By: First Union
How Exactly Do Medical Staffing Companies Work?
There is a massive shortage of help in the healthcare industry these days. As a result, you might be thinking about working with a medical staffing company to fill in employee gaps.
Now you're wondering: How do medical staffing companies work? How do they get paid? Why should you use a healthcare staffing agency rather than hiring employees directly?
Here's a brief introduction to the world of medical staffing companies.
Connecting Employees and Employers
Healthcare staffing agencies use a massive network to connect employers with the best employees. They have recruiters whose purpose is to seek out the best healthcare talent across the country.
If you run a healthcare practice, you would probably rather spend your time, energy, and money on your patients. A healthcare staffing agency can handle all your hiring for you. They can even go as far as interviewing applicants, saving you even more time.
Some medical staffing companies work with employees who are willing to relocate. That means you can more easily get talent from anywhere and you aren't limited to your local area.
Medical staffing companies do massive amounts of screening for the applicants they work with. They weed out unsuitable employees before you ever even hear of them. Beyond looking at a basic resume, a healthcare staffing agency may go as far as doing background checks.
Since the medical staffing agency does such thorough screening, you are more likely to hire quality professionals.
Beyond that type of screening, healthcare staffing agencies can determine which applicants are best for which jobs.
Healthcare staffing agencies go out of their way to recruit talent from around the country. Recruiting can be costly and time-consuming. It might make a lot of financial sense to hire a medical staffing company to handle your recruiting needs.
Healthcare staffing agencies usually have large networks they can take advantage of. That means they can find qualified staff in places you might not even think to look at.
Filling Job Vacancies Quickly
Medical staffing companies often have plenty of pre-vetted employees ready to go. That saves you valuable time searching for the right employee. The medical staffing company can send you somebody within a day or two.
Some healthcare staffing agencies specialize in last-minute placements. Is the flu making its way around your hospital? A medical staffing company can send you nurses and other medical staff to cover call-ins.
Being able to quickly fill a job vacancy is also handy when you lose an employee suddenly. Delays in hiring a replacement can put added stress on your current staff. Prevent burnout among your employees by quickly filling jobs with help from a healthcare staffing agency.
How do Medical Staffing Companies Get Paid?
Typically, healthcare staffing companies charge a percentage of the employee's pay. This percentage may be as high as 100%.
What does this look like? Let's say you hire somebody at a rate of $20 per hour from a healthcare staffing agency that charges a 50% fee. That means you'll pay the medical staffing company $30 an hour for that employee, and the agency will pay the employee $20 per hour.
In some cases, especially with a permanent placement, the agency may charge you a flat fee. This flat fee is typically expected upfront.
These fees may seem excessive. However, you need to calculate how much time and money you currently spend looking for healthcare employees. You may find that it's more economical to pay a medical staffing company to handle the hiring process for you.
In a way, that fee also helps ensure that you will get quality employees. A bad employee is almost worse than an empty position.
Does Your Healthcare Facility Need a Loan to Pay a Medical Staffing Company?
While many medical staffing companies take a percentage of the employee's salary, some may take a flat fee. This is especially true if they're finding you a permanent placement. Even without a flat fee, you're paying a medical staffing company more than you would pay an employee.
In either case, you may need a loan to pay a medical staffing company to fill your healthcare professional needs.
If you need a business loan to pay a healthcare staffing agency, contact First Union Lending. They have 9 different loan types, so you're sure to find the best one for your needs.
You could get approved as soon as the same day, and applying for a loan doesn't affect your credit score.
Call them today at 863-825-5626 or click here to talk to a business lending specialist. They'll discuss the different loan options and help you pick the right one.
Don't let a shortage of business funding prevent you from getting the best healthcare employees possible. First Union Lending can help.