List of Niche ideas Within the Nursing Staffing Business That You Can Specialize in. To stay on the safe side, work with nurses holding a CPR certificate, first-aid certifications and food-handler certifications. Starting a nursing agency would require you to have a substantial amount of money which is why it is very essential that you have conducted feasibility studies as regards the business and then prepare a business plan to help determine all the actions and decisions you will make during the course of starting your nursing agency business. The industry saw a 4.7 percent annual growth between the periods of 2011 to 2016, where there were more than 4,900 nursing agencies employing more than 143,000 people in the United States of America. Choose the appropriate long-term care: Other options aside from a nursing home include hiring a home health agency, adult day services and moving to … To succeed here you will have to be the best and most available and accessable. Healthcare facilities are the clients. Catchy Business Name Ideas Suitable for a Nursing Staffing Agency Business. List your company in local business directories, send out press releases and distribute brochures in hospitals and clinics. A growing number of medical settings are now offering telehealth and remote nursing services or investing in artificial intelligence to streamline patient care. List of Well – Known Brands in the Nursing Staffing Business. Reviewed by: Jayne Thompson, LL.B., LL.M. The nursing agency plays an important role in the health care industry especially if the industry does not have enough nurses. Purchase a $5,000 bond from a local insurance agent and have the agency use your desired opening date as the date on the bond. You can also look at what your competitors are calling their nursing agencies so as to have an idea of what will be deemed fitting. Both are bad options. However, the owner can be held personally liable for all the debts and liabilities incurred by the business. I was always looking for ways to make extra money. Clear Skies Capital: Loans for Home Healthcare Agencies, GUD Capital: Home Health Care Agency Loans – Nursing Service Financing, Illinois Department of Labor: Application Instructions for the Nurse Agency License. Although nurses make up the largest part of the health care industry, this profession continues to face shortages. Before starting a nursing agency, make sure you know what is required from an agency RN. Not hiring the needed healthcare professionals can threaten the viability of the nursing agencies and allow them to lose revenue, destroy patience, confidence, have lapses in quality care and cause a burnout for the staff on ground. Illinois, for example, requires nursing agencies to be licensed under the act by the Department of Labor, and separate applications must be submitted for each location. Those employed by nursing agencies work as independent contractors and receive a fee for their services. Private nursing service is relatively easy to start. Having valid insurance will protect your business in every field, and will cover some funds when you face any losses. Accessible Home Health Care, for example, requires an initial investment of $125,000 and sufficient funds to cover living expenses during the first six months of business. Choosing a business name for your nursing agency business is very important as the name you choose will determine how you are perceived in the industry. Therefore, if you have a nursing license and have obtained the necessary certifications and also have an entrepreneurial spirit, then you can set up an agency that represents reliable and competent nurses and make a whole lot of money. This is one of the basic criteria of running this business, which is why it is important that you know and understand your target market and what they will likely need. However, it is necessary that you conduct a thorough research on the franchise you intend to buy so that you do not end up wasting money on something that will not be beneficial to your business. Every entrepreneur starting a business ought to be aware that there are threats and challenges that they will likely encounter and should therefore make preparations on how to handle the threats and challenges when they occur. What are the Best Gifts for Hair Salon Opening? As a nursing agency business, you will need to prove your worth many times before you would be approached by any huge hospital or clinic. Because marketing takes money, it is very essential that you understand how important it is that you use only strategies that would be very effective in helping you achieve your marketing and corporate goals. This therefore goes to show that the nursing agency business cannot be restricted to certain demography. Also, gather financial documentation for each owner, officer or partner of the agency. She holds a BA in Marketing and International Business and a BA in Psychology. See if nurse staffing factoring can help your startup and get your company moving. You may also contact private organizations, such as GUD Capital and Clear Skies Capital, that offer loans for health care agencies. Remember, it's … Her goal is to help businesses understand and reach their target audience in new, creative ways. I always had a full time job and generally had a part time job as well. While most healthcare facilities and individuals just want these nurses on a temporary care basis offering services that are general in nature, there are some that require some sort of specialized care from these nurses, which has led to some nursing agencies offering niches so as to be able to meet the requirements of some segments in the target market. Other threats and challenges that you are likely to face are; a downturn