare solution digitizes all healthcare stations and communication between professionals and patients, preventing more than 60% of all patient requests from being sent to nursing, relieving the sector and allowing these professionals to have more time for their healthcare work.
The 2024 NSI report serves as a reminder of the vital role nurses play in the healthcare system and the significant impact their turnover has on hospital outcomes and patient care. As the industry faces these ongoing challenges, adopting effective strategies like Neonpass Room could be a great option to validate. Consult our team to learn how your hospital can test the solution at POC.
SOURCE: https://www.nsinursingsolutions.com/Documents/Library/NSI_National_Health_Care_Retention_Report.pdf
