Your Pain Points and How an MSP Can Help

Four ways an MSP alleviates pain points in healthcare organizations:

1. Pipeline of quality candidates
2. Optimal staffing strategies
3. Reduced exposure
4. Cost efficiencies

You might be under the impression that some level of pain just comes with the territory when it comes to healthcare. Partnering with a Managed Service Provider (MSP) can alleviate some of the pain points of running an organization in the healthcare industry.

Pipeline of quality candidates
One of those pain points creeps up when positions are kept open for too long which can stem from an empty pipeline or lack of quality in those who are waiting in the wings. Fill rates are critical to permanent staff’s morale and patient care, so be sure to ask if an MSP has a carefully selected network of agencies that are vetted based on quality, compliance and ability to deliver the best candidates for your organization.

Optimal staffing strategies
An organization’s workforce is a significant investment in both time and resources, so ensuring that an appropriate spend is based on detailed analysis and proven efficiencies can be a much-needed lifeline on the journey to success. An MSP takes into account industry best practices and your business data to develop an optimal workforce strategy that meets specific organizational goals while providing another layer of quality control.

Reduced exposure
Healthcare is a high-risk industry. Well-thought policies and aptly trained staff can only go so far. An MSP can be the additional safeguard to increase transparency and mitigate certain risks intrinsic to hiring contingent and permanent staff members. Think of them like an extra security force when it comes to vendor insurance policies, background checks, credentialing and contracting making sure your t’s are crossed across the board.

Cost efficiencies
Keeping staffing processes together under the umbrella of a qualified MSP means the contracting, timekeeping, billing and reporting are under one roof with a single point of contact. An MSP saves an organization money by realized efficiencies and giving your staff back valuable time and resources to prioritize patient care and maintain the high level of standard you expect from your workforce.

There is a viable solution to the common pain points of managing a healthcare organization’s workforce. An MSP should be first on your list to call when evaluating next steps toward success because they can offer customized solutions that result in significant cost savings. Learn what sets PPR apart from other MSPs.

Change

On February 10, the buzz was out! Medical Solutions acquired PPR.

Mergers and Acquisitions can come with mixed emotions in our industry. I get it! I’ve been working in the Travel Nursing game myself for over 16 years at the same office, in the same building with many of my same teammates for my entire tenure. And, after all these years, I still come to work with an even greater passion and love for the job and industry as I did on Day 1.

With that being said, change is inevitable. Embracing change can be one of the most difficult tasks to learn and master in life, not just at work. Change is one of our core values here at PPR. We view change like this-Change is an essential component to our success. We embrace new ideas, ask questions and seek solutions. We strive to find effective ways to adapt to our environment. We seek and welcome feedback to help us improve and grow.

Last week when we announced our new partnership with Medical Solutions, that was probably the biggest change and news we have all felt in the history of our company. We immediately thought about our travelers, clients, home office employees and what this ultimately means for PPR. We’ve been PPR for 22 years and that just can’t go away, right? This was our team’s number one priority as we evaluated new owners.

Exactly right! PPR and Medical Solutions have very similar philosophies on culture. We want to create great employment experiences for our staff and our travelers. The similarities in our high touch, traveler friendly models are uncanny. Our brand promise, “We Put You First” drives every conversation and interaction we have with our travelers and clients. We partnered because we have this in common and want to continue to lead the industry in this area. PPR and Medical Solutions are both honest and ethical companies who do things the right way. We are a true value match.

By joining forces, we can have an even larger, more positive impact on the industry. We can drive service levels and traveler engagement to levels no one has ever seen. We can provide great benefits and more job options, but still do it by being “us”-boutique level style, touches and services, but with the resources, client base and job openings of a larger company. It’s the best of both worlds.

I’m excited about the next chapter for both PPR and Medical Solutions.

And, I’m proud to be a part of both organizations.

Excited for the future,

Holly Bass

President, PPR

 

How Do Travel Nurses Get Paid?

Pay packages for travel nurses can be complicated. Even when you understand all the moving parts, calculating the actual offer can be difficult. Travel nurses are paid by the travel nursing agency, not the hospital. And for many reasons, they pay nurses differently than employees working in permanent positions would be used to. The many variables and how they’re presented can add to the confusion. Here we’ll breakdown how it works using a simple analogy.

The pie. This video explains the process of using a pie chart to clearly understand how travel nurses get paid.

Typical permanent placement jobs will pay you an hourly rate. For this example, let’s say that rate is $50/hr. Although there are most likely other benefits included in this example of permanent employment, in terms of pay that’s it. 100% of the $50/hr pie is taken up by the hourly rate. However when we look at pay packages for travel nursing there are several factors such as per diem pay, housing stipends, licensure & certification reimbursement, insurance, and travel reimbursements. A $50/hr travel position will breakdown differently than a permanent position. Using the example from the video housing allowances make up about 26% of the pie (or $13/hr). Per diem pay comes out to about 16% of the pie ($8/hr). Add up travel reimbursement, insurance, and licensure & certification reimbursements for another 20% ($10/hr) and the only thing left is the taxable hourly base rate of about $18/hr (36% of the pie).

