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1/ Welcome to another edition of West’s Well-Being Wednesday! As a reminder, I’ll briefly highlight papers, topics, questions, etc. related to healthcare professional #wellbeing, with a new entry each week. #wellbeingwednesday #burnout #MedTwitter
2/ Today’s topic will be the cost of burnout. The caveat here is that clinician well-being is really a workplace morality issue, and should reflect a core value concept rather than requiring financial ROI justification. That said, the financial argument is also strong.
3/ A great reference on this topic is The Business Case for Investing in Physician Well-being https://ja.ma/38vbI0t via @JAMAInternalMed part of @JAMANetwork, from Tait Shanafelt, Joel Goh, and @ChristineSinsky.
4/ This report offers conservative formulas to estimate the cost of physician burnout as well as the expected financial return on organizational investments to reduce it. The focus is on job turnover and replacement costs, and many other costs are not considered.
5/ Using “typical” figures, a 450-physician organization would spend $16.9 million per year on physician turnover, and $5.6 million of this would be attributable to burnout! Again, these are gross UNDERestimates.
6/ The scary thing is that none of these costs are part of any organization’s financial planning, and they do not appear as a line item in any annual budget. Prevention efforts can save millions, but appear costly because what they save is not part of the budget.
7/ This is … not good business.
8/ A great formula to guide local calculations is provided by @AmerMedicalAssn in a STEPS Forward module: https://edhub.ama-assn.org/steps-forward/interactive/16830405.
9/ Next week we’ll dig into this a bit more! /fin
