Having a solid work ethic will allow you and your company to succeed in the nurse staffing industry and with financing options such as factoring, you can expand your agency to its highest potential. Also, the fact that any incident that involves one of your nurses will be pinned to you is why it is vital to get the necessary insurance policies for your business. In this article, we will be considering all the requirements for starting a nursing staffing agencies. The strong growth that has been experienced in the nursing agency cum healthcare staff recruitment agencies for a period of five years due to the fact that the industry is rebounding after the recession experienced by the country. The good news is that you could start a nursing recruitment agency even with little or no money and help medical professionals save lives. The Service Delivery Process of a Nursing Agency Business. Below are some of the platforms that can be used as leverage to boost your brand and also promote your nursing agency; Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. From the above analysis, you will likely need a minimum of 20 people in order for you to run your nursing agency effectively and successfully. Currently, there are more than 3.8 million registered nurses in the United States. 21 Best Medical Staffing Franchise Opportunities for Sale, Starting a Healthcare Staffing Agency – Sample Business Plan Template, Starting a Medical Staffing Agency Business, Starting a Healthcare Staffing Agency Business, Starting a Nursing Staffing Agency – Market Research and Feasibility Studies, Starting a Nursing Staffing Agency Business – Legal Matters. How to Pay for a Nursing Home with No Money Medicaid is one of the most common ways to pay for a nursing home when you have no money available. Start A Nursing Agency Registry Business Program,SBN: 0-9743216-0-5 Updated for 2015 Our Nursing agency registry program cover these topics: ISBN: 0-9743216-0-5 No money to start. Using the right channels to publicize your nursing agency business is very important and most entrepreneurs in this sector usually engage the services of a branding consultant who has the required experience to help with publicizing and positively communicating the brand to its intended target market. Starting a nursing agency would require you to have a substantial amount of money which is why it is very essential that you have conducted feasibility studies as regards the business and then prepare a business plan to help determine all the actions and decisions you will make during the course of starting your nursing agency business. To make a success of your home care agency, you’ll need to have qualifications and ample experience in the care sector, the ability to effectively manage a team, and a burning desire to provide high-quality, compassionate care. Not hiring the needed healthcare professionals can threaten the viability of the nursing agencies and allow them to lose revenue, destroy patience, confidence, have lapses in quality care and cause a burnout for the staff on ground. The sole proprietorship kind of legal entity is one that is easy to start up and does not require much paperwork. The nursing agency business is in the health care and service provider industry and therefore is not the kind that requires one to apply for an intellectual property protection. She holds a BA in Marketing and International Business and a BA in Psychology. Also, gather financial documentation for each owner, officer or partner of the agency. However, only 85% of them are employed in nursing, and a few thousand are about to retire. Those who embrace this profession often wear many hats, juggling the needs of their patients with the requirements of working in unfamiliar settings. By being an independent healthcare contractor, you are bypassing the agency and are self employed. However, all nurses employed by the agency must be fully licensed and accredited. This is why before you can market your services to your target market, you would need to have first built a profile that will enable your target market know that they can rely on you to provide them with reliable, competent and proficient nurses at any time. You can also look at what your competitors are calling their nursing agencies so as to have an idea of what will be deemed fitting. There were times I needed extra money for a special occasion or vacation we wanted to take. In order to open a business … Private nursing service is relatively easy to start. Allied Health Professionals. The nursing shortage has already started as at 2010 as some cities and regions had less nurses. Nurse Next Door, another popular franchise, involves an initial investment of $55,000, an $8,000 technology startup fee plus additional fees for branding, marketing, training, legal assistance, accreditation and more. Catchy Business Name Ideas Suitable for a Nursing Staffing Agency Business. Do you plan to start from scratch or find a nurse staffing agency for sale and take ownership of it? Decide also of which type of business entity you want to apply for your business for the purpose of tax liabilities. Starting your business from the scratch and buying a franchise are options you would need to consider when starting your nursing agency. Some of the basic certifications that the nurses you intend to get should possess are; List of Legal Documents You Need to Run a Nursing Agency Business. If your nurses will be working in a hospital, there would be no need for them to go with any equipment except their basic equipment. Her goal is to help businesses understand and reach their target audience in new, creative ways. The demand for nurses, other healthcare professionals and support staff is growing in every sector of the healthcare industry especially in hospitals. Additionally, it shows that you are following the best industry practices. The nursing agency business is one where an agency in the health care industry recruits reliable nurses and certified nursing assistants to meet the demand for the services of these nurses by individuals, hospitals and other health care institutions. Any decision or action taken by one partner is binding on the other partners. Learn how to start your own Nursing Agency. I occasionally hire a traveler, but for the most part I make much more money just working assignments on my own. The first three weeks are uneventful. You might need to therefore engage the services of a marketing consultant who has the experience in your kind of industry to help in creating the right marketing strategies that would boost and help you grow your nursing agency business. To set up and run a nursing agency in the UK you do not need to be a nurse or come from a medical background. The number of employees you would need in order to start and run your nursing agency business successfully would depend on the scale you intend starting your business. Start at the right time. 1. Before starting a nursing agency, make sure you know what is … This has therefore led to confusion, especially for agencies that recruit these nurses to work in homes of individuals. Every business that is established requires constant promotion in order to boost the awareness of its brand and also create a corporate identity to its target market and other stakeholders in the industry. Solomon O’chucks is a Researcher, Prolific Writer and a UNICEF trained & certified Facilitator and Counselor, A Graduate of Morris Cerullor School of Ministry and He Holds a Degree in Personal Development & Science of Success from IIGL Asheville, NC, USA. Nurse Next Door: What Are My Start Up Costs? … Desire to be your own boss. How to Start a Nursing Agency With No Money Learn About the Industry. Starting a Nursing Staffing Agency Business, Starting a Nursing