of the economy that will result to people having less to spend on their health insurance and therefore demanding less health care services; and also competition from already established nursing agencies. The industry is expected to experience more growth that will be sustained over the five years to 2021. If your nurses will be working in a hospital, there would be no need for them to go with any equipment except their basic equipment. I based this article on information from my setting up my own agency and from experience doing set up and developement of other Nursing Agencies......sometimes called Supplemental Staffing Agencies. Buying a franchise is a different ball game and once you are able to get a good one, it will be beneficial to your business. This means that the more health coverage individuals receive, the more there will be patients demanding medical attention. According to the American Nurses Association, the year 2021 will see demand rise higher than supply as there might possibly be a shortage of about 1 million nurses across cities and regions, with some regions and cities already experiencing this acute shortage as demand is far higher than the supply on ground. These professionals may also be required to supervise less-experienced nurses, handle administrative tasks and educate their patients on disease prevention and management. However, only 85% of them are employed in nursing, and a few thousand are about to retire. Therefore, some of the niche areas that you might need to look into when starting your nursing agency business are; The Level of Competition in the Nursing Agency Industry. The industry saw an increase in revenue from between the period of 2011 to 2016 and this is not expected to decline anytime soon. Things start off quite well at the agency. There were times I needed extra money for a special occasion or vacation we wanted to take. If recruitment was really as easy as non-recruiters believed … Is Professional Certification Needed to Run a Nursing Staffing Agency? This will in turn see revenue in the global health care sector grow to about $300 billion in 2021 from the $180 billion that it was in 2014, which is therefore an annual growth rate of more than 8 percent. Whether you open a nursing agency franchise, take ownership of an existing agency or start from scratch, there are ways to secure funding. I was wondering if … Another way to wait till you get paid in order to do your own payroll is to take Nurses as business partners and just share the profit.I don't really advise that.I tried it that way and found it did not work for me since I am such a humble creature I was unable to deal with the greed of my partners. If you are starting your own nursing agency business or want to just work for yourself, purchase our Nursing Agency Business Start up Package. Andra Picincu is a digital marketing consultant with over 10 years of experience. You must have a budget in place for leasing or renting a facility for your nursing agency business, therefore you might need to speak with a real estate agent who would know the best place for you to locate your nursing agency business and one that would be within your budget. Raise the investment capital to start a nursing agency with a business loan or from private investors. If this sounds like you, read on to find out how to start a home care agency… Some of the factors responsible for the growth are an increase in demand for health care services, a growing aging population, as well as a shortage of qualified healthcare personnel such as nurses. The first step you will need to take in starting your nursing agency business is to conduct a research to know the health and safety code regarding nursing agencies in the jurisdiction you intend to operate your nursing agency business from. Hello:) I am in the process of starting a staffing agency. Before starting a nursing agency, make sure you know what is … As an entrepreneur, you already know that any business should be registered with the state, have a tax ID number and comply with the law. As agency staff, there is no association with the hospital and therefore the challenge of being accepted by permanent staff. Using the right channels to publicize your nursing agency business is very important and most entrepreneurs in this sector usually engage the services of a branding consultant who has the required experience to help with publicizing and positively communicating the brand to its intended target market. Therefore, in choosing a location for your nursing agency business, it must be one that is located within your target market hub, one that is within your budget, visible and easily accessible. The Joint Commision: Health Care Staffing Services Certification, Bureau of Labor Statistics: Registered Nurses, Study.com: Nursing Duties, Responsibilities and Career Options, American Association of Colleges of Nursing: Commission on Collegiate Nursing Education (CCNE). If you choose the latter option, search for agencies that already have a customer base and a good reputation. By being an independent healthcare contractor, you are bypassing the agency and are self employed. Starting Your Nursing Agency Business from Scratch vs Buying a Franchise. Focus on building connections in the local health care community. Set up a website for your nursing agency and promote it online via sponsored ads targeted at a local audience. According to the Bureau of Labor Statistics, the employment of registered nurses is estimated to increase by a staggering 12% between 2018 and 2028 due to the rising rates of chronic illnesses and the growing number of baby boomers looking for quality medical services. Depending on your needs, you can reach out to private investors, get a small business loan