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A BETTER WAY TO MANAGE HEALTHCARE CONTRACT LABOR COSTS

Eighty nine 89% of hospitals that have adopted MSPs or VMSs stated that cost savings were the primary goal for these partnerships. Unfortunately, over the past five years, Agency-based MSP programs have proven ineffective at controlling both unit costs and utilization.

Good News for Agencies is bad news for Healthcare Employers

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Average Travel Nurse Bill Rates vs Managed MSP Growth
  • Spend on healthcare agencies has grown 60% from $10 billion in 2013 to $16 billion in 2018.
  • The national average travel nurse bill rate increased 14% in the four years from 2013 to 2016.
  • Legacy MSP/VMS customer satisfaction is low amongst healthcare employers (3.6 out of 5)
  • Agency margins have grown significantly since 2013 and Wall street analysts continue to support Buy ratings for the largest healthcare staffing agencies based on increased market penetration of their MSPs and corresponding margin expansion.

Our three-step approach that helps healthcare employers gain back control over agency spending.

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Dynamic Sourcing Process

That combines market-based pricing analysis, proprietary real-time market demand data, and unique insight into agency delivery capabilities.

Vendor Neutral Approach

To agency management that creates an open-marketplace for agencies to compete with each other to deliver the highest qualified professionals reducing time-to-fill and ensuring the best match for the healthcare employer’s need.

Advanced Proprietary VMS

Technology with customized workflows for all disciplines, and the ability optimize utilization of internal resources, reducing dependency on outside agency.

If you are looking for ways to reduce your agency costs and reliance, reach out to us to schedule a time to speak.

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August 06, 2018/By Jeff Niles
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Author: Jeff Niles

Jeff is Vice President of Sales for Healthcare Workforce Logistics and has been in healthcare contingent workforce management for over 15 years. Prior to joining HWL he was VP of Sales and Marketing at ShiftWise, one of the largest providers of VMS in healthcare installed in over 3,000 hospitals in 50 states and the UK.
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