How Staffing Companies Can Save Facilities Recruitment Dollars
Healthcare organizations dedicate a significant amount of time and money to the costly, labor-intensive process of recruiting physicians, physician assistants, and nurse practitioners. While costs vary depending on factors such as regional market forces, facility size, and staffing needs, the American Medical Association estimates that the price of replacing a physician is often two to three times as much as the annual salary of the physician who left.
That estimate takes into consideration both direct and indirect expenses associated with the recruitment process. Here, we outline those expenses and discuss how a full-service staffing firm – like All Star Healthcare Solutions, which places providers on locums assignments as well as in permanent positions – can help control the costs associated with the recruitment process.
Direct costs are expenditures specifically associated with the recruitment process. Often set by outside sources, such as a job board’s fee to advertise open positions, there is little wiggle room on these expenses. Fortunately, staffing partners can consolidate direct costs.
Shrink the advertising budget. Partnering with reputable staffing agencies—instead of simply posting openings on online job boards—can save time, money, and headaches. All Star has a robust pool of high-quality physicians, NPs, PAs, and CRNAs to choose from. We fully vet and form a relationship with every provider we place, so we are experts on finding the best matches, which ultimately saves time and money for healthcare organizations.
The indirect costs of understaffing include things like provider burnout and longer wait times. But healthcare facilities can remedy these problems by utilizing locum tenens providers.
Reduce the costs and effects of burnout. More than one-third (37 percent) of doctors say “spending too many hours at work” is the biggest contributor to burnout, according to a Medscape survey. Using locum tenens means staff providers are not asked to log extra hours to fill in the gaps, which translates to long-term cost savings resulting from less overtime, fewer sick days, and greater staff retention.
Meet patient demand. When a facility does not have enough providers to see patients, revenue drops. Locum tenens helps fill the void to mitigate that loss of income.
Condense the onboarding process. Partnering with the right staffing agency for your locum tenens needs saves time and money on administrative tasks, too. All Star has dedicated experts to handle credentialing, licensing, travel, risk management, and quality assurance. Committed to providing “Red Carpet” Service at every interaction, we make things as simple and affordable as possible.
To learn more about how you can save on recruitment costs, call 800-928-0229 to speak with one of our dedicated consultants or contact us online.