Nursing and allied health professional wages vary not only among states and cities but also among clinical specialties, certifications, roles, and practice environments. Coupled with the laborious task of managing multiple contract labor agencies, it can be a frustrating recruitment process. The crux of the matter is how do you acquire top temporary talent seamlessly and without overpaying? And how do you uncover if your organization is overpaying in the first place?
If you are negotiating rates with agencies individually and without the benefit of a competitive process for nursing and allied health professionals, you’re most likely overpaying. The reality is that most health systems do not excel at ensuring a competitive rate in the marketplace and often are overcharged for fees and conversions.
A market-rate analysis is a valuable tool in your arsenal—it relies on data from several sources to provide rates by specialty. In addition, the rates include a combination of local, regional, and national variances. Unlike an agency-managed MSP program, Healthcare Workforce Logistics (HWL) offers the ability to have one set rate with all vendors, tiered rate structures, or individual rates with each agency. HWL also monitors and assesses the performance of agencies on an ongoing basis and continuously monitors market pricing. As such, we can make recommendations for periodic adjustments to rates up or down, based on data and analytics that are not biased by any single agency.
There are many disadvantages to managing vendors independently and without a robust VMS and managed service provider (MSP). Email and phone-based communication use valuable time and any attempt to gain visibility into quality and performance metrics is murky at best.
HWL’s Vendor Management System engages all client stakeholders:
Managing the RFP process is time-consuming and requires buyers to allocate precious internal resources—resources severely lacking given the COVID-19 pandemic. HWL’s consultative approach and healthcare staffing-focused technology platform result in savings from market-competitive rates and increased operational efficiencies.
SUMMARY:
HWL examines all rate types in terms of submitted bids to the base hourly rate ranges. We determine a market-competitive rate range for each specialty that will contain total costs while still allowing flexibility to ensure quality staff is available to fill openings.
How it Works:
You can rely on HWL to ensure everyone involved adds value to the organization and the patients they serve.
For your health system to become efficient, every department dealing with vendors needs to share information in real-time. Doing so will empower each team to build from a pool of knowledge instead of each department starting from scratch when managing suppliers. HWL simplifies and streamlines the nursing and allied health professional hiring process with our robust VMS. Combining real-time market data with exchange management tools like our VMS and Direct Hire technology, our clients achieve better fill rates, reduced vacancies, and lower overall costs.
HWL’s VMS Features:
Managing multiple agencies can be a time-consuming and frustrating process, but it doesn’t have to be. HWL can automate all of the hiring process steps by providing an intuitive and easy-to-use platform designed by experts in contingent healthcare workforce management. And by automating all hiring activity, you will gain instant visibility into your talent usage and costs through real-time reports and dashboards.
HWL is uniquely positioned to act as an honest broker for our clients. The combination of our vendor-neutral philosophy, access to real-time market intelligence, and first-hand knowledge of agencies’ inner workings position us to negotiate the most competitive rates.
Allow us to demonstrate how we can help your organization turn real-time data and staffing strategies into actionable results. Contact us today for more information or to schedule a demo.