4 Ways to Reduce the Impact of High Administrative Expenses

Providers nationwide are greatly impacted by the nursing shortage. Administrative expenses for staffing — such as benefits, insurance, retention bonuses, hiring bonuses and headhunter fees — are soaring. At the same time, many nurses are leaving the profession as burnout reaches new heights. As a result, 81% of healthcare CFOs say the talent shortage poses a risk to their business in 2022. With reimbursement rates remaining static, providers need a way to manage the increasing administrative expenses.