Therefore, if you hope for your business to be nationally reckoned with, you will need to rent or lease a facility in a location that is very conspicuous, accessible and within the demography of your target market. Set up a website for your nursing agency and promote it online via sponsored ads targeted at a local audience. Before drafting your business plan, assess the capital needed to start and run a nursing agency. The good news is that you could start a nursing recruitment agency even with little or no money and help medical professionals save lives. Even though the nursing agency business is one where brand popularity is more prominent for individual companies in certain regions than in others, there are still some brands that are well known across the regions where they operate from and this could be because of some factors such as; franchise systems, massive publicity strategies, highly reliable nurses in its employ and so many other distinguishing characteristics. Therefore, some of the basic legal documents that you would need to possess in order to run your nursing agency business successfully in the United States of America are; The nursing agency is a business that requires a substantial amount of money to start up, therefore if you intend starting this business, you must have enough finance at hand. 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. 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. In addition to a nursing agency license, you also need a general business license. Start at the right time. 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. In order to open a business … The difference is that she will work on a contract basis. If you are however confused as regards what policies to get, you might need to visit an insurance agent or broker that will help you determine how much you would need to budget and what insurance policies you would need to procure for your nursing agency business. The nursing agency business which helps to place nurses and certified nursing assistants in vacancies in institutions or with individuals in order to help improve the physical and functional well-being of others, is seen by IBISWorld as an industry that generates $16 billion annually. The senior citizens alone account for 17 percent of the total population in the United States of America. The Service Delivery Process of a Nursing Agency Business. NursingCAS: What’s the Deal With Accreditation? Todd W. “The business start up package is well worth the money, and your service has been quick and very professional. There are many things to complete before starting a new nursing recruitment business, but, getting insurance and permission from drug screening services are a must. This will make healthcare agencies to compete for the available practitioners thereby making the competition of nurses to be acute. 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. Also, think about how you want to promote your nursing recruitment agency and reach out to potential clients. 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. See if nurse staffing factoring can help your startup and get your company moving. 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. As a nursing agency business, you will need to prove your worth many times before you would be approached by any huge hospital or clinic. 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. Clear Skies Capital: Loans for Home Healthcare Agencies, GUD Capital: Home Health Care Agency Loans – Nursing Service Financing, Illinois Department of Labor: Application Instructions for the Nurse Agency License. Agency nurses must have the ability to form relationships quickly, work well on their own as well as with a team and anticipate the needs of their patients. The additional startup cost accounts for hiring an office staff and launching an effective advertising campaign. I am writing a business plan and I am aware that it may take the hospital more than 30 days to pay my company so that I may pay my workers however I dont have a lot of money to cover payroll expenses. The owner of a nursing staffing agency doesn't need formal training or higher education. Even though certain documentations might differ from state to state, some documents will still remain the same. Below are some of the platforms you will need in order to market your nursing agency business; Strategies to Boost Your Nursing Staffing Agency Brand Awareness and Create Your Corporate Identity. 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. The demographic and psychographic composition of those who require the services of a nursing agency are healthcare facilities, senior citizens and individuals with health challenges that might require help in their homes. However, research has shown that demand for qualified and capable staff will continue to be above supply for a few more years and will therefore cause a lag in growth for this sector. 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. How much do you plan to charge for your services, and how will you pay the nurses employed by your agency? She holds a BA in Marketing and International Business and a BA in Psychology. 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). Consider whether you will start your own nursing agency business or become part of a franchise. Hard Copy and also available in E-book. 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. if you are located in a remote place, you might not find those willing to drive far out to your agency; also, you might need to spend more to create awareness for your business. These exemptions apply to the regulated activity of 'nursing care' only. Just as every nurse has their reasons for choosing agency work, it’s only logical that the qualities they seek in a nursing agency will differ too. Starting a nursing agency requires a relatively small start-up sum, but you will need to have sufficient money in reserve to pay your nurses in case clients pay their invoices late. 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. Remember, it's … 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. Once you have bought a quality franchise, you would not have to worry about handling certain aspects of your business such as advertising and promotion and other core aspects of the business. Also, the partners can be held liable for any debt that is incurred by the business. If you choose the latter option, search for agencies that already have a customer base and a good reputation. Decide also of which type of business entity you want to apply for your business for the purpose of tax liabilities. As an entrepreneur, you will need to have laid down strategies to be able to rise above any challenges that you might encounter. 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. 