HEALTHCARE SUPPLY AND DEMAND IMBALANCE
The supply and demand imbalance in healthcare became apparent in the last 2 years when the pandemic started. The global health crisis posed a threat not only in the overall health of the entire human population, but also on the availability of healthcare professionals catering the needs of the patients. During the surge of the pandemic, a large portion of the population needed immediate care due to being infected with COVID-19 with no vaccines available and with limited treatment options. Not to mention, healthcare workers were also getting infected with the virus while on the job, which decreased the number of working hospital staff all the more. The demand for healthcare workers significantly increased while the supply remained the same, and in other accounts, decreased. In this instance, the remaining workforce in healthcare shouldered more patients than they could – patient to healthcare worker ratio further disproportioned which led to an imbalance in the demand and supply chain of workforce in the healthcare system.
FACTORS LEADING TO LABOR SHORTAGE
Several factors were noted to contribute to the growing labor shortage the world is facing. While this labor crunch existed even before the pandemic, the COVID-19 surge exponentially increased this problem – with burnout among healthcare workers during the pandemic as a leading factor in what is known as the “Great Resignation”, wherein a large number of employees are resigning voluntarily. Insufficient staffing and long hours spent away from home during the pandemic highlighted the burnout felt especially by the healthcare workers on the frontlines.
According to a new survey by Pew Research Center in 2021, “About a quarter of non-retired Hispanic and Asian adults (24% each) report quitting a job last year; 18% of Black adults and 17% of White adults say the same.”. They also conducted an analysis on the same year and found that “When asked separately whether their reasons for quitting a job were related to the coronavirus outbreak, 31% say they were. Those without a four-year college degree (34%) are more likely than those with a bachelor’s degree or more education (21%) to say the pandemic played a role in their decision.” (Parker & Horowitz, 2022).
Aside from the pandemic being a major contributor to the global labor shortage, another major cause has been identified. The aging population today, otherwise called as the “baby boomers”, has contributed to the rising demand for healthcare workers. A proportion in the older people are growing in number. As people age, chronic illnesses may arise and the need for care may also increase. Additionally, healthcare employees in their generation are approaching retirement age, necessitating the need to be prepared to replace them with a new batch of trained healthcare experts when the time comes. World Health Organization (2021) stated that “By 2030, 1 in 6 people in the world will be aged 60 years or over.”.
HOW CAN OUTSOURCING HEALTHCARE HELP DURING THESE TIMES?
The shortage of workforce in healthcare also weighs heavy on currently employed healthcare workers – work overload has been tough not only on their physical health but on their mental health as well, leading to burnout. Outsourcing healthcare offers different services that cater to the needs of healthcare workers to help decrease the burden of balancing multiple tasks at a time.
Here’s how outsourcing healthcare can help mitigate labor shortage in the healthcare industry:
- Improved Patient-Centered Care – outsourcing healthcare can help relieve excess workload on healthcare workers. Administrative tasks require a lot of time to accomplish, thus decreasing time spent on actually treating patients. Through outsourcing, in-house healthcare workers are able to narrow their focus and deliver quality care to patients.
- Increased Retention of Healthcare Employees – being able to readjust their focal point to the heart of their profession, healthcare workers perform better in their current position. Improved quality of work also leads to increased patient satisfaction, which goes hand-in-hand in giving a sense of fulfillment both for patients and healthcare workers.
- Optimized Outcomes for Agencies – overall, agencies have better outcomes when outsourcing healthcare. Healthcare outsourcing companies have the necessary resources to efficiently complete various tasks – from administrative duties to medical expertise. Transitioning won’t be a problem because these are all trained and skilled professionals, updated with the latest regulations and protocols to ensure accuracy in all required tasks. Time spent on training support staff could instead be focused on creating an environment where their in-house healthcare employees thrive. This also helps healthcare agencies cut down on cost.
The global labor shortage may still exist beyond the pandemic, so it is imperative to act now. Deciding to outsource healthcare may be your best choice yet.
REFERENCES:
- Parker, Kim, and Juliana Menasce Horowitz. “Majority of Workers Who Quit a Job in 2021 Cite Low Pay, No Opportunities for Advancement, Feeling Disrespected.” Pew Research Center, https://www.pewresearch.org/fact-tank/2022/03/09/majority-of-workers-who-quit-a-job-in-2021-cite-low-pay-no-opportunities-for-advancement-feeling-disrespected/. Accessed 20 Apr. 2022.
- News, A. B. C. “Pandemic Has Made Shortage of Health Care Workers Even Worse, Say Experts.” ABC News, https://abcnews.go.com/US/pandemic-made-shortage-health-care-workers-worse-experts/story?id=77811713. Accessed 20 Apr. 2022.
- World Health Organization. (2021, October 4). “Ageing and health”. Retrieved April 25, 2022, from https://www.who.int/news-room/fact-sheets/detail/ageing-and-health
