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Blog & News/Balancing Patient Care and Financial Management: Closing Beds vs. Hiring Fastaff Nurses

Balancing Patient Care and Financial Management: Closing Beds vs. Hiring Fastaff Nurses

May 24, 2023

Hospitals continually face the challenge of balancing patient care and financial management. A crucial aspect of this equilibrium is managing staffing levels, especially when considering closing a bed due to staff shortages. While closing a bed may seem like a quick and easy solution to temporary staffing shortages, the cost implications of this decision can be significant.

The Cost of Closing a Bed
Closing a bed due to staffing shortages is common practice in many hospitals. However, the true cost of this decision extends beyond the lost revenue from that specific bed. The ripple effect throughout the hospital could include longer wait times, reduced patient satisfaction and increased staff burnout. Additionally, when beds are closed due to staffing shortages, patients may be transferred to other facilities, which can lead to increased costs for transportation, physician fees and other expenses. These factors result in decreased insurance reimbursements and reduced patient volumes, which impact the hospital's overall revenue.

The Efficient Alternative: Hiring a Fastaff Rapid Response® Nurse
Partnering with Fastaff Travel Nursing to hire temporary nurses offers a cost-effective solution, compared to closing beds. These nurses are highly-trained, experienced and available on short notice to fill staffing gaps. By using Fastaff nurses, hospitals maintain suitable staffing levels without sacrificing quality patient care. Additionally, Fastaff nurses are equipped with the latest technology and resources, which can help to improve patient outcomes and satisfaction.

Comparison of Costs
The costs of closing a bed versus hiring a Fastaff nurse can vary depending on the specific circumstances. However, in general, the cost of hiring a Fastaff nurse is likely to be lower than the cost of closing a bed. This is because hiring a Fastaff nurse allows hospitals to maintain patient volumes, which can lead to increased revenue. Additionally, Fastaff provides flexible-length assignments as short as two weeks, 48-hour work weeks with no overtime charges to your facility and easy, no fee nurse cancelations with a four-shift notice.

In conclusion, the decision to close a bed due to staffing shortages may seem like a quick and easy solution, but the cost implications of this decision can be significant. Hospitals should consider the cost of lost revenue, increased patient transfer costs, and decreased staff morale when making this decision. Alternatively, hiring a Fastaff nurse can be a cost-effective alternative that allows hospitals to maintain patient volumes and improve patient outcomes. By making informed decisions about staffing levels, hospitals can balance patient care with financial management and ensure the best possible outcomes for their patients.

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