or apply for grants from government agencies. Even though you do not need any professional certification in order to run a nursing agency business, your nurses will need to be certified in order to be able to offer their services wherever they might be demanded. Possible Threats and Challenges You Will Face When Starting a Nursing Agency Business. This will make healthcare agencies to compete for the available practitioners thereby making the competition of nurses to be acute. In starting your nursing agency business, there are a number of legal entities that are available for use and they are; sole proprietorship, partnership, corporation and Limited Liability Company (LLC). They not only have to balance their personal and professional lives but also adapt rapidly to new environments and new routines. Technology has found its way into this industry as older and outdated systems are being replaced by equipment that is more powerful and yet less intrusive. Do you plan to start from scratch or find a nurse staffing agency for sale and take ownership of it? The nursing agency business which helps to place nurses and certified nursing assistants in vacancies in institutions or with individuals in order to help improve the physical and functional well-being of others, is seen by IBISWorld as an industry that generates $16 billion annually. Even though the nursing agency business is one where brand popularity is more prominent for individual companies in certain regions than in others, there are still some brands that are well known across the regions where they operate from and this could be because of some factors such as; franchise systems, massive publicity strategies, highly reliable nurses in its employ and so many other distinguishing characteristics. if you are located in a remote place, you might not find those willing to drive far out to your agency; also, you might need to spend more to create awareness for your business. We also took it further by analyzing and drafting a sample nursing agency marketing plan backed up by actionable guerrilla marketing ideas for nursing agencies. The nurses must have been certified so that they are able to work with not only individuals but in clinics and hospitals which will therefore boost your reputation. Consider whether you will start your own nursing agency business or become part of a franchise. Cardiopulmonary Resuscitation (CPR) Certificate, Generating start-up capital from personal savings and sale of personal properties, Sourcing for soft loans from friends and family members, Applying for grants from local and state government agencies, Meeting private investors to seek for start-up capital, Formally introduce your nursing agency business to hospitals, clinics, religious, and charitable organizations as well as individuals by sending them a mail about your company, your services and your contact information, Ensure that your business is listed in yellow pages as well as in online directories, Ensure that you place adverts in newspapers (local and national) and health related magazines as well as on radio and television stations, Engage in directly marketing your nursing agency, Distribute handbills and fliers as well as business cards in certain strategic locations, Use the internet as well as social media platforms such as Facebook, Twitter, Linkedin, Google Plus and other such platforms to market your services, Ensure that you place adverts in newspapers, related magazines as well as on radio and television stations, Ensure that you place billboards and banners in strategic and conspicuous locations so as to raise awareness for your nursing agency, Distribute handbills and also paste fliers in certain strategic locations, Raise awareness about your nursing agency by creating and using platforms on social media such as Facebook, Twitter, Linkedin and Google Plus in order to raise awareness about your business, Create an interactive website and use this to promote your nursing agency business, Participate in charity programs in your local community in order to raise awareness for your nursing agency. What you may not know about are the business licenses, permits and accreditations you need at the local level since each state has different regulations. How to Start a Nursing Agency With No Money Learn About the Industry. If you are however confused as regards what policies to get, you might need to visit an insurance agent or broker that will help you determine how much you would need to budget and what insurance policies you would need to procure for your nursing agency business. NursingCAS: What’s the Deal With Accreditation? The industry is also facing challenges from classification and certification as there are many nurses who are not certified but only went through a non-standard training program created by the agencies recruiting them. The aging population as well as the aging workforce and nurse burnout all play a role. Therefore when you are creating your marketing plans and strategies, you will also need to create a powerful company profile that shows what you have achieved and what experiences you have accumulated. Starting a nursing agency requires a relatively small start-up sum, but you will need to have sufficient money in reserve to pay your nurses in case clients pay their invoices late. An agency nurse has the same responsibilities as a registered nurse working in a medical setting. The rapid recovery experienced is as a result of rising employment and an increase in the number of individuals with health insurance provided for by their employers which have made healthcare services to be more affordable. The nursing industry is changing at a fast pace. Even though you can operate your nursing agency business from home does not