Starting An Agency

nightingale, RN · Mar 13, 2006

I really would like to start an agency. Could someone help ?

I realize this thread started sometime ago; it is still timely though.

NurseFrazier:

I see you are a new poster. If you can, tell us a little about yourself. If you are a Nurse Entrepreneur, tell us here:

https://allnurses.com/forums/f56/calling-all-nurse-entrepreneurs-24358.html

For info regarding Directly Contracting, try starting with the Nurse Entrepreneur Forum. Here is one on Starting your own business (and THAT is a good place to start).:

https://allnurses.com/forums/f56/business-planning-support-49850.html

Her is the Nurse Entrepreneur Forum:

https://allnurses.com/forums/f56/

That should be a good start.

night

inspiredrn · Dec 9, 2006

How are you doing with this business now? What did you do to get started?

katilpz · Dec 24, 2006

I did just that. See my post (#79) under the heading "Nurses in other professions.
Start out slow - just you or maybe one other nurse. Then work to expand if you want to. You start out too fast or too big and you can get overloaded.
Figure 6-8 weeks from the time you bill to the time you actually receive a check. I am glad to share information, but will only do so if I am contacted by e-mail or private message due to the advertising restriction which I support.

:lol2: Hi, can u tell me how to pm or find your email here. i search but found none. i high-lighted your name but your wyomming company appears & none

of your name appear from that company.

I also want 2 start my own.

aaronflo · Dec 24, 2006

hi dear friends! i want to start an agency in the nyc area, i have never worked for an agency; i do have the money to finance my own payroll

i need help in a few areas; first can anybody tell me what insurances do i need to obtain and what not

second, do per diem nurses get paid benefits? if yes, after how many hours? who usually pays for malpractice insurance? the agency or the nurse

also can anybody tell me how to get help and recourses on developing policy and procedures?

thanks, i appreciate any of your thoughts!

LadyNASDAQ · Jan 2, 2007

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 agencies for nurses. I am thinking about a small recruitment of 12-20 experienced RNs, most of whom I have worked with and know to be excellent caregivers. And they are motivated to work. I know that I can charge less than any agency in the area, and at the same time pay my nurses more than anyone else, and still make money. My overhead will be very low, as I will run this from an office at home. I'm prepared for long hours and legwork. Certainly there are obstacles, not the least of which relates to payroll. I do not have the cash reserves to buffer against hospital billing cycles which can be anywhere from 2-4 weeks or more. Obviously, I want my nurses getting paid on time.
Any folks out there running an agency, or experienced in these matters? I'd appreciate any feedback.

You'd probably do better as an IC. This way you get paid along with the Nurse.

katilpz · Jan 17, 2007

I'm interested.

i'm looking for an agency in the US/UK who's willing to have an

ASSOCIATE RECRUITER from the Philippines.

Anybody?

I know a lot of RN's here.

Mac:balloons:

LadyNASDAQ · Jan 23, 2007

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 agencies for nurses. I am thinking about a small recruitment of 12-20 experienced RNs, most of whom I have worked with and know to be excellent caregivers. And they are motivated to work. I know that I can charge less than any agency in the area, and at the same time pay my nurses more than anyone else, and still make money. My overhead will be very low, as I will run this from an office at home. I'm prepared for long hours and legwork. Certainly there are obstacles, not the least of which relates to payroll. I do not have the cash reserves to buffer against hospital billing cycles which can be anywhere from 2-4 weeks or more. Obviously, I want my nurses getting paid on time.
Any folks out there running an agency, or experienced in these matters? I'd appreciate any feedback.

I remember my Dad urging my sis and I to start an agency and me saying NO WAY! The cost is enormous and the leg work is horrendous. To compete with the big biys is laughable because the hospitals want so much from you and so much from the Nurses themselves. It's easy to get into deep financial debt and when you know that if the business fails, it does impact your credit whereas in the past they were separate and apart. Look at the new laws and it will dissuade you from even thinking about it. It also takes months for a hospital to pay their bills and you'll have to have a lot of money to back up your payroll.

It's a wonderful thought but as for me, I wouldn't touch it. I've been a Nurse for 28 years. My sis and I went to Nursing school together. Both of us wouldn't dream of doing this knowing that if it fails, there goes our personal credit.

busnurs · Mar 8, 2007

hi kev97rach

just wondering if i could ask you a few questions...get some tips from you as i am also intersted in this type of business. please email me when you have time...

thanks

some of you are saying that it is expensive and need a lot of capital to start your own agency, but let me tell you what we did. i started my agency with $0.00 in the bank. that's right, zero! i was able to get my first contract with the local hospital (it's all about who you know!) if you've worked at a hospital before and got to know the staff and directors, then that's a big plus. i spent $100.00 on a package i received off the internet that came with a book and sample contracts to get me started. once i got my contract, i pulled all the shifts in the beginning that way i got all the money i didn't have to pay any employees. by the way, i'm only an lpn and charged $32.00-$33.00 per hour. just after two weeks, i hired about six more employees and they started pulling shifts. it also works out good because the hospital pays my invoice every two weeks, the same time they do their payroll. so, i pay my employees every two weeks when i get the check from the hospital. i realize not every hospital will do this, but if you can find one that will and get that contract, it really is not expensive to start. also, you can purchase a program like quickbooks for about $200.00 to process your payroll, it's really easy. any questions, please feel free to email me. hope this helps!

personal e-mail addresses are not permitted to be posted here for your safety.

rtinkam · Mar 18, 2007

SUZANNE4 to help:

I would appreciate if you can kindly check your PM and reply to my PM.

Thanks.

pedsnurse79 · Mar 27, 2007

I have 10years of staffing experience. I can help you out. What areas are you wanting to cover and do you have your workers comp and liability set up?

pedsnurse79 · Mar 29, 2007

Im a recruiter with 10 years experience, are you looking for staffing lists or a recruiter?

Boomer69 · Jun 17, 2007

I hope you don't get too discouraged with the financial end of your endeavor. I know there are many start up agencies that found ways to finance their payrolls. Even if you have to rely on factoring companies for awhile. They may take a cut but you can still make a profit until you get more established. Check them out on the web and make some inquiries. Let me know if this helped you. Good Luck and don't give up! I'm in the same situation and I will research until I exhaust every possibility. The market for opportunities in this field are growing and it can only get better.