High Turnover in Hospices Correlates to Lower Margins

Elevated turnover rates are nibbling at hospices’ profit margins.

A recent, nationwide BerryDunn survey of home health and hospice providers found that those who have experienced high turnover rates also sustained significant blows to their bottom lines. Providers with a turnover rate of 10% or less among staff reported seeing margins rise on average by 18.94%. Meanwhile, those with turnover rates ranging from 21% to 30% saw margins drop by about 1%.

Out of 1,000 providers polled, 249 were hospice agencies. The data were part of BerryDunn’s National Healthcare at Home Best Practices and Future Insights Study.

Read more @ Hospice News