Incentives can help the healthcare sector tackle staffing challenges

The healthcare industry is experiencing a severe shortage of workers across all types of roles, from physicians to nurses to home health aides. The shortage is expected to worsen over the next decade as Baby Boomers age and require more care, just as many healthcare workers reach retirement age themselves.

The causes of the shortage are complex. An aging population means more patients requiring care. The stressful nature of many healthcare jobs leads to high rates of burnout and workers leaving the field early. Plus, there have not been enough new healthcare workers trained to meet the growing demand.

Here’s a look at several concrete incentives policymakers and health systems should consider:

Scholarship programs: Offering scholarships, stipends, or full tuition coverage to medical, nursing, and residency students can offset the high costs of their training. Recipients would commit to serving in high-need specialties or under-served communities for a set period after graduation. Some state programs already do this quite successfully.

Tuition reimbursement programs: Tuition reimbursement can be tailored to the needs of a particular organization and can support career growth for current staff.

Earn-while-you-learn or sponsorship programs: These types of programs allow students to continue to support themselves while training for the next level of certification and allow the hospital or health system to expect a steady stream of qualified talent.

Student loan repayment/forgiveness: Similarly, offering federal or state loan repayment help for graduates working in shortage areas provides financial relief while directing workers where they are most needed geographically and by specialty.

Signing/retention bonuses: Health systems and clinics can offer thousands in upfront bonuses for nurses, medical assistants, and technicians to attract candidates and keep them on staff once hired. This is becoming more commonplace in the competitive job market.

The costs of these incentives pay for themselves if they help avert an even more damaging worker shortage in the healthcare sector. In the long run, they ensure patient care access, provider revenue, and good jobs for healthcare employees.