How to Start a Nursing Agency
Starting a nursing agency can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful nursing agency.
Importantly, a critical step in starting a nursing agency is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .
Download our Ultimate Business Plan Template here
14 Steps To Start a Nursing Agency :
- Choose the Name for Your Nursing Agency
- Develop Your Nursing Agency Business Plan
- Choose the Legal Structure for Your Nursing Agency
- Secure Startup Funding for Your Nursing Agency (If Needed)
- Secure a Location for Your Business
- Register Your Nursing Agency with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your Nursing Agency
- Buy or Lease the Right Nursing Agency Equipment
- Develop Your Nursing Agency Marketing Materials
- Purchase and Setup the Software Needed to Run Your Nursing Agency
- Open for Business
1. Choose the Name for Your Nursing Agency
The first step to starting a nursing agency is to choose your business’ name.
This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your nursing agency:
- Make sure the name is available . Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
- Keep it simple . The best names are usually ones that are easy to remember, pronounce and spell.
- Think about marketing . Come up with a name that reflects the desired brand and/or focus of your nursing agency.
2. Develop Your Nursing Agency Business Plan
One of the most important steps in starting a nurse staffing agency is to develop your business plan. The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.
Your business plan should include the following sections:
- Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your nursing agency.
- Company Overview – this section tells the reader about the history of your nursing agency and what type of nursing agency you operate. For example, are you a staffing agency, home health care agency, hospice agency, or a travel nursing agency?
- Industry Analysis – here you will document key information about the health care industry. Conduct market research and document how big the industry is and what trends are affecting it.
- Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing services like the ones you will offer?
- Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
- Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
- Product : Determine and document what products/services you will offer
- Prices : Document the prices of your products/services
- Place : Where will your business be located and how will that location help you increase sales?
- Promotions : What promotional methods will you use to attract customers to your nursing agency? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
- Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
- Management Team – this section details the background of your company’s management team.
- Financial Plan – finally, the financial plan answers questions including the following:
- What startup costs will you incur?
- How will your nursing agency make money?
- What are your projected sales and expenses for the next five years?
- Do you need to raise funding to launch your business?
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3. choose the legal structure for your nursing agency.
Next you need to choose a legal structure for your nursing agency and register it and your business name with the Secretary of State in each state where you operate your business.
Below are the five most common legal structures:
1) Sole proprietorship
A sole proprietorship is a business entity in which the owner of the nursing agency and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.
2) Partnerships
A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a nursing agency together. The partners share in the profits and losses of the business.
The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.
3) Limited Liability Company (LLC)
A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a nursing agency include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.
4) C Corporation
A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a nursing agency is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.
5) S Corporation
An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.
Once you register your nursing agency, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.
4. Secure Startup Funding for Your Nursing Agency (If Needed)
In developing your nursing agency business plan, you might have determined that you need to raise funding to launch your business.
If so, the main sources of funding for a nursing agency to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a nursing staffing agency that they believe has high potential for growth.
5. Secure a Location for Your Business
There are a few key things to consider when looking for a location for your nursing agency. First, you’ll need an area that is accessible and has a good transportation network. You’ll also want to make sure the area has a strong healthcare sector, as this will be a key market for your nursing agency. Finally, the area must be economically good with healthcare facilities, as this will ensure you have a strong customer base.
6. Register Your Nursing Agency with the IRS
Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).
Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire qualified staff, you will need an EIN since that is how the IRS tracks your payroll tax payments.
Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.
7. Open a Business Bank Account
It is important to establish a bank account in your nursing agency’s name. This process is fairly simple and involves the following steps:
- Identify and contact the bank you want to use
- Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
- Complete the bank’s application form and provide all relevant information
- Meet with a banker to discuss your business needs and establish a relationship with them
8. Get a Business Credit Card
You should get a business credit card for your nursing agency to help you separate personal and business expenses.
You can either apply for a business credit card through your bank or apply for one through a credit card company.
When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.
Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.
9. Get the Required Business Licenses and Permits
To start a nursing agency, you will need to obtain a business license and a nursing agency permit. You will also need to register with the state nursing board and comply with its regulations. You may need additional permits, depending on your state and local regulations.
10. Get Business Insurance for Your Nursing Agency
The type of insurance you need to operate a nursing agency depends on the services you offer.
Some business insurance policies you should consider for your nursing agency include:
- General liability insurance : This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
- Workers’ compensation insurance : If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
- Commercial property insurance : This covers damage to your property caused by fire, theft, or vandalism.
- Business interruption insurance : This covers lost income and expenses if your business is forced to close due to a covered event.
- Professional liability insurance : This protects your business against claims of professional negligence.
Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs.
11. Buy or Lease the Right Nursing Agency Equipment
To start a nursing agency, you will need some basic equipment. This includes a computer, phone, and fax machine. You will also need medical supplies and a space to store them.
12. Develop Your Nursing Agency Marketing Materials
Marketing materials will be required to attract and retain customers to your nursing agency.
The key marketing materials you will need are as follows:
- Logo : Spend some time developing a good logo for your nursing agency. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
- Website : Likewise, a professional nursing agency website provides potential clients with information about the services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
- Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your nursing agency.
13. Purchase and Setup the Software Needed to Run Your Nursing Agency
The software needed to run a nursing business is typically a customer relationship management (CRM) system and a medical billing system. Other software that may be useful include an electronic health record system, inventory management system, and a payroll system.
