Guide

How Workforce Marketplace Ecosystems Can Alleviate Staffing Shortages and Financial Strain on Hospitals

How Workforce Marketplace Ecosystems Can Alleviate Staffing Shortages and Financial Strain on Hospitals

Pages 8 Pages

A ShiftMed white paper says hospitals can counter nurse shortages, rising labor costs, and travel-nurse dependence with a workforce marketplace ecosystem that builds local, curated pools to complement core staff. Key traits: flexible scheduling with dynamic wages, streamlined activation (credentialing/orientation), internal-staff-first fulfillment, and engagement plug-ins (e.g., Uber Health rides, same-day pay). Guidance: avoid exclusivity, beware faux marketplaces, and favor partners that optimize local supply. Impact: cutting 20 travel RNs can save ~$3.14M; cited results include 16K+ shifts in <12 months, 40 travel contracts replaced, $85M FY22 savings, 250+ hires/quarter, and 64% fewer agency FTEs—boosting continuity, experience, and resilience.

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