Nurse Turnover Rates: Alarming Statistics and Their Implications for Healthcare
Nursing is a critical component of the healthcare system, and nurses play a vital role in patient care. However, in recent years, the nursing turnover rate has been on the rise, which is a cause for concern for healthcare providers.
Read on to learn more about the nurse turnover rate in the past few years and its impact on healthcare.
Nurse Turnover Rate in the Past Few Years
The nurse turnover rate has been on the rise in the past few years, with some alarming statistics. A study shows that around 800,000 nurses are planning to quit their jobs by 2027. This number is significant, as it is equivalent to about one-fifth of the current nursing workforce in the US, which is 4.5 million.
In comparison, about 100,000 nurses already left their jobs during the pandemic, which has raised concerns in the healthcare industry.
Its Impact on Healthcare
The average cost of turnover for a staff RN is $52,350, with the range averaging $40,200 to $64,500. This is up from the average cost of turnover for an RN in 2021, which was $46,100.
The nurse turnover rate has a significant impact on healthcare. When nurses leave their jobs, it creates a shortage of qualified healthcare professionals, which can lead to increased workload and stress for the remaining staff.
Each percent change in RN turnover will cost or save the average hospital $262,300 per year.
In addition, when nurses leave their jobs, it can also lead to a decrease in the quality of patient care and an increase in medical errors.
Supply is not Keeping up with the Demand
The trend in nursing turnover rates has been on the rise, and it is expected to continue. Based on projections by the U.S. Bureau of Labor Statistics (BLS), the country will need additional 203,200 registered nurses (RNs) each year from now through 2031.
However, the supply of nurses is not keeping up with the demand, which is contributing to the high turnover rates.
How Nurse Triage Can Help with the Nurse Turnover Issue in Healthcare
Nurse triage can help with the nurse turnover issue in healthcare by providing support to the nursing staff.
By partnering with a nurse triage company, nurses can delegate non-critical tasks to other healthcare professionals, which can help reduce their workload and stress levels. In addition, nurse triage can help improve the quality of patient care by providing patients with timely access to the appropriate level of care.
For more information on how Access Nurse can help supplement your nursing staff click here.