How COVID-19 reshaped the health care industry

Summary

In the ongoing pandemic, the healthcare sector continues to face challenges in hiring, with 37,000 jobs created in July alone. Janet Elkins, CEO of Icon Medical Networks, discusses the difficulty in finding talent due to burnout and the impact on future healthcare professionals. She highlights the importance of work-life balance and the rise of temporary staffing solutions like locum tenens to address this issue. Additionally, the urban-rural disparity in healthcare staffing is addressed, with innovative measures being taken to attract professionals to rural areas.

Takeaways

• 😷 The healthcare sector added 37,000 jobs in July, indicating a strong demand for healthcare workers despite the ongoing pandemic.
• 🔍 There is a significant challenge in finding the necessary talent within the healthcare space, with many workers feeling burnt out from the pandemic.
• 📈 Janet Elkin, CEO of Icon Medical Networks, anticipates an increase in healthcare job creation in August, reflecting the growing need for healthcare professionals.
• 🌐 Burnout is affecting not only current healthcare workers but also potentially the next generation of professionals, impacting the talent pipeline for the industry.
• 🏥 Healthcare is growing with new segments emerging, such as urgent care clinics, presenting opportunities for those interested in the field.
• 🌟 Despite the challenges, there is a lot of opportunity in healthcare, and it's important to highlight the positive aspects of the profession to attract new talent.
• 🧘 Work-life balance is becoming a key factor for the next generation of healthcare professionals, influencing their career choices and preferences.
• 🔄 The rise of locum tenens firms, which provide temporary staffing for physicians, reflects the desire for flexibility in work schedules among healthcare workers.
• 🏞 There is a disparity in healthcare staffing between urban and rural areas, with rural regions facing a shortage of professionals and longer travel times to access care.
• 💡 Icon Medical Networks is addressing the rural healthcare staffing issue by offering incentives like stock options to attract healthcare providers to underserved areas.
• 📊 The fields with the most hiring in healthcare include hospitals, especially with the rise of the Delta variant and increased hospitalizations, as well as ambulatory and surgical centers due to postponed procedures.

Q & A

What is the current status of the healthcare job market according to the July jobs report?

The July jobs report indicates that the healthcare space created 37,000 jobs, suggesting a strong demand for hiring in the sector.

Is it challenging to find talent in the healthcare sector as per Janet Elkin's perspective?

Yes, according to Janet Elkin, CEO of healthcare staffing company Icon Medical Networks, it is getting extraordinarily difficult to find the talent needed in healthcare, partly due to a shortage of healthcare workers and burnout from the pandemic.

What does Janet Elkin anticipate for the healthcare job market in August?

Janet Elkin expects that the number of jobs created in the healthcare sector in August may even go up, reflecting an ongoing demand for healthcare workers.

How is the pandemic affecting healthcare workers and their willingness to work?

The pandemic has led to burnout among healthcare workers, with many working long hours in high-stress environments like emergency rooms, which may affect their willingness to continue in the field.

Is the burnout among healthcare professionals impacting the interest of future healthcare professionals?

While the burnout is a concern, there is still interest among the next generation to get involved in healthcare, but they are seeking a better work-life balance.

What changes have occurred in the healthcare sector in the last 15 years that present new opportunities?

In the last 15 years, new segments in healthcare have emerged, such as urgent care clinics, presenting new opportunities for professionals in the field.

What is a locum's firm and how does it address the current needs in the healthcare sector?

A locum's firm provides temporary staffing for physicians, which is seeing a rise in demand as more healthcare professionals seek flexibility and a better work-life balance.

How is the disparity between urban and rural healthcare staffing being addressed?

Companies like Icon Medical Networks are offering incentives such as stock options to healthcare providers to encourage them to work in less attractive rural facilities.

What are the main areas of healthcare experiencing an increased demand for professionals?

Hospitals are at the forefront due to increased hospitalizations from the delta variant, but there is also a rise in demand for ambulatory and surgery centers as people return for postponed procedures.

What impact has the delta variant had on healthcare staffing needs?

The delta variant has led to increased hospitalizations, particularly in southern states, creating a higher demand for healthcare professionals in hospitals and related facilities.