mean that you should because location has a very large influence on the success of your business. The accelerated retirement rates among registered nurses will further increase the demand for qualified RNs. The United States of America has a lot of senior citizens, in fact it has been estimated that by 2021, 17 percent of the population will be 65 or older and this therefore means about 84 million men and female will have their dependence on the healthcare industry increased. The main body regulating the operation of nursing agencies in the UK is the Care Quality Commission, and anyone thinking about starting up a nursing agency must visit its website. Decide also of which type of business entity you want to apply for your business for the purpose of tax liabilities. In her daily life, Ms. Picincu provides digital marketing consulting and copywriting services. It is therefore necessary for agencies to thoroughly engage in staff planning in order to be able to meet the growing demand from its clients. This has therefore led to confusion, especially for agencies that recruit these nurses to work in homes of individuals. From the above analysis, you will likely need a minimum of 20 people in order for you to run your nursing agency effectively and successfully. However, future estimates show that close to 1.3 million health care workers will enter the market leading to a job growth of 50 percent by 2018. Todd W. “The business start up package is well worth the money, and your service has been quick and very professional. Decide whether you will work from home or set up a physical office, who will be in charge of what and how you'll screen and interview candidates. It is already taken for granted that your nurses are certified and registered, this is because it will do your reputation a great harm to take in nurses who have not undergone any sort of verification. It is therefore important that you choose a name that is unique, represents the business you do and one that is also memorable as well. Every business that is established requires constant promotion in order to boost the awareness of its brand and also create a corporate identity to its target market and other stakeholders in the industry. The first thing you need to learn is to check with your local state authorities for the rules and regulations in handling a nursing agency plus the permits and licenses you need to acquire so you can legally run the business. The Service Delivery Process of a Nursing Agency Business. Below are some of the platforms you will need in order to market your nursing agency business; Strategies to Boost Your Nursing Staffing Agency Brand Awareness and Create Your Corporate Identity. Nurse Next Door, another popular franchise, involves an initial investment of $55,000, an $8,000 technology startup fee plus additional fees for branding, marketing, training, legal assistance, accreditation and more. Additionally, it shows that you are following the best industry practices. The increase in demand for services from the health care sector will put increased pressure on the nursing and other health care agencies to find qualified staff. New Edition and updated forms for 2006. Not being found with proper legal documentation will have you not only be penalized financially but you might be banned from running this kind of business or anything similar within the shores of the country. There are many things to complete before starting a new nursing recruitment business, but, getting insurance and permission from drug screening services are a must. Just as every nurse has their reasons for choosing agency work, it’s only logical that the qualities they seek in a nursing agency will differ too. The nursing agency is usually run by an administrator who keeps in contact with several clients – existing and potential and also has a schedule of nurses that are available and those out in the field so that when a demand comes up, work can easily be dispatched to those on ground. The challenges and threats that you are likely to face during the course of starting your own nursing agency are; changing trends in the industry as well as competition from new entrants into the business operating from same location. Understand the Industry If you rent or lease a facility in an area that is too far out, then you would need to engage in intense publicity so that more people can be aware off your business. Even if you have had too much money to qualify for Medicaid in the past, you may find that you are eligible for Medicaid nursing home care because the income limits are higher for this purpose. Technological innovation, medical advances and government regulations are shaping this industry. You might need to therefore engage the services of a marketing consultant who has the experience in your kind of industry to help in creating the right marketing strategies that would boost and help you grow your nursing agency business. Running Your Business Open up a small business account at your bank. A nursing agency is one that provides qualified nursing staff to private patients or health care institutions that require them. Desire to be your own boss. According to the American Nurses Association (ANA), by the year 2021 there will be a shortage of at least 1 million nurses in the health care industry. There is a growing shortage of healthcare professionals that are needed to ensure that this industry meets up with the rapid growth occurring in it. If you want to grow. If you are looking to start your own nursing agency business in the united states of America, reading through this article is bound to help you out. Clear Skies Capital, for instance, provides merchant cash advances, lines of credit and working capital loans of $5,000 to $2 million.