starmed and msn local offices closed in the past 2 weeks

  1. Hi, Just heard that Starmed and Msn local offices have closed in the past 2 weeks here in Nebraska. I wonder what this will mean to my company, they say our office is strong but I am not so sure. The work is slow around here lucky to get 2 or 3 shifts a week. I wonder if it will pick up now with those offices closing. Have these companies closed offices all over or is ot just in nebraska?
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  2. 4 Comments

  3. by   BadBird
    I have heard that they are closing nationwide but I don't know if it is fact or just gossip. I guess you could call and ask what their plans are. Good luck. By the way, agency is slowing down here too.
  4. by   eddy
    Keeping in mind that this time of the year is traditionally the slowest time for agency (low census) in the midwest, this is really when you see the mediocre agencies getting thinned out.

    StarMed has been having some financial problems for some time now. They have closed around 30+ offices. They have been no stranger to scandal, and have been the subject of many expensive lawsuits over the past year and a half. My gut is that they are not long for the world. RehabCare Group (owner of starmed) suffered some pretty bad year-end results in large part due to the StarMed division's less than satisfactory performance last year.

    MSN is REALLY hurting financially so I have heard. All second hand info mind you, but I do know for certain they have been closing offices around the nation. I have also heard that they may be looking for a buyer or possibly being forced to liquidate the company if they don't.

    Honestly, a lot of companies are hurting right now. Due to the economy being in the gutter, a lot of large healthcare companies are slowing on their accounts payable (taking longer to pay). Unlike you and I, when a company buys something they don't have to generally pay for it until 30-60 days later, amounting to a loan from the service provider. Many people claim (incorrectly) that the economy does not effect (or is it affect) the healthcare market. Quite wrong on many levels, but the subject for a different thread. Anyway... Many of these large agencies are finding that cash flow is starting to present serious issues. Since a large number of these big agencies grew at a rate at which they were forced to take on great amounts of debt, they are now feeling the crunch of not getting paid in the time the are used to. Now paying even more interest in fact on the business they already sold. It's crazy, and quite a worry.
  5. by   koda
    I am a Starmed traveler and after reading the "gossip" section gave a call directly to my company as this news if true would certainly impact me. The word I received is that yes Starmed has closed offices but they have been their Agency division. The travel division is strong and well. I am told they are actually cash heavy right now and in no danger. I have asked them to log on and give some facts. Rumors are dangerous I am glad to be able to give some good info. By the way this is my first travel assignment and as the first assignment there were some glitches in the communications in the beginning HOWEVER since I was out of the country trying to make arrangements for my first assignment I will tell you that all worked hard to resolve any problems and my move into this assignment was relatively easy. Everything was ready for me when I arrived and the housing is BEAUTIFUL. If you would like to ask me about travel please feel free to contact me. RN from sailing vessel KODA
  6. by   hennys
    post removed by admin for advertising.
    Last edit by brian on Jul 21, '03

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