In the worst of health: IPO papers of hospital chains show high attrition among nurses
An analysis of IPO documents filed by hospital chains in the past two years reveals the high attrition of nursing staff to the extent that, on average, one out of every two nurses hired quits their job. For instance, Global Health (Medanta) had, in its red herring prospectus, reported an attrition rate of 51% among nurses for FY22.
IPO-bound Yatharth Hospital has reported an attrition of 74% for FY23 in its draft red herring prospectus. Thane-based Jupiter Hospital has reported an attrition of 32% for FY22 in its draft RHP.
The attrition rates at hospitals are far higher for nurses compared with those of doctors and other professionals. «More than the doctors, hospitals in India are staring at an acute shortage of nursing and housekeeping staff,» said Ankit Thakker, CEO of Jupiter Life Line Hospitals.
«At a time when there are other jobs paying more, not many individuals want to take up nursing as a career and those who end up taking it prefer to migrate abroad given the high demand globally.» Many stay just as long as it takes for them to gain the qualifications needed to head off abroad for better pay and a less onerous working environment, say nurses. According to WHO World Health Statistics 2020, India has 17 nurses per 10,000 people versus the global average of 38.
There were 2.47 million registered nurses and midwives in India at the end of calendar 2021, as per the FY22 report of the Indian Nursing Council, the national regulatory body for nurses and nursing education.Tamil Nadu, Kerala and Andhra Pradesh have the highest number of registered nurses.Apollo Hospitals, in its annual report for FY22, said skilled workers are in short supply, including doctors, nurses and paramedical staff. To be sure, intense
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