Trinity Health soon will offer employees the option to be paid by the day, a new effort by the major healthcare system to attract and retain employees and provide its workforce another option for financial stability.
The U.S. healthcare system is struggling to maintain employees at all levels as nurses, physicians and even CEOs struggle with burnout and battle to bounce back from the effects of the COVID-19 pandemic.
Trinity Health is partnering with financial services company DailyPay to provide earned wage access to its employees, according to Nicole Shelton, chief human resources officer, system office clinical and continuing care for Trinity Health Michigan. Through EWA, employees can access their pay on a daily basis, paying bills without the stress of waiting for payday or the threat of additional overdue fees.
According to Livonia-based Trinity Health's website, it is one of the largest not-for-profit, Catholic healthcare systems in the country. It has 123,000 employees and nearly 27,000 physicians and clinicians across 26 states, including Michigan. The Trinity Health system includes 88 hospitals, 135 continuing care locations, the second largest PACE program in the country, 136 urgent care locations and other health and well-being services. Its annual operating revenue is $21.5 billion.