Nurse Retention Important to CFO’s and Other Healthcare Executives

Written by LeAnn Thieman, CSP, November 13th, 2014

Nurse retention has become an important issue to all hospital executives, not just the CNO. In the past, finance looked to nursing to get everything done cheaper. Nursing was a cost to the organization and nurse leadership wasn’t taken into account. Today, finance better understands that nursing has an impact on revenue loss prevention.

Healthcare CFOQuality of care impacts the revenue stream and nurse leadership always emphasized quality of care. For example, under new reimbursement rules, hospitals are not paid for hospital-acquired conditions. This potential revenue loss has opened the eyes of the finance team, and they better understand that good quality care makes a difference in cost control.

The nursing shortage has awakened hospital CFO’s to the importance of keeping staffing vacancies filled. Conditions are better now, but a nursing shortage of crisis proportion is looming. Forward thinking hospitals and health systems identify why nurses are joining and/or leaving their organizations. Such information improves nurse retention.

For more resources to increase nurse retention and nurse recruitment, visit SelfCare for HealthCare™. Contact me today to discuss how we can implement this powerful program to improve the overall health of your facility.

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