December 21, 2007 | Print this Page.

Working Capital For Staffing MarketI've talked to many people in the nurse staffing trade. In doing this, I've found out that the keys to success in this trade are standard. Rather than relying on my empirical experience, I interviewed Dr. Jason Meyer from Medical Staffing Consultants.

Q: What are the four most important issues to be aware of when entering the staffing market?

Jason Meyer:

  1. Most companies and people just think about nurse staffing. However, there are over 90 other allied disciplines that are viable medical staffing services.
  2. There is a big nut in the "high cost of acquiring and training" and "nurses are in high demand." Because of this, it pays to use unique recruitment methods - specific to the industry as well as having a well thought out method of retention. (Why should the nurse stay with you?)
  3. Just as there are other healthcare professions besides doctors and nurses, there are many client types other than hospitals -- i.e. nursing homes, outpatient clinics, schools, social service organizations.
  4. The market is great, but it is not magic -- persistence and relationship building are required to develop a consistent, client base. Responsiveness and customer service for clients (and employees for that matter) are key -- this is truly a relationship business -- your employees are as important as your clients.

Q: What's one way a nurse staffing company can add value to its clients?

JM: A nurse staffing company adds value to its clients by having the continual ability to provide new personnel with full credentials and guarantee an adherence to an on-going quality assurance process and standards.

Q: Three most important secrets to retain nurses are ...

JM: These are not really secrets, but they are:

  1. Having the right and enough job opportunities for them (i.e. giving them the hours).
  2. Money so there's never a question in their minds that their paycheck WILL be there.
  3. Respect and care for them as individuals. (Editor's note: Especially being cognizant of things like compassion fatigue in nurses.)

JM: What about the back office? In-house or outsource?

This depends upon your preference. In the first year, costs will be fairly comparable. Outsourcing does allow the owner to focus on revenue generating activities and instead of getting down with administrative concerns.

About Dr. Jason Meyer
Dr. Jason Meyer is president and founder of Medical Staffing Consultants (MSC) which specializes in helping staffing companies start up medical staffing businesses. MSC provides on-site turnkey programs as well as specialty services which can be conducted off-site. Interventions are also provided to existing medical staffing companies.

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