Key Issues to Success in the Medical Staffing Market

I talk to many people in the nurse staffing trade and over the years have found out that the "keys to success" in that trade are quite standard. Rather than relying on my empirical experience (I talk to them only with regards to providing working capital to support their growth), I interviewed Dr. Jason Meyer from Medical Staffing Consultants. Here is part one of my interview with him.

Q: Which are the four most important issues to be aware of when entering the Staffing Market?

1. Most companies/people just think about nurse staffing, but there are many, many (+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 through method of retention (why should the nurse stay with you?).
3. Just as there are healthcare professions other than 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: One way a nurse staffing company can add value to its clients.

A Nurse staffing company adds value to its clients by having the continual ability to provide new personnel who are fully credentialed and guarantee an adherence to an on-going quality assurance process and standards.

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

These are not really secrets, but

1. Having the right/enough job opportunities for them (i.e. giving them the hours);
2. Money (make sure that there is never a question in their minds that their paycheck WILL be there);
3. Respect and care for them as individuals.

Q: 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 not to get bogged down with administrative concerns.

I will continue this interview in the next post.