Here’s how advanced practice providers can boost your hospital’s bottom line.

<p>In the face of high labor costs and an evolving workforce, healthcare leaders must generate innovative solutions to sustain profit growth. An effective way for hospitals and health systems to optimize financial performance is to strategically integrate advanced practice providers (APPs) into the healthcare team. By adding nurse practitioners, physician assistants, nurse anesthetists and nurse midwives, hospitals can boost efficiency, expand capacity, optimize operational workflows, and enhance patient satisfaction, ultimately improving their bottom line.</p><h2>How APPs Can Support Healthy Patients and Healthy Profits</h2><p>From availability and affordability to autonomy and expertise, APPs play a vital role in bolstering the financial wellness of hospitals and health systems. Here are several ways they can improve your healthcare organization's profitability.</p><h3>APPs are cost-effective.</h3><p>Labor is the No. 1 cost for healthcare organizations. Across the U.S., "overall labor expenses and revenue continue to rise, and Q1 2024 data show that labor represented 84% of total expenses," according to KaufmanHall's <a href="https://www.kaufmanhall.com/insights/research-report/physician-flash-report-q1-2024" rel="noopener noreferrer" target="_blank">Physician Flash Report.</a> Cross Country Locums Chief Medical Officer and practicing physician assistant <a href="https://www.buzzsprout.com/2028760/14281220-from-insight-to-action-leveraging-clinician-perspectives-for-workforce-success" rel="noopener noreferrer" target="_blank">Michael Skovira</a> says adding advanced practice providers "not only increases access to high-quality care but also reduces the financial burden for many healthcare facilities, as APPs are a cost-effective solution for high-quality care delivery."</p><h3>The number of APPs is growing as the number of physicians continues to decline.</h3><p>Skovira says, "The Association of American Medical Colleges is predicting a shortage of up to 24,000 physicians by the year 2034. That's a staggering number. In parallel to that, NPs are expected to grow by 38%, and PAs are expected to grow by 28% by the year 2032. So logistically speaking, it's imperative that we leverage APPs to help close that gap." APPs are needed to fill gaps in care due to the growing scarcity of physicians.</p><h3>In many settings, APPs have full practice authority.</h3><p>This greater autonomy means APPs can help ensure your patients have uninterrupted access to care, particularly if you’re in a critical shortage area. "NPs already have full practice authority in more than half the U.S. states, and that number continues to grow," says Skovira. "No NP or PA should try to replace the role of a physician…however, APPs do have the ability to fill in those gaps by leveraging full practice authority in settings where it's appropriate to do so."</p><h3>APPs can deliver specialized services for your patients.</h3><p>Have you struggled to find physicians to fill your high-demand specialties? Specialized advanced practice providers may be part of the solution. Because APPs can earn specialty certificates, they can help expand access to specialized care despite the physician shortage. Currently, NPs can become certified in various areas, including gerontology, family medicine, neonatology, pediatric acute care, pediatric primary care, psychiatric mental health, urology, and women's health (<a href="https://www.nursingworld.org/content-hub/resources/nursing-resources/types-of-nurse-practitioner-specialties/" rel="noopener noreferrer" target="_blank">ANA</a>). Similarly, PAs can earn certification in specialties including cardiovascular and thoracic surgery, dermatology, emergency medicine, hospital medicine, nephrology, OBGYN, occupational medicine, orthopaedic surgery, pediatrics, palliative medicine and hospice care, and psychiatry (<a href="https://www.nccpa.net/specialty-certificates/" rel="noopener noreferrer" target="_blank">NCCPA</a>).</p><h3>APPs can help improve throughput at your facility.</h3><p>To optimize care delivery and maximize revenue, you can assign routine care to your advanced practice providers while reserving complex cases for physicians. APPs can conduct exams, order tests, prescribe medications, manage preventive care and chronic diseases, handle follow-up care, and support pre- and post-operative care, thereby reducing bottlenecks and improving patient throughput. They can also play a crucial role in telehealth, expanding reach to underserved patients and assisting during surges to minimize wait times and improve patient satisfaction. Additionally, APPs can help reduce physician workload by managing electronic medical records, patient portal information, inventory, health monitoring, and wellness and disease prevention programs. Further, they can spearhead your new clinics, service lines, and quality improvement initiatives.</p><h2>Get Highly Qualified Advanced Practice Providers for Your Facility</h2><p>Are you ready to add advanced practitioners to your care teams? From enhancing patient care to improving operational efficiency, incorporating APPs is a smart financial move. To get top-quality APPs, <a href="https://www.crosscountry.com/locums/client-solutions" rel="noopener noreferrer" target="_blank">connect with Cross Country Locums</a> now.</p>

Optimize Profitability with Advanced Practice Providers