If you are going to be running a nursing agency business, you will need to ensure that you are able to get qualified nurses and even certified nursing assistants to meet all the requirements of your clients. Understand the Industry The time is now for entrepreneurs to start a nursing agency,nursing registry business, operate a homecare business, or as a medical recruiter or just become an independent healthcare contractor. The state of Florida, for example, states that a nurse registry (which is just another name for a nurse staffing agency) means any person who offers or attempts to secure health-care-related contracts for RNs, certified nursing assistants, companions, licensed practical nurses and other professionals who work in this field. Because marketing takes money, it is very essential that you understand how important it is that you use only strategies that would be very effective in helping you achieve your marketing and corporate goals. Therefore when you are creating your marketing plans and strategies, you will also need to create a powerful company profile that shows what you have achieved and what experiences you have accumulated. Your business plan for starting a nursing recruitment agency should also cover organizational and strategic aspects. Starting Your Nursing Agency Business from Scratch vs Buying a Franchise. In order to open a business … You must have a budget in place for leasing or renting a facility for your nursing agency business, therefore you might need to speak with a real estate agent who would know the best place for you to locate your nursing agency business and one that would be within your budget. In starting your nursing agency business, there are a number of legal entities that are available for use and they are; sole proprietorship, partnership, corporation and Limited Liability Company (LLC). Also, gather financial documentation for each owner, officer or partner of the agency. Therefore the shortage of nurses which have already begun in some regions and cities will allow for more nursing agency businesses to crop up in the hope of ensuring that reliable nurses are given to places where there is demand for them. The rapid recovery experienced is as a result of rising employment and an increase in the number of individuals with health insurance provided for by their employers which have made healthcare services to be more affordable. For example, ‘treatment of disease, disorder or injury’. The partnership kind of legal entity is one where two or more people come together to agree to run a business. I was always looking for ways to make extra money. Having a compassion for patients. The company can miss payroll or underpay employees. A nursing agency contract agreement is a legally binding exchange promises or agreement between a healthcare facility and a nursing agency registry business. Agencies. It is therefore important that you choose a name that is unique, represents the business you do and one that is also memorable as well. The Recruitment Start Up Workshop is designed to give you an insight on the key skills and knowledge needed to set up and run your very own recruitment agency. 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. 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. If however, they will be working for an individual, there may need to go with certain equipment depending on what the needs of the individuals are. 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. According to the American Nurses Association, it is likely that the country would find itself short of about 1 million nurses in the health care industry by the year 2021. If you choose the latter option, search for agencies that already have a customer base and a good reputation. So put on your entrepreneurial hat and let’s proceed. 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. Work Over-time/ Pick up Extra Shifts. The nursing agency is usually run by an administrator who keeps in contact with several clients – existing and potential and also has a schedule of nurses that are available and those out in the field so that when a demand comes up, work can easily be dispatched to those on ground. Give away branded merchandise, such as personalized pens, notebooks, ice and heat packs, pill boxes and other items engraved with your agency's logo and contact information. In addition to a nursing agency license, you also need a general business license. There were times I needed extra money for a special occasion or vacation we wanted to take. Although nurses make up the largest part of the health care industry, this profession continues to face shortages. According to the American Nurses Association (ANA), by the year 2021 there will be a shortage of at least 1 million nurses in the health care industry. 1. 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. Focus on building connections in the local health care community. The nursing industry is changing at a fast pace. Before starting a nursing agency, make sure you know what is required from an agency RN. Additionally, it requires moderate startup capital. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Modern nurses are required to adapt and keep up with these changes so they can thrive in their profession. Both are bad options. Clear Skies Capital, for instance, provides merchant cash advances, lines of credit and working capital loans of $5,000 to $2 million. Also, the partners can be held liable for any debt that is incurred by the business. List your company in local business directories, send out press releases and distribute brochures in hospitals and clinics. 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. Are you going to handle everything on your own or hire employees? Even though gaining experience is encouraged, no responsible nursing agency should offer you qualified temporary nursing shifts until you have completed at least six months in an acute, primary care or community setting. Nursing agencies are usually run by a nurse, who may be the sole owner, or in partnership with another person. Allied Health Professionals. The supply of nurses by an employment agency or employment business to another service provider is not a regulated activity. The nurses must have been certified so that they are able to work with not only individuals but in clinics and hospitals which will therefore boost your reputation. Set up a website for your nursing agency and promote it online via sponsored ads targeted at a local audience. Other threats and challenges that you are likely to face are; a downturn of the economy that will result to people having less to spend on their health insurance and therefore demanding less health care services; and also competition from already established nursing agencies. Starting from the scratch might be beneficial to you especially if you want to be in control of all the aspects of your business without interference from any other person. 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. 