2018 HIRING AND COMPENSATION TRENDS

Transcription

1 2018 HIRING AND COMPENSATION TRENDS INDUSTRY SPOTLIGHT: HEALTHCARE Jennifer Carlson Metro Market Manager

2 Sources of Information The thousands of interim and full-time placements we make throughout the year Expert insight from our staffing professionals Exclusive workplace research we conduct among executives and other professionals Our own in-depth analysis of current and future hiring trends 2

3 Today s Discussion Healthcare employment trends Types of healthcare personnel in demand Hot roles and compensation trends Recruiting and retention strategies Salary negotiation tips Q&A 3

4 Healthcare Employment on the Rise Healthcare is projected to grow 19% from 2014 to 2024 and add 2.3 million jobs. - BLS, Occupational Outlook Handbook 4

5 Factors for Job Growth in Healthcare Aging population Customer experience Revenue cycle efficiency Mergers and acquisitions Staff turnover 5

6 Technology Changes and Influences EMR/EHR Healthcare management systems Big data Telemedicine 6

7 Positions in Demand 7

8 Positions in Demand Many healthcare employers need to hire: Administrative support Revenue cycle specialists Accounting and finance pros Specialized consultants 8

9 Hot Roles: Administrative Patient registration/intake/admissions clerks Member services representatives/enrollment specialists Medical customer service representatives Credentialing specialists EMR specialists Medical receptionists Medical schedulers Insurance referral coordinators Insurance verification/authorization clerks Medical executive/administrative assistants Medical data entry specialists 9

10 2018 Salaries: Select In-Demand Roles Patient Registration/Intake Admissions Clerk $30,000 Medical Scheduler $31,000 Member Services Representative/Enrollment Specialist $34,000 10

11 Hot Roles: Revenue Cycle Certified coding specialists/professional coders Medical billing assistants Reimbursement specialists Medical collections specialists Payment posters Insurance specialists Claims analysts/processors Revenue cycle analysts 11

12 2018 Salaries: Select In-Demand Roles Medical Collections Specialist $33,250 Revenue Cycle Analyst $52,000 Certified Professional Coder $53,000 12

13 Hot Roles: Accounting and Finance Staff and senior accountants Accounts payable specialists Financial reporting specialists Cost analysts Compliance specialists Internal audit staff Senior financial analysts Business analysts Budgeting/forecasting analysts 13

14 2018 Salaries: Select In-Demand Roles Staff Accountant* $60,000 Financial Analyst* $65,000 Senior Business Analyst $86,000 *1-3 years of experience 14

15 Hot Roles: Specialized Consultants In-demand expertise includes: Regulatory compliance Business systems Business intelligence Process improvement Financial analysis 15

16 Local Hiring Trends In Minnesota: 44,200 new jobs during 2017 Healthcare grew 2.9% year-over-year with an increase of 10,802 jobs in 2017 Top Healthcare Management Programs in MN: St. Mary s University M.A. in Health and Human Services Administration University of Minnesota Twin Cities School of Public Health Master of Healthcare Administration (MHA) University of St. Thomas Opus College of Business Health Care Master of Business Administration (MBA) 16

17 Unemployment in the U.S.: January

18 3 Essential Recruiting and Retention Strategies for Healthcare 1. Offer competitive compensation and benefits 2. Support career growth and work-life balance 3. Provide training and certification support 18

19 Salary Negotiation: Questions to Consider 1. Are other, equally qualified candidates available if the applicant says no? If yes, the leverage to make accommodations rests with the company. 2. Has the job been particularly hard to fill, or are market conditions making finding and recruiting suitable candidates difficult? If yes, the leverage rests with the candidate. 19

20 Q&A 20

21 INDUSTRY SPOTLIGHT: HEALTHCARE Jennifer Carlson Metro Market Manager (952)