The turnover rate for hospital CEOs in Mississippi might be the largest in state history by the end of this year, according to the Mississippi Hospital Association President and CEO Tim Moore.
During an interview on MidDays with Gerard Gibert, Moore expressed his concerns that due to the number of resignations from hospital CEOs in the state within the last six months, the overall turnover rate may be exponentially higher than in previous years.
“Our turnover rate, at least in Mississippi, is on track to be greater this year than it has been in the past,” Moore said. “Year to date, we are approximating the turnover to about 11 percent for the first six months.”
At this time, the largest amount of turnovers for hospital CEOs in state history was in 2014 when Mississippi reported a rate of 27 percent.
Since then, the turnover rate has seen several fluctuations ranging between 10 percent and 23 percent, with the American College of Healthcare Executives (ACHE) releasing a steadily increasing number over the past three years.
In 2019, the ACHE reported a low rate of only 10 percent, with the total number of turnovers in 2020 raising the state’s overall rate to 13 percent. After the pandemic, Mississippi’s turnover rate was sitting four percentage points higher at 17 percent.
Now, Moore is anticipating for this year’s rate to reach new highs with the resignations of several hospital CEOs located throughout the Magnolia State.
Less than one month ago, CEOs at two of the state’s largest hospitals announced plans to resign within 24 hours of each other.
Scott Kashman’s resignation from St. Dominic Memorial Hospital in Jackson came at the heels of the recent closure of St. Dominic’s behavioral health services and layoffs of 5.5 percent of its workforce.
Singing River Health System’s CEO Tiffany Murdock announced her resignation several hours prior. Less than two months had passed since the hospital system released that Franciscan Missionaries of Our Lady Health System would be buying out the healthcare provider as early as the fall of 2023.
Murdock worked at the Mississippi Gulf Coast health system for eight years while Kashman had only held the position for less than two.
Moore added that Mississippi isn’t alone, however, as the national turnover rate for all CEOs is also experiencing an all-time high.
“If you look at all CEOs at all American companies… if you look at the first five months of ’23 compared to ’22, it’s up 54 percent,” Moore said. “Which is considerable. If you look at that, you start wondering, ‘What’s going on?'”
Watch the full interview below.
