A 2018 Guidehouse/HFMA analysis suggests continued clinician shortages may be challenging hospital leadership to reduce labor costs. According to the survey of more than 100 CFOs and operations execs:

• Current nurse and physician shortages represent areas of both the largest increases and reductions compared to a year ago, but mental health provider shortages may represent the direst situation.
• 78% of execs predict an increase in labor budgets over the next year, with almost 1-in-5 projecting surges of 5%+; Just 14% predict decreases, none more than 5%.

In this podcast episode, Guidehouse Managing Director Danielle Dyer and Director Vamshi Gunukula discuss these survey results, including how the shortage of these specialized positions is likely causing hospitals to project higher labor budgets in the coming year. They also suggest how predictive analytics, proactively matching staffing to patient care demand, and more efficient workflows can help providers address these challenges.