Starting An Agency - page 5

I'm exploring the possibility of starting an agency. I've worked agency for several years in an urban area with many hospitals (and agencies). I have a pretty good feel for what hospitals are paying... Read More

  1. by   gsnga
    Just wanted to let you know that I had my own agency and it failed. Hospital's account payables are horrible. The average time from the invoice being submitted to me receiving my pay was 60 - 90 days. In the meantime I had to pay my nurses. Don't forget that most facilities require you to have professional liability of 1 million on the front end and three million on the back end. I know it sounds good to be self employed. The reality is it can bankrupt you quick. It took me four years to recover. I currently work for the largest per-diem agency in the country and the pay is good. Make sure you talk to a financial advisor before you get in over your head.
  2. by   Michael Malecki
    Quote from gsnga
    Just wanted to let you know that I had my own agency and it failed. Hospital's account payables are horrible. The average time from the invoice being submitted to me receiving my pay was 60 - 90 days. In the meantime I had to pay my nurses. Don't forget that most facilities require you to have professional liability of 1 million on the front end and three million on the back end. I know it sounds good to be self employed. The reality is it can bankrupt you quick. It took me four years to recover. I currently work for the largest per-diem agency in the country and the pay is good. Make sure you talk to a financial advisor before you get in over your head.

    Excellent points gsnga!

    Michael
  3. by   suzanne4
    Hi Michael! Will you be in Mi towards the end of July? Planning on a visit then..............
  4. by   Michael Malecki
    Quote from suzanne4
    Hi Michael! Will you be in Mi towards the end of July? Planning on a visit then..............
    Suzanne:

    I'll be here. . . this IS the headquarters for everything. . . Give me a call when you get in. . .

    Michael
  5. by   sherese
    Quote from parin4u
    edited by The Moderator to remove solicitation.

    This is a violation of TOS; if you have any questions feel free to PM me.
    Hi there I live in NYC and i too will like to start a homebased temp nurse staffing agency but I will like to know how much should i pay my RN's and how much should i charge? Also How does scheduling work? Do hospitals call 24hrs in advance to order nurses.when and how do they ley you know they are looking for prn that you have availble? what do you do if you have nurses that change the times they can work? Can you please help me to understand the how a temp agencyis runned?
    thanks
    sherese
  6. by   sherese
    Hi to all I live in NYC and i will like to start a nurse staffing agency. Can anyone give me some advice as to how much agencies charge in NYC. i will be in competition with agencies like White glove ( a huge local agency) Also Can anyone tell me what running an agency is like. do hospitals call way in advance to order nurses? what if they call you and you dont have any nurses available?How do you get contracts and recruit nurses to join your agency? and do nurses who already have fulltime jobs also work 13 wk assignments.Who are these nurses that work on 13wk assignments do they have regular jobs?
  7. by   suzanne4
    I think that you need to do alot more research into this before deciding that this is what you want to do? Do you have unlimited resources as far as funding your operation? Remember that the facility may not pay you for 60 to 90 days but you will be expected to pay your nurse long before that money comes in.
    Best thing for you to do is make an appt with your accountant................
    And find out what the rules are in NY..................
  8. by   suzanne4
    Have you ever worked agency?
    White Glove is an international agency that recruits from all over the world.
    Every facility will pay different rates, there is not one figure. You need to do your own negotiating for your contracts.
  9. by   sherese
    Quote from suzanne4
    Have you ever worked agency?
    White Glove is an international agency that recruits from all over the world.
    Every facility will pay different rates, there is not one figure. You need to do your own negotiating for your contracts.
    Right now iam just trying to understand the business and how it runs. i know that I will need lots of money in order to pay the nurses but i also know that there are funding companies that that can help me do this. Can you please tell me something? I want to know after I have recruited some nurses willing to work for me and after I land some accounts in hospitals etc. When a client hospital is looking for a nurse for per diem work how much in advance do they call, usually when do they contact you . do they call you 24 hrs before they need a nurse? what happens if they call and you think you have someone to fill a position but then for some reason they cant make it what is usually done? I want to know a little bit about how the business is ran from the inside so that when I set up my business I can create my own unique selling point that will deal with these types of issues
  10. by   suzanne4
    Ir completely comes down to the arrangement that you have with a particular facility. They may schedule the same nurse one month in advance, or just phone you at the last minute. How they first set up anything with you, will depend quite a bit on the nurses that you employ.

    Another name for agency is "staff relief"---- which means you can be called a the last moment to fill a shift when they get a call-in. Many hospitals will have an agreement in place that if they cancel the nurse within two hours of the start of the shift, then they are required to pay for four hours. But on the same token, if the nurse that you have scheduled cancels at the last minute, you owe the hospital for four hours if you can't get them replaced.

    Do you actually have any experience in working agency or per diem?
  11. by   sherese
    Quote from NorthStar
    Hi,
    I've started my own agency and have learned quite a bit in the last 5 years....e-mail me if u want more info.
    Hi there
    Can you tell me the title of the administator you would contact if you want to advertise you temp agency for the first time. in other words when you contact a hospital or nursing home and you want to land a contract. Who do you ask to speak toif you only have the hospitals general phone number
  12. by   Michael Malecki
    Quote from sherese
    Hi there
    Can you tell me the title of the administator you would contact if you want to advertise you temp agency for the first time. in other words when you contact a hospital or nursing home and you want to land a contract. Who do you ask to speak toif you only have the hospitals general phone number

    Sherese:

    I think you would benefit from working at an agency and discovering the answers to many of the questions you pose AND many more.

    Michael
  13. by   nightingale
    I still find it amazing, that people who truly "do not know the business" are those who seek out contracts.

    Nurses, can, and do, get their own contracts and benefit from cutting out the middle man in Agency Nursing.

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Starting An Agency