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). However, only 85% of them are employed in nursing, and a few thousand are about to retire. Raise the investment capital to start a nursing agency with a business loan or from private investors. Whether you have previous knowledge of starting a business or not; you’ll learn the fundamental strategies to turn knowledge into money. The sole proprietorship kind of legal entity is one that is easy to start up and does not require much paperwork. But having your nursing agency business start up package to offer guidance from the first day gave us a sense of security and confidence to go forward. 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. Considering these facts, it's not surprising that many hospitals are forced to hire external help, as they cannot cover all the work with their own staff. Decide also of which type of business entity you want to apply for your business for the purpose of tax liabilities. Responsibilities of an Agency RN. The nursing shortage has already started as at 2010 as some cities and regions had less nurses. However, the owner can be held personally liable for all the debts and liabilities incurred by the business. The main body regulating the operation of nursing agencies in the UK is the Care Quality Commission, and anyone thinking about starting up a nursing agency must visit its website. 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. Also, you might need to check on the strategies being used by those already in the industry- especially the well-known ones, so that you will be able to work their strategies into your own. It is already taken for granted that your nurses are certified and registered, this is because it will do your reputation a great harm to take in nurses who have not undergone any sort of verification. One of the quickest ways to start earning extra as a nurse is, of … The accelerated retirement rates among registered nurses will further increase the demand for qualified RNs. Cardiopulmonary Resuscitation (CPR) Certificate, Generating start-up capital from personal savings and sale of personal properties, Sourcing for soft loans from friends and family members, Applying for grants from local and state government agencies, Meeting private investors to seek for start-up capital, Formally introduce your nursing agency business to hospitals, clinics, religious, and charitable organizations as well as individuals by sending them a mail about your company, your services and your contact information, Ensure that your business is listed in yellow pages as well as in online directories, Ensure that you place adverts in newspapers (local and national) and health related magazines as well as on radio and television stations, Engage in directly marketing your nursing agency, Distribute handbills and fliers as well as business cards in certain strategic locations, Use the internet as well as social media platforms such as Facebook, Twitter, Linkedin, Google Plus and other such platforms to market your services, Ensure that you place adverts in newspapers, related magazines as well as on radio and television stations, Ensure that you place billboards and banners in strategic and conspicuous locations so as to raise awareness for your nursing agency, Distribute handbills and also paste fliers in certain strategic locations, Raise awareness about your nursing agency by creating and using platforms on social media such as Facebook, Twitter, Linkedin and Google Plus in order to raise awareness about your business, Create an interactive website and use this to promote your nursing agency business, Participate in charity programs in your local community in order to raise awareness for your nursing agency. Any decision or action taken by one partner is binding on the other partners. Now is a good time to start a nursing recruitment agency, as this industry will continue to grow over the coming years. The difference in pay rates can cause issues between agency nurses and permanent staff. List of Well – Known Brands in the Nursing Staffing Business. Currently, there are more than 3.8 million registered nurses in the United States. Client payments begin at week 5. Current and former clients include The HOTH, Bisnode Sverige, Nutracelle, CLICK - The Coffee Lover's Protein Drink, InstaCuppa, Marketgoo, GoHarvey, Internet Brands, and more. The good news is that you could start a nursing recruitment agency even with little or no money and help medical professionals save lives. Thank you! The agency pays employees and invoices clients normally. Due to the effectiveness of publicity in businesses, existing businesses especially those that are of a large scale, usually spend fortunes annually to engage in publicity for their businesses, because asides the awareness that publicity generates, it also generates revenue for the business. Therefore, some of the well-known brands of nursing agencies in the United States of America include; The nursing agency business might be one that is not only booming but is one of the largest growing businesses across the country with franchises and individual businesses being set up every now and then. Possible Threats and Challenges You Will Face When Starting a Nursing Agency Business. Consider these factors when writing your business plan. The demand for nurses, other healthcare professionals and support staff is growing in every sector of the healthcare industry especially in hospitals. If you are looking to start your own nursing agency business in the united states of America, reading through this article is bound to help you out. How to Start a Nursing Agency With No Money Learn About the Industry. A nursing agency is one that provides qualified nursing staff to private patients or health care institutions that require them. 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. This is because nothing is produced or invented by the players in this field to require an intellectual property protection. They do not apply to other regulated activities that the nurse may be providing. Not being found with proper legal documentation will have you not only be penalized financially but you might be banned from running this kind of business or anything similar within the shores of the country. We also took it further by analyzing and drafting a sample nursing agency marketing plan backed up by actionable guerrilla marketing ideas for nursing agencies. Buying a franchise is a different ball game and once you are able to get a good one, it will be beneficial to your business. Even though one can run the nursing agent business via a virtual office, it is still one that is dependent on location as facilities and individuals that make this demand usually do so from a certain location and so for you to be able to compete well, you would need to be able to locate your services in as many areas as possible and this is mostly possible through a franchise system. Learn how to start your own Nursing Agency. 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. 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