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 nursing agency plays an important role in the health care industry especially if the industry does not have enough nurses. Thank you! To do that, you first need to choose a business model. 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. Possible Threats and Challenges You Will Face When Starting a Nursing Agency 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. Contact private and public hospitals, clinics, medical offices, nursing homes and other health care settings that may need your services. Attend health care events and conferences to network and build relationships with prospective clients. If you have conducted a thorough research on the nursing agency business sector, you will find out those who take the business seriously are those who are either leasing or renting a facility for their business. This is because nothing is produced or invented by the players in this field to require an intellectual property protection. 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. What you may not know about are the business licenses, permits and accreditations you need at the local level since each state has different regulations. 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. Therefore, in choosing a location for your nursing agency business, it must be one that is located within your target market hub, one that is within your budget, visible and easily accessible. Desire to be your own boss. So put on your entrepreneurial hat and let’s proceed. I based this article on information from my setting up my own agency and from experience doing set up and developement of other Nursing Agencies......sometimes called Supplemental Staffing Agencies. 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). Start your nursing agency business in an area with a growing population of seniors. Some of the factors responsible for the growth are an increase in demand for health care services, a growing aging population, as well as a shortage of qualified healthcare personnel such as nurses. Understand the Industry The sole proprietorship kind of legal entity is one that is easy to start up and does not require much paperwork. The first step you will need to take in starting your nursing agency business is to conduct a research to know the health and safety code regarding nursing agencies in the jurisdiction you intend to operate your nursing agency business from. Any decision or action taken by one partner is binding on the other partners. Is Professional Certification Needed to Run a Nursing Staffing Agency? Running Your Business Open up a small business account at your bank. A nursing agency is one that provides qualified nursing staff to private patients or health care institutions that require them. 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. Agencies. Both are bad options. The partnership kind of legal entity is one where two or more people come together to agree to run a business. Reviewed by: Jayne Thompson, LL.B., LL.M. 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. 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. 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. During my career in nursing I was a single mom raising my 2 children on a single salary. Hello:) I am in the process of starting a staffing agency. 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. I occasionally hire a traveler, but for the most part I make much more money just working assignments on my own. Additionally, it shows that you are following the best industry practices. You may also contact private organizations, such as GUD Capital and Clear Skies Capital, that offer loans for health care agencies. 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. 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. Allied Health Professionals. A growing number of medical settings are now offering telehealth and remote nursing services or investing in artificial intelligence to streamline patient care. The accelerated retirement rates among registered nurses will further increase the demand for qualified RNs. 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. Technological innovation, medical advances and government regulations are shaping this industry. This can help you build trust with your clients and demonstrate your commitment to a high standard of services. Current and former clients include The HOTH, Bisnode Sverige, Nutracelle, CLICK - The Coffee Lover's Protein Drink, InstaCuppa, Marketgoo, GoHarvey, Internet Brands, and more. Another reason is that hospitals in order to cut costs are no more focusing on hiring long-term and permanent staff but are instead relying on getting temporary workers to handle any influx in demand that they might have. 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. 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. Before starting a nursing agency, make sure you know what is … 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, below are some of the names that you can consider if you are thinking of starting your own nursing agency business; Getting insurance policies is very important if you intend starting your own nursing agency, and is considered very vital by the authorities in the United States of America especially as you will be handling patients and other kinds of individuals and anything could go wrong. Depending on the agency’s location and needs, you can expect to pay anywhere between $105,100 and $199,400. 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. Catchy Business Name Ideas Suitable for a Nursing Staffing Agency Business. 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. However, only 85% of them are employed in nursing, and a few thousand are about to retire. Nurse Next Door: What Are My Start Up Costs? The agency pays employees and invoices clients normally. Starting Your Nursing Agency Business from Scratch vs Buying a Franchise. The nursing industry is changing at a fast pace. I was always looking for ways to make extra money. The industry saw an increase in revenue from between the period of 2011 to 2016 and this is not expected to decline anytime soon. 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. Basically, you would need a chief executive officer, human resources manager, admin and schedule manager, accountant, business development and marketing executives, registered nurses, certified nursing assistants, front desk officer, security guard, cleaner, and driver. Every entrepreneur starting a business ought to be aware that there are threats and challenges that they will likely encounter and should therefore make preparations on how to handle the threats and challenges when they occur. 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. Having valid insurance will protect your business in every field, and will cover some funds when you face any losses. 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. 