How are healthcare staffing companies adapting to the changing landscape of healthcare work?

Healthcare staffing companies are adapting by offering flexible work options and incentives to attract and retain healthcare professionals, especially in response to the desire for work-life balance.

Outlines

00:00

🏥 Healthcare Job Market Challenges Amidst Pandemic

The script discusses the ongoing challenges within the healthcare job market during the pandemic. Janet Elkin, CEO of healthcare staffing company Icon Medical Networks, highlights the difficulty in finding talent due to a shortage of healthcare workers and the burnout caused by the pandemic. Despite the July jobs report showing the creation of 37,000 jobs in healthcare, there is a significant struggle to fill these positions. The conversation also touches on the potential downstream effect of burnout on the interest of future healthcare professionals and the importance of promoting the opportunities within the growing healthcare sector.

Keywords

💡Healthcare Staffing

Healthcare staffing refers to the process of recruiting, hiring, and managing healthcare professionals such as doctors, nurses, and other medical personnel. In the video's context, it is a critical issue as the pandemic has highlighted the need for more healthcare workers. Janet Elkin, CEO of Icon Medical Networks, discusses the challenges of finding talent in this space, indicating the difficulty in hiring due to burnout and the shortage of healthcare workers.

💡Pandemic

The term 'pandemic' is used to describe the current global health crisis caused by the COVID-19 virus. It is central to the video's theme as it discusses the impact of the pandemic on the healthcare jobs market, causing an increased demand for healthcare workers and contributing to worker burnout.

💡Burnout

Burnout is a state of chronic physical and emotional exhaustion often caused by excessive and prolonged stress. In the script, it is mentioned as a significant factor affecting the healthcare workforce, with many workers feeling overwhelmed due to the demands of the pandemic, leading to a potential decrease in the number of people entering the healthcare profession.

💡Talent Pipeline

The 'talent pipeline' refers to the flow of individuals preparing to enter a profession or industry. In the video, there is a discussion about whether the pandemic has affected the interest of the next generation in pursuing healthcare careers, and how the desire for work-life balance is shaping this pipeline.

💡Work-Life Balance

Work-life balance is the equilibrium between an individual's work and personal life. The video mentions this concept as a factor influencing the healthcare workforce, with professionals seeking more flexibility and control over their work schedules, which is a shift from traditional full-time hospital roles.

💡Locum Tenens

Locum tenens is a Latin term for 'a person who holds a place temporarily.' In healthcare, it refers to temporary staffing for physicians and other medical professionals. The video discusses the rise in locum tenens as a response to the desire for work-life balance among healthcare professionals.

💡Urban vs. Rural Healthcare

The contrast between urban and rural healthcare staffing is highlighted in the video, pointing out the disparity in the availability of healthcare professionals in different geographical areas. Rural areas are described as facing a 'dearth' of healthcare professionals, which is a significant concern for access to medical services.

💡Stock Options

Stock options are a form of employee compensation in the form of company shares that can be bought at a predetermined price. In the context of the video, Icon Medical Networks is offering stock options to healthcare providers as an incentive to work in less attractive rural facilities.

💡Ambulatory

Ambulatory care refers to healthcare services that do not require the patient to stay overnight. The video mentions the increased need for ambulatory services, along with hospitals, due to the pandemic and the backlog of patients who postponed procedures.

💡Surgery Centers

Surgery centers are specialized medical facilities that perform surgical procedures. The script indicates that there is an increased demand for surgery centers as a result of the pandemic, with patients who deferred surgeries now seeking care.

💡Delta Variant

The Delta variant is a specific strain of the COVID-19 virus that has shown increased transmissibility. The video discusses its impact on healthcare staffing, with increased hospitalizations in almost every state, particularly in the southern states, leading to a higher demand for healthcare workers.

Highlights

Healthcare created 37,000 jobs in the July jobs report, indicating a strong demand for hiring in the sector.

Janet Elkins, CEO of healthcare staffing company Icon Medical Networks, discusses the challenges of finding healthcare talent amidst the pandemic.

