It’s only been one quarter, but in just three short months, 2023 has already demonstrated several significant hiring trends across multiple industries and verticals. Talent shortages, rampant inflation, rising global salaries, and ongoing talk of an impending recession have created a perfect storm where stress levels are high — but the local U.S. talent pool is increasingly low. Read more below:
We recently sat down with Pena4’s President and COO, Joe Gurrieri, to hear his take on some of the hiring challenges Pena4 sees already in 2023 — and how the organization is using customized offshore staffing and virtual talent to help customers solve their biggest hiring problems.
“On the staffing side of things, we are seeing many of the same issues we saw over the last few years,” Joe said. “Not only have salaries and minimum wage increased in multiple states, but there are worker shortages in virtually every industry. It’s stressful for businesses — but it is very solvable by using offshore staffing. Our solutions offer our clients around-the-clock coverage with skilled, experienced, and trained workers who offer the highest standard of customer service excellence,” he said.
Joe also discussed the hiring climate for medical coders as well as other factors disrupting how revenue cycle companies find elite talent. “There are multiple components influencing how revenue cycle companies are hiring that go well beyond inflation, recession, and other post-COVID factors,” he said.
Joe went on to say, “There is a large demographic of healthcare workers quickly approaching retirement age, and that includes medical coders, where over 66% of all workers are over the age of 40. Additionally, rapid paradigm shifts in the coding system itself, especially as we move from 1CD10 to ICD11, are causing further disruption in the space where even highly experienced workers will have to relearn what they do”.
“An offshore staffing solution can also prove an invaluable resource for revenue cycle companies navigating these hiring circumstances. Yes, the global salary increases have meant that offshore worker salaries have also increased. However, using offshore talent from Pena4 to fill medical coder gaps can be done at a fraction of the cost of using local candidates. We deliver qualified professionals who are up to date on the latest standards with savings of as much as 50-60% for the ultimate client win,” Joe said.
If anything mentioned in this article sounds like it applies to you and your organization, get in touch with Pena4 today.