Staffing Agency Business – Technical & Manpower Details, Starting a Nursing Staffing Agency Business – The Marketing Plan, choosing a location for your nursing agency business, How to Get a Restaurant Depot Membership Without a Business. However, the industry is one that has changes occurring in it every now and then, which makes it a very volatile industry. As a startup founder, you can apply for small business loans, reach out to private investors, search for grants offered by local and state government agencies or use your personal savings. List of Well – Known Brands in the Nursing Staffing Business. A nursing agency is one that provides qualified nursing staff to private patients or health care institutions that require them. It is vital that you carry out findings to determine which documents would be needed to run your nursing agency business as ignorance is no excuse for the authorities. Choose the appropriate long-term care: Other options aside from a nursing home include hiring a home health agency, adult day services and moving to … How much do you plan to charge for your services, and how will you pay the nurses employed by your agency? However, it is necessary that you conduct a thorough research on the franchise you intend to buy so that you do not end up wasting money on something that will not be beneficial to your business. The location that you intend to use for your nursing agency is very important because it must be one that is not only conspicuous and in a strategic place, it must be within your target hub and easily accessible to your employees as well as your clients. The Joint Commision: Health Care Staffing Services Certification, Bureau of Labor Statistics: Registered Nurses, Study.com: Nursing Duties, Responsibilities and Career Options, American Association of Colleges of Nursing: Commission on Collegiate Nursing Education (CCNE). It is therefore necessary for agencies to thoroughly engage in staff planning in order to be able to meet the growing demand from its clients. Andra Picincu is a digital marketing consultant with over 10 years of experience. It is on record that the staffing, recruiting, and workforce solutions industry makes a huge... 2. The nursing agency plays an important role in the health care industry especially if the industry does not have enough nurses. One of the quickest ways to start earning extra as a nurse is, of … This therefore goes to show that the nursing agency business cannot be restricted to certain demography. Consider these factors when writing your business plan. A growing number of medical settings are now offering telehealth and remote nursing services or investing in artificial intelligence to streamline patient care. The level of competition in this industry is very high as there is competition amongst nursing agencies to be able to cater to as many clients as they possibly can, however only a few of the individual companies actually have a high share of the market value. Nursing agency startup costs are a minimum of $80,000 up to $100,000. They not only have to balance their personal and professional lives but also adapt rapidly to new environments and new routines. Even though certain documentations might differ from state to state, some documents will still remain the same. However, some agencies are struggling with ensuring that the nurses they recruit are able to handle these new technologies by ensuring that they undergo training whenever necessary. I was wondering if … The accelerated retirement rates among registered nurses will further increase the demand for qualified RNs. The aging population as well as the aging workforce and nurse burnout all play a role. Even though you can operate your nursing agency business from home does not mean that you should because location has a very large influence on the success of your business. If you rent or lease a facility in an area that is too far out, then you would need to engage in intense publicity so that more people can be aware off your business. To stay on the safe side, work with nurses holding a CPR certificate, first-aid certifications and food-handler certifications. The increase in demand for services from the health care sector will put increased pressure on the nursing and other health care agencies to find qualified staff. Although nurses make up the largest part of the health care industry, this profession continues to face shortages. Todd W. “The business start up package is well worth the money, and your service has been quick and very professional. If the reason why you started your nursing agency is to grow beyond the city where you are operating to be a nationally recognized brand that might eventually become a franchise, then you should be ready to spend enough money on promoting and advertising your brand. Nursing agencies are usually run by a nurse, who may be the sole owner, or in partnership with another person. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Before starting a nursing agency, make sure you know what is required from an agency RN. A large number of agencies start with a nurse or a tech representing themselves and grow from there. As an entrepreneur, you already know that any business should be registered with the state, have a tax ID number and comply with the law. The industry saw an increase in revenue from between the period of 2011 to 2016 and this is not expected to decline anytime soon. For example, ‘treatment of disease, disorder or injury’. The industry saw a 4.7 percent annual growth between the periods of 2011 to 2016, where there were more than 4,900 nursing agencies employing more than 143,000 people in the United States of America. This is why when starting up; you should provide your services to other smaller clinics, hospitals and individuals so that you can easily build your company profile from there. Therefore in order for you to be able to offer the right services for your clients, certain things have to be in place. The first thing you need to learn is to check with your local state authorities for the rules and regulations in handling a nursing agency plus the permits and licenses you need to acquire so you can legally run the business. The company can miss payroll or underpay employees. You can either decide to offer just the regular care or you can decide to add one or two niches as long as you have the capacity to handle it. Therefore, if you have a nursing license and have obtained the necessary certifications and also have an entrepreneurial spirit, then you can set up an agency that represents reliable and competent nurses and make a whole lot of money. Whether you have previous knowledge of starting a business or not; you’ll learn the fundamental strategies to turn knowledge into money. Healthcare facilities are the clients. In addition to a nursing agency license, you also need a general business license. However, the owner can be held personally liable for all the debts and liabilities incurred by the business. To succeed here you will have to be the best and most available and accessable. The nursing industry is changing at a fast pace. One good thing about the partnership kind of legal entity is that the tax structure is one that is beneficial to the owners. 2. Regarding the equipment you will need to run your nursing agency, you can get fairly used ones from the hospitals who want to upgrade on their equipment or from other medical centers. Some of the financing options that you may therefore need to explore when sourcing for capital for your nursing agency business are; Choosing a Suitable Location for your Nursing Staffing Agency. These professionals may also be required to supervise less-experienced nurses, handle administrative tasks and educate their patients on disease prevention and management.