Even before the COVID-19 pandemic began, job postings in the healthcare sector jumped by almost 30% between 2019 and 2020. However, the pandemic created the record-high demand for nurses and physicians, especially those in acute care settings. Throughout the pandemic, the emotional and psychological weight of providing acute patient care has taken a heavy toll on many medical services providers. The industry also lacks the technological tools to solve these persisting issues of care. These issues are now leading many healthcare professionals to leave the industry entirely.
This shortage of a much-needed workforce has driven many hospitals to resort to contract labor. As a result, hospitals have seen a sharp increase in their labor costs. For many hospitals, these labor costs could comprise as much as half of their total operational budget.
In fact, according to the U.S. Bureau of Labor Statistics, the healthcare industry is looking to add almost 8.3 million jobs by 2031. However, most of the healthcare industry isn’t prepared for this workforce influx. The industry lacks the right scheduling, staffing, and human capital management technologies to support a more agile care delivery system and address further problems like workforce burnout and retention.
For many hospitals, optimizing their workforce staffing with dynamic scheduling tools supported by predictive analytics can provide the best opportunity to prevent staff burnout.
And for many healthcare providers, some of the most critical elements to implementing a solution is the ability to collect, monitor, and analyze data from multiple sources. In acute care, this solution includes clinical
data that captures patient acuity, census data, case mix index, and other data points related to how patient care is managed. With tracking staffing assignments, these data points allow providers to build an algorithm that can help predict a flexible and optimized staff schedule. Currently, Oracle and Oracle Cloud Infrastructure (OCI) are working on multiple data-focused and intelligent solutions.
The OCI Data Lakehouse service allows customers to store, aggregate, analyze, and curate structured and unstructured data and can provide a wealth of information. Named by Gartner as a leader for cloud human capital management, Oracle Healthcare Human Capital Management (HCM) offers crucial data insights for operational efficiency. Using prebuilt, cloud native Oracle Fusion HCM Analytics, these tools use predictive modeling, which can provide valuable insight for customers that need team performance and workforce planning analysis to optimize their operations.
In the healthcare industry, data is key, and using analytics and data science technology to analyze it and build predictive modeling solutions can deliver on aspirations of operational efficiency and workforce optimization. Oracle Artificial Intelligence (AI) puts data science at the core of in-depth, live, and virtual analysis that allows customers to make proactive adjustments to their staffing strategies and, ultimately, to improve employee experience and patient care.
With AI modeling, applying machine learning (ML) tools can translate your business objectives into more approachable solutions, such as anticipating patient volumes and care needs and adjusting employee schedules accordingly. The overlap in AI and ML provides many Oracle healthcare customers with multiple models of success, where real, current, and live data can be used to optimize operations. Finally, Oracle services like Oracle Digital Assistant can reduce the administrative burden on providers with a human-centered approach to service and self-managed chatbot applications.
Oracle was named a leader in the 2022 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for its product, Oracle Cloud HCM. Now is the time to explore Oracle resources:
OCI HCM is a complete cloud solution that connects every human resource process and every person across your enterprise.
Oracle Fusion HCM Analytics is a prebuilt cloud
native solution for OCI HCM that provides human resource professionals with turn-key workforce insights to improve their decisions.
Oracle Healthcare Analytics and AI enables developers to easily add machine learning to apps without slowing down application development.
Oracle Digital Assistant delivers a complete AI platform to create conversational experiences for business applications through text, chat, and voice interfaces.
Oracle Machine Learning provides more streamlined data labeling and improved access to virtual machines.
For more information on these and many other tools your HR teams can adopt to optimize your businesses’ workforce and staffing needs, contact our representatives and check the Cloud Healthcare web page.
CJ’s diverse and extensive portfolio of expertise in the medical field has been propelled by the belief that data, research, and innovative solutions have the power to transform healthcare.
As a registered nurse with a degree in biology, CJ began her career on a medical-surgical floor that specializes in geriatric oncology. Following her time in direct patient care, she served as the magnet program director and manager of Professional Practice at Sentara Leigh Hospital in Virginia, where she was instrumental in improving electronic workflows, running workload-acuity models, and quantifying resources required to deliver care. Following this effort, CJ went on to design and manage an array of process improvement initiatives across Sentara. During the early days of the pandemic, CJ led a region-wide COVID-mask-making initiative, managing over 1,000 volunteers. In three months, over 40,000 masks were delivered to nearly 100 organizations throughout the Hampton Roads region. CJ joined Oracle as a health innovation scientist in 2022. In her "free” time, CJ enjoys spending time with her three rambunctious children, reading extensively, and riding horses.