Assignment:
Reading 1 material: See attached File
Reading 2 material: go to the links below.
1. https://www.mckinsey.com/business-functions/organization/our-insights/motivating-people-getting-beyond-money
2. https://www.athenahealth.com/insight/when-money-isnt-enough-motivate-doctors
After carefully completing reading 1 and reading 2 materials, use the knowledge to address the following two parts of this assignment.
Part 1 (300 words with APA citations from readings, No new references are needed)
Assume that you are the CHRO of a 450 bed, metropolitan full-service hospital with over 1,800 employees. In spite of ranking at the 50th percentile for wages in the area (there are 3 other hospitals within 10 miles of your facility), morale among employees is at an all-time low. A recent employee survey revealed the poor morale as well as a high rate of burnout. (In fact, 30% of the nursing staff admitted to looking at other jobs.) Staff turnover during the past 2 years has been about twice the previous rate and absenteeism was up 50% over the same time period. The last COO introduced an employee “flex time” plan that saved the hospital 15% on wage costs by sending employees home when the patient census was low. (Of note, 65% of nurses managed to work a 40-hour week last quarter.)
Employee benefits include a small life insurance policy, a 401k plan (no matching) and health insurance for employees, but not dependents. No other insurance or benefits are currently offered. (80% of employees have a “significant other” and 55% have at least one child between 1 and 12 years old.)
Formulate and discuss a comprehensive plan to improve morale, productivity, and reduce burnout among staff nurses. The CEO has allowed you to address all aspects of employment, including working hours, conditions, compensation and benefits, etc.
Part 2 (250 words with APA citations from readings, No new references are needed)
Physicians make decisions for (and with!) their patients that account for 75% of all healthcare expenditures. Physicians order diagnostic tests, admit patients to and discharge them from the hospital, perform surgery and other procedures and decide on which treatments/medications are best for their patients. Therefore, managing physician behavior is critical to curbing healthcare costs. Creating incentives to modify physician behavior continues to be the subject of much research (some of it pretty poor, btw).
Do you think money motivates physician behavior as powerfully as it does other healthcare employees? Would it matter if the physician is employed by the hospital or is an independent practitioner? Does fee-for-service reimbursement increase or decrease the motivation money provides to physicians? Support your opinions.
