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It can be difficult to understand just how comprehensive the services of a medical staffing firm are until you actually research what the best firms have to offer. The concept of medical staffing has changed considerably over the years and the degree to which medical organizations rely on staffing firms is a good indicator of how much these firms have adapted to the needs of their industries. There are staffing firms that specialize in specific positions within the medical field, and then there are firms that offer a broad range of staffing services. In either case, the staffing firms with the best reputations are normally the ones that get the better accounts.
One of the reasons that medical staffing companies sometimes choose to specialize in the positions they fill is because of the significant needs within those industries. For example, a medical staffing firm that specializes in placing surgeons will spend a great deal of time and money finding a roster of professionals that are interested in looking for new opportunities. The educational and experience requirements of a surgeon versus a medical secretary are very different. It can take months to match up a hospital's need with the database of available surgeons that a placement firm has to work with. That is why some medical staffing firms prefer to specialize instead of generalize.
Hospitals Rely On Staffing Firms To Find Qualified Doctors And Nurses
If you read medical industry literature, one of the persistent themes is the lack of qualified doctors and nurses around the world. The solution that the medical providers have to work with is utilizing the professionals that are available and using staffing agencies to match up hospital needs with available medical professionals. Some doctors take on several hospitals in a given region as clients, while others decide to move to a new area and start a new practice to help a local community. Without the assistance of medical staffing firms, it would be extremely difficult for the hospitals and medical practices in need to find the professionals they are looking for.
The need for nurses is getting so strong that many medical organizations and even medical staffing companies are offering to help pay for nursing school to any qualified candidate that wishes to get into the field. Once again, this is a void that medical staffing companies are filling and helping hospitals and other medical facilities to meet the needs of their patients. There is an urgency for many medical facilities to solve their ongoing nurse shortages because it is starting to affect these facilities' ability to provide quality care. Medical staffing companies are stepping in and solving the problem for many areas by supplying the qualified nurses and nursing candidates necessary to fill these voids.
The List Of Professions Covered By Medical Staffing Companies Is Extensive
Recruiting costs for medical staffing organizations are extensive because of the comprehensive list of professions that many staffing firms cover. Along with doctors and nurses, medical staffing companies also help match up administrators, maintenance personnel, research experts, advanced testing equipment professionals and a long list of other jobs with the medical facilities that need them. The staffing companies that deal in a significant number of these professions will require a very strong cash flow just to sustain the recruiting and screening procedures needed to keep qualified personnel on staff.
One of the more significant ongoing costs for a medical staffing agency is payroll. As long as a medical professional is contracted with a staffing company, it is the responsibility of the staffing company to pay the professional's salary. As many people know, the salaries in the medical field tend to be higher than most other professions in the world. In order to consistently meet payroll requirements of a growing medical staffing organization, it is necessary to stabilize a staffing company's financial position and create a strong and reliable cash flow. But saying that a company needs a strong cash flow and taking the proper measures to create that cash flow are two very different actions.
High Medical Salaries Mean Big Cash Flow Issues For Medical Placement Firms
A medical staffing company that runs into cash flow issues is one that is having problems collecting on its invoiced sales. Medical organizations get a significant amount of their revenue from insurance companies and government agencies. Both of these entities are notorious for their slow payment habits and that trickles down to the vendors that a medical organization needs to use to provide care for its patients. Medical professionals on staff with a placement agency require big salaries that must get paid on a regular basis. When a staffing company has problems with its cash flow, then that can start a series of issues that could threaten that organization's future.
The key to success for any medical staffing company is its outstanding invoices. By themselves, outstanding invoices represent revenue that the medical staffing company must have, but would not normally get in a timely manner. But with invoice factoring services from 1st Commercial Credit, those outstanding invoices get turned into cash flow quickly and that allows the the staffing agency to meet its significant payroll requirements on a regular basis. It also creates cash flow that can be used to meet all of the other ongoing expenses that medical staffing companies have, which is always the way to get started on the pathway towards growth and success.
1st Commercial Credit Has The Flexible Factoring Programs You Need
1st Commercial Credit has spent years offering custom and flexible invoice factoring programs to medical staffing companies. Whether you are a specialty staffing company that deals in a select number of medical professions, or you are a general medical staffing company that takes on a large roster of personnel, we have the financial plans you need to stabilize your cash flow. We will use your outstanding invoices as assets that your company can build on. We will advance you the face value of your invoices minus our lending fee. If your invoices are past due, then we can set up an account for you in five business days or less that will allow us to advance funds from approved invoices in 24 hours.
1st Commercial Credit's programs do not require set-up or facilities fees. We also do not have hidden fees that we hit you with after your account has been set up. We disclose all of our fees up front and let you know exactly what you will be paying for our services.
Contact one of our financial experts or utilize our online application now. The sooner that you submit your completed application, the sooner we can get to advancing you the cash you need to make your medical staffing company a success. We have billions of dollars of resources and years of experience in helping medical staffing companies to meet their financial goals. Get started with your account now and see how much your medical staffing company can benefit from invoice factoring.