A “Make or Break” Year: How Hospitals Should Plan for 2024
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A “Make or Break” Year: How Hospitals Should Plan for 2024

December 15, 2023

By Mary Hamilton, MSN, RN, NE-BC 

Vice President of Clinical Solutions, Prolink 

As 2024 quickly approaches, the economic challenges that have faced hospitals and health systems over the past few years continue to evolve. 2022 and 2023 were some of the most economically strenuous years in recent memory for the healthcare industry, with staff shortages, inflation, and labor disputes all contributing to the pressure in equal measure. 

It's no surprise that, per a recent article from Becker’s, Fitch Ratings’ annual outlook report predicted 2024 as a “’make or break’ year for a significant portion of the sector.” Kevin Holloran, senior director and sector head at Fitch, connected hospitals’ ability to be successful in the coming year with “their ability to recruit and retain staff in the currently hyper-competitive landscape for personnel.” 

Holloran is absolutely right. In a challenging workforce market, financial stability and talent retention are inextricably linked. At Prolink, we understand how vital that connection is, and we help the organizations we partner with use it to their advantage. We empower talent acquisition teams with the additional knowledge and skills they need to be successful, driving their ability to recruit and retain staff with a multidisciplinary lens. All the while, we focus on reducing contingent labor spend, which contributes to an improved margin. 

Our strategy and tactics are designed with improved financial outcomes in mind, but most importantly, they remain focused on our number one priority—excellent patient care. We focus on bringing on and retaining remarkable talent so that talent can provide remarkable care. 

I like to say that organizations should be on offense—not defense. I help hospitals take control of their workforce planning with a proactive mindset instead of simply reacting to whatever comes their way. Partnering with Prolink can help ensure that your organization is prepared to weather the storm of a challenging market in the year ahead. 

If you’re ready to optimize your workforce planning with forward-thinking, tailored solutions, we’re ready to help you face 2024 with a winning strategy in hand. Click below to contact us and begin your partnership with Prolink today. And click here to connect with me on LinkedIn. 

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