The difficulty in finding healthcare workers is compounded by burnout from the pandemic, which may affect the talent pool.

There is concern that burnout could impact the number of future healthcare professionals entering the field.

Despite challenges, healthcare is growing with new segments like urgent care clinics offering opportunities.

The pandemic has highlighted the importance of work-life balance, a factor that influences the next generation's interest in healthcare.

Temporary staffing, such as locum tenens, is on the rise as healthcare professionals seek more flexibility.

Rural areas face a significant disparity in healthcare staffing, with facilities often closed or consolidated.

Innovative measures like offering stock options are being used to attract healthcare professionals to rural facilities.

The delta variant and postponed procedures have led to increased hospitalizations and a demand for surgery centers.

Hospitals and ambulatory care are the primary fields hiring in healthcare, reflecting the impact of the delta variant.

The perfect storm of the delta variant and rescheduled procedures is creating a surge in healthcare needs.

Janet Elkins emphasizes the ongoing importance of healthcare workers and the evolving nature of the job market.

The discussion underscores the need for awareness of the positive aspects of healthcare work to attract new professionals.

The pandemic has altered the healthcare landscape, necessitating new approaches to staffing and work-life balance.

The interview concludes with insights into the current state of healthcare staffing and future prospects.

Transcripts

all right let's zoom in on one area of

the jobs market that remains in focus

with the pandemic still raging on that

is healthcare janet elkin is the ceo of

healthcare staffing company icon medical

networks

and joins us now janet good to see you

this this morning so within the july

jobs report uh the health care space

created 37 000 jobs

from where you sit is that is the market

strong for hiring or is it still

hard to find the talent the space needs

very hard to find the talent i would

expect that the august numbers will even

go up

but it is getting extraordinarily

difficult not only because there just

aren't enough health care workers but

also because many are just burnt out

from the pandemic

and janet in terms of that burnout um is

that going to be affecting you know i

remember when i was in college

it seemed like everyone you talked to

was interested in the pharmacy school of

the nursing school i mean is this

downstream effect on on kids coming up

is this burnout going to be impacting

how many future potential healthcare

professionals we have

well it's a concern obviously everyone

has heard the heartfelt stories about

hours upon hours working in the

emergency or other areas of a hospital

however there's a lot of opportunity as

well healthcare is growing

right if you look at the different

segments that didn't even exist maybe 15

years ago like

really urgent care clinics there's a lot

of opportunity out there we just have to

make sure that folks know the good work

that can happen in health care

jenna has the pandemic changed uh you

know the talent pipeline

uh for the health care space where you

know look we've seen watching these

headlines all year long

do does the next generation want to get

involved in the space

they do but i think what's important to

note is that they want

a work-life balance as you see really in

all sectors don't you

and so that's making a difference that's

why we're

a locum's firm what that means is

temporary staffing for physicians and so

we're seeing a real rise in people

saying i don't want to have to work

certain shifts in a hospital i want to

have my life back and that i think is

going to continue

to increase and then another disparity

janet that's certainly

been made aware to all of us during the

pandemic is urban versus rural

health care staffing i mean rural areas

continue to see a dearth of health care

professionals

how have you guys gone about trying to

alleviate that stressor and what are the

prospects for

kind of writing this imbalance well it's

a real concern

because many different healthcare

facilities have just

closed their doors consolidated it could

take someone

possibly an hour just to be able to get

to a hospital

we're doing things that were unheard of

and temporary staffing like we're giving

stock options

to providers to physicians and nurse

practitioners and crnas because

we have to give them a reason to be able

to go to those facilities they're not as

attractive but

it's needed jen within the healthcare

space

again as i mentioned 37 000 jobs created

in july

what fields are hiring

most of them i mean obviously hospitals

going to be number one

because we're seeing with the delta

variant that increased hospitalizations

really in almost every state

particularly in the southern states

but also an ambulatory as well and

remember not only do you have the delta

variant

but people who put off procedures are

now going back so we're seeing

increased needs for surgery centers as

one would imagine

it's the perfect storm all right we'll

leave it there janet elkins ceo

of icon medical networks thanks so much

have a great weekend