One of the more vital functions in society is that of healthcare.
We rely on this industry for our most important needs related to ourselves and our families. However, the healthcare industry is in a significant season of change, which affects not just how citizens of the nation interact with medical providers, but how these practices operate on the inside.
"With a myriad of tax, law, and technology updates, those who oversee personnel, insurance and regulatory procedures are feeling a sting and are in need of relief."
These hurdles and their solutions will change how the industry operates, and those who are early adopters will reap the rewards in human capital management.
Need for Talent
There has been a continued lack of nurses and doctors available to fill medical practices across the nation. With a growingly health-conscious society, an aging population, and the general subpar health of most Americans, now more than ever do we need doctors and nurses to help fix our citizens.
Some reasons for talent shortages include:
- Tougher immigration policies
- Need for specialized focuses
- Decreasing talent pool
To aid in attracting and recruiting the right people with the right skills, Human Capital Management Solutions can provide fully integrated features that can narrow down the right candidates from a larger pool of potential people. Along with the extended reach, and a fine-toothed comb, these systems work to create easy ways to engage with prospective new hires via a modernized application method, background screening, interview process, and feedback system.
Taking an applicant from resume through onboarding in one quick and easy operation will provide a competitive advantage, helping you attract the people you want, and retain them before someone else makes them an offer.
When the Affordable Care Act was introduced, it completely revamped the healthcare system in America. Hospitals, medical practices, and other wellness-related businesses were scrambling to make the necessary changes. Those who employed an HCM solution with up-to-date technology and a proactive approach to the impending changes saw a smoother transition in a time of unrest.
Now under the Trump administration, plans to amend Obamacare are in the works. While we probably won't see a complete repeal as mentioned back in 2016 and 2017, there are still several modifications that will most likely require system changes to human capital management solutions.
Providers of HCM software who remain steadfast in anticipating the moves of the government will offer quick turnaround when changes are made to the healthcare laws in the country and will offer peace of mind to the practices they work with so closely.
As one of the top industries dealing with sensitive data in our nation, and with the severity of the work performed, medical practices must stay vigilant in protecting the people. On the front line of this effort are their employees. From medical coding to highly decorated doctors, performance and privacy are critical to avoiding lawsuits and retaining trust with their clients.
From specialized training to performance reviews, there are several ways healthcare employers can encourage and track the progress of their practitioners and staff. Having an all-in-one HCM solution that offers performance tracking can provide and one-stop-shop for all information related to employees and their job performance and requirements, regardless of their status. Implementing such a system can alleviate the stress HR departments feel when managing multiple departments with various requirements.
As with most positions, there is a need for reporting and metrics in HR and healthcare. Data that can measure not only budgets and pay rates but also performance and productivity is essential to the goals of an HR department and the business itself.
Several software features within an HCM solution provide data analytics that can quantify some of the soft skills and other people goals that are directly related to the success of employees, the department, and ultimately the business.
With the speed at which technology makes advances, it may seem impossible to keep up with the latest changes in the industry. For healthcare, technological advancements come hard and fast. While new equipment and medical machinery work toward advancing medicine itself and reducing errors in treatment, the back office is feeling the pressure to stay on top of the tech world as well.
"There is a push for all medical records to be made electronic, easily transferable, and accessible to patients and their physicians, while simultaneously keeping them private and safeguarded from the rest of the world."
The task feels impossible at times, but requires a strong IT department and the right HCM provider. Healthcare needs HCM systems that offer advanced security features, a friendly user interface, and innovative features to keep up with changes in IT. Plus, there is a need for a system that will integrate with other programs already in use in the medical practice.