What is the Cost of an Open Position at a Medical Facility?

Cost of an Open Position

If you lead a medical team, you likely know firsthand the toll that an unexpected vacancy can have on your facility’s productivity, operations, and bottom line. When it comes to vacancies, there are many costs associated with open, unfilled positions that can have detrimental effects on a medical facility. Ranging from monetary costs to workplace culture drawbacks, vacant positions can have disastrous outcomes on how your facility functions on every level. Here are some of the negative implications – and why a locum tenens provider can alleviate these issues:

Increased risk of turnover

When vacancies remain unfilled for extended periods, your facility is likely to undergo turnover as a result of increased burnout and stress levels among existing staff. Members of your team who are expected to pick up the slack and take on the responsibilities of an unfilled position will quickly become stressed, overworked, and even resentful of the additional burdens. By bringing on board a locum tenens provider, you can successfully maintain a healthy work-life balance for your team and ensure workflow is uncompromised.

Financial impact

The loss of even just one provider within a medical unit can result in a significant financial impact, from recruiting expenses to productivity loss. When a practice is short-staffed for any substantial length of time, there is bound to be a loss of revenue. Taking measures to improve retention, as well as employing the support of locum tenens providers, can prevent a major financial loss, limiting the amount of time a vacancy stays open and incurs more costs for your facility.

Professional development

With locum tenens staff working in your facility, your staff will have a chance to learn from potentially dozens of mentors – including managers and colleagues – who can show your team new techniques and ways of practicing medicine. This can be a powerful way to acquire new skills and grow your areas of expertise, expanding your team’s qualifications and making you, as a leader, a more marketable medical professional. Without new perspectives coming into your facility now and then, your staff are missing out on these chances for collaboration and growth.

There’s no denying that a vacancy can have costly effects on your facility over time. Fortunately, locum tenens providers can help alleviate the negative effects of an unfilled medical position, allowing your facility to continue operating at its highest level.

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