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 important that you choose a name that is unique, represents the business you do and one that is also memorable as well. 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. … Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Andra Picincu is a digital marketing consultant with over 10 years of experience. Modern nurses are required to adapt and keep up with these changes so they can thrive in their profession. Purchase a $5,000 bond from a local insurance agent and have the agency use your desired opening date as the date on the bond. 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. 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. According to the Bureau of Labor Statistics, the employment of registered nurses is estimated to increase by a staggering 12% between 2018 and 2028 due to the rising rates of chronic illnesses and the growing number of baby boomers looking for quality medical services. Another option is to open a nursing agency franchise. New Edition and updated forms for 2006. However, all nurses employed by the agency must be fully licensed and accredited. 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. In her daily life, Ms. Picincu provides digital marketing consulting and copywriting services. 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. Starting your business from the scratch and buying a franchise are options you would need to consider when starting your nursing agency. 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. 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. A large number of agencies start with a nurse or a tech representing themselves and grow from there. One good thing about the partnership kind of legal entity is that the tax structure is one that is beneficial to the owners. The sole proprietorship kind of legal entity is one that is easy to start up and does not require much paperwork. Although nurses make up the largest part of the health care industry, this profession continues to face shortages. Even though you do not need any professional certification in order to run a nursing agency business, your nurses will need to be certified in order to be able to offer their services wherever they might be demanded. This means that the more health coverage individuals receive, the more there will be patients demanding medical attention. Once you have determined that you want to start a nursing agency, you must be ready to ensure that you recruit only qualified and competent nurses and not just any individual that you provide training to. 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. The healthcare facilities include, hospitals, assisted living homes, group homes for the elderly, clinics as well as other facilities where the care of a nurse is needed. Learn how to start your own Nursing Agency. An agency nurse has the same responsibilities as a registered nurse working in a medical setting. Additionally, many of those who embrace this career path are women, and they may leave the profession or take a break during their childbearing years to build a family. Those who embrace this profession often wear many hats, juggling the needs of their patients with the requirements of working in unfamiliar settings. 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. This is one of the basic criteria of running this business, which is why it is important that you know and understand your target market and what they will likely need. The industry is expected to experience more growth that will be sustained over the five years to 2021. Each option has its pros and cons and so you will need to carefully consider which option will be beneficial to you in the short and long run. If recruitment was really as easy as non-recruiters believed … For example, ‘treatment of disease, disorder or injury’. 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. If this sounds like you, read on to find out how to start a home care agency… Your business plan for starting a nursing recruitment agency should also cover organizational and strategic aspects. The supply of nurses by an employment agency or employment business to another service provider is not a regulated activity. Responsibilities of an Agency RN. 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. One of the quickest ways to start earning extra as a nurse is, of … The nursing shortage has already started as at 2010 as some cities and regions had less nurses. 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. 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. Nursing agency startup costs are a minimum of $80,000 up to $100,000. The first three weeks are uneventful. Therefore, some of the basic insurance policies that you should consider purchasing if you intend starting your own nursing agency business in the United States of America are; Intellectual Property Protection/Trademark. Problems start in week 4 when the company does not have enough funds to handle payroll. Therefore, some of the niche areas that you might need to look into when starting your nursing agency business are; The Level of Competition in the Nursing Agency Industry. 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. However, future estimates show that close to 1.3 million health care workers will enter the market leading to a job growth of 50 percent by 2018. 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. Before starting a nursing agency, make sure you know what is required from an agency RN. Private nursing service is relatively easy to start. Nursing agencies are usually run by a nurse, who may be the sole owner, or in partnership with another person. I was wondering if … 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. To succeed here you will have to be the best and most available and accessable. Currently, there are more than 3.8 million registered nurses in the United States. Decide whether you will work from home or set up a physical office, who will be in charge of what and how you'll screen and interview candidates. As agency staff, there is no association with the hospital and therefore the challenge of being accepted by permanent staff. The demand for nurses, other healthcare professionals and support staff is growing in every sector of the healthcare industry especially in hospitals. She works closely with small businesses and large organizations alike to help them grow and increase brand awareness. However, the owner can be held personally liable for all the debts and liabilities incurred by the business. 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. Typically Per Diem Nursing (PRN) jobs carry no medical benefits, no pension plans, no paid time off and no holiday pay. Raise the investment capital to start a nursing agency with a business loan or from private investors. Also, gather financial documentation for each owner, officer or partner of the agency. 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