You’re still getting paid $50/hr but only the $18/hr base rate is taxed like income. The rest is untaxed! Reimbursements and stipends for travel expenses, licensure & certifications, meals and incidentals, medical benefits, lodging/housing are all untaxed. That potentially makes roughly about 76% of your income as a travel nurse untaxed.

Calculating exact amounts is further made difficult by using different time variables for each aspect of the pay package. This is common in the travel nursing industry and can make figuring out how much you’ll be paid confusing. Contracts are most often listed 13 weeks long and 36 hours per week. Things like reimbursements are often listed as weekly items. Meanwhile, base pay is listed at hourly rates. Finding your true earning potential can be difficult. The best method is to break everything down into an hourly rate and bake your pie from there. In the comparison below we’ve simplified all the math used in this example to showcase the financial benefit of travel nursing.

Permanent Position
Pay rate: $50/hr
Length: 13 weeks
Hours per week: 36
Total hours: 468
Taxable income: $23,400

Travel Position

Pay rate: $18/hr
Untaxed reimbursements: $32/hr
Length: 13 weeks
Hours per week: 36
Total hours: 468
Taxable income: $8,424
Tax free income: $14,976

We hope you now have a better understanding of how travel nurses get paid. If you have any questions give us a shout. We’re always here for you and would love to hear from you.

5 Travel Nursing Truths

Whether you are a new to travel nursing, a long-tenured traveler or still thinking about traveling for the first time, here are five travel truths every travel nurse needs to know:

1. Explore often. The best part about travel nursing is having the chance to explore new places. Don’t forget to take advantage of this unique opportunity as you venture out on assignment.

2. Be flexible. Most people you encounter are appreciative that you’re there. Most assignments only last 3 months, so keeping in good graces with the facility and your managers is very important.

3. It’s not all about money. It is no secret that one of the many benefits of travel nursing is the pay. However, when negotiating how much you will make on a new assignment, don’t forget to remember that travel nursing is not all about money. It’s about experiencing new places while helping and caring for others.

4. Recruiters make a difference. Choose your recruiter wisely. Who you decide to work with can make or break your personal travel success. Trust is absolutely key. If you don’t trust your recruiter, you might want to consider working with one you do.

5. Don’t be afraid to ask questions. What are the ratios? What is the float policy? Do you have CNA/techs? What computer system does the facility use? All of these are important questions that you should feel comfortable asking when going to a new facility. After all, knowledge is power, and asking questions will only help you succeed and encourage the facility to ask you to extend the assignment.

Do you have questions about travel nursing opportunities or an upcoming assignment? Contact us or reach out to your PPR Travel Nursing Recruiter today.

Why You Should Be Using an MSP

Does the length of your unfilled positions roster resemble that of a shopping list? Are you combing through your HR expenses with the goal to minimize costs without compromising employee morale?

There’s good news after all. The solution to these and other challenges might already be packaged up in a Managed Service Provider (MSP). Here’s why you should look to an MSP to fill the voids you’re experiencing right now or might be soon.

Centralized, Dedicated Team
MSPs offer a one-to-one partnership versus what others might say is a “one-to-too-many-to-count” arrangement. A qualified MSP is a service focused team of experts who can shed light on where there’s room for improvement in your organization. Is your elevated turnover a result of starting with a lackluster candidate pool? Is your data spliced across too many vendors and platforms to see the big picture with clarity? Work with one point of contact who can untangle it all.

Affiliate Networks at Work
Selecting a reputable MSP gives you the advantage of working with experienced recruiters who know the in-and-outs of the industry. They maintain large affiliate networks they can task with finding your next team member who fits well with your culture and has the necessary skills to get the job done.

Substantial Cost Savings
Manage your temporary workforce with a new degree of efficiency by streamlining the hiring process and reducing the time to fill. An MSP saves hard costs as well as the soft costs that can skyrocket when you factor in the unrenewable resource of time. Allow an MSP to negotiate the contracts and make sure you aren’t paying unnecessary premiums. An added bonus is one bill without hidden fees.

Leveraged Business Intelligence
Data talks but it’s important for healthcare leaders to listen to the right metrics. Real time reporting capabilities makes a managed service provider an extension of your analysis team. Make informed decisions based on relevant facts and an MSP you can trust.

It’s important to point out that VMS and MSP are not interchangeable acronyms in the vendor solutions world. We’ve outlined the difference for you.

Interested in learning about our MSP services? Contact us today.