14. Open for Business
You are now ready to open your nursing agency. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.
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How to Start a Nursing Agency FAQs
Is it hard to start a nursing agency.
No, it is not too hard to start a nursing agency provided you are familiar with the industry and have the required licenses and permits. You also need to make sure that you have a good business plan and marketing strategy.
How can I start a nursing agency with no experience?
There are many ways to launch a nursing agency with no experience. One way is to research the industry and learn about the different aspects of running a nursing agency. You can also reach out to others who have started their own health care agencies for advice and support. Additionally, you can seek out training or webinars by health care institutions or local healthcare facilities . Finally, be sure to have a solid business plan in place to help you navigate the early stages of your nursing agency. With careful planning and execution, you can start a successful nursing agency with no experience.
What type of nursing agency is most profitable?
There are many types of nursing agencies, but the most profitable type is the home health nursing agency. Home health staffing agencies provide agency nurses and certified nursing assistants to visit patients in their homes, which allows for more personalized care. They also charge higher rates than other nursing agencies, making them a more lucrative business venture.
How much does it cost to start a nursing agency?
A nursing agency startup costs anywhere from $2,000 to $25,000. This includes the costs of setting up a business, licensing and insurance fees, and purchasing medical supplies.
What are the ongoing expenses for a nursing agency?
There are a few ongoing expenses for a nursing agency. One of the main expenses is the cost of hiring registered nurses. A nursing agency also needs to pay for office space, equipment, and other supplies. Finally, there are marketing expenses to promote its services.
How does a nursing agency make money?
Nursing agencies make money by charging a fee for their patient care services. This fee can be a set amount, or it can be a percentage of the nurse's salary.
Is owning a nursing agency profitable?
Yes, owning a nursing agency can be profitable because demand for licensed practical nurses is high in both the private and public sector, so there is room for agencies to specialize in either area. Nursing agencies can also charge their clients a markup on the nursing professionals ' hourly wage, making them a profitable business.
Why do nursing agencies fail?
There are a number of reasons nursing agencies fail. One main reason is because they do not have a solid business plan that outlines their goals and strategies. Nursing agencies also may fail because they do not have the financial resources to sustain their operations. Additionally, poor management and a lack of marketing can also lead to the failure of a nursing agency.
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Nursing Agency Start Up Steps
Are you interested in starting a nursing agency business.
Life expectancy has increased dramatically over the last few years. As a result, people living to 100 years of age are now one of the fastest growing segments, which has spiked growth in the home health care business industry. As the number of elderly people increases, so does the need for home health care for seniors. A nursing agency business is a promising business with unlimited potential. If you are interested in a comprehensive guide on how to start a nursing agency business please see our Nursing Agency Business Start up Package
Here are some simple steps to consider on how to start a successful nursing agency business.
2. Start your nursing agency business in an area with a growing population of seniors. Check census profiles of different cities for the elderly population, ages 65 and over. Target large cities or cities with large retirement communities.
3. Requirements vary from state to state, so be sure you check with your local government for proper state licensing and certification required to legally start and operate a nursing agency business in your state. Research the license requirements in your city and state for nursing agencies. Health regulations may include providing documentation about your workers’ eligibility and certifications.
4. Determine the type and amount of insurance you will need for your nursing agency business. At the very least you will need liability insurance, for performing home care services in other people’s homes. Your city or state may also require a minimum amount of liability insurance. More detailed information is available in our Nursing Agency Business Start up Package .
5. Hire part-time, or contracted workers when starting your nursing agency business to maintain costs. Be aware that for a nursing services, you will need to hire nurses and nurses’ aides. Ask potential candidates about their experiences with the senior population, most of whom require care unique to their age. Perform all necessary criminal and background investigations for each employee that is hired for your nursing agency business. More detailed information is available in our Nursing Agency Business Start up Package .
6. Accept private medical insurance by making sure your nursing agency business meets individual insurer requirements. You can get this information by contacting them directly and obtaining a list of those requirements.
7. Obtain the additional nursing agency license and certification needed to accept Medicare and Medicaid clients. To do this, apply through the State Medicare agency. A state representative will inspect your agency to make sure it meets all of the required health and safety standards. You are required to have at least seven clients and three months of operating funds and steady revenue after you start your nursing agency business. More detailed information is available in our Nursing Agency Business Start up Package .
8. Set up a billing system for your nursing agency patients and for insurance companies. Decide which insurance companies you will accept. You will have to work with Medicare, for the senior population. Secure the software necessary to do the billing and to communicate electronically with Medicare and supplemental insurance companies. More detailed information is available in our Nursing Agency Business Start up Package .
- Packages & Pricing
Nursing Agency Business Plan
As generations age, the need for nursing agency services increases. Starting a nursing agency business seems to be one of the biggest trends by helping fill the current nurse shortage. The business plan will provide a complete guide of the business with financial, operational and marketing strategies, as well as all the forms, and training material that will help and guide you along your journey by saving you time in starting and operating a successful nursing agency.
Business Model
This section of the plan will explain in detail how the nursing agency works and how it gets its clients. A nursing agency is an organization that offers nurses and certified health care assistants to individuals who need the services of a professional. Nurses are recruited by the agency on temporary contracts and make themselves available to be hired by hospitals, clinics and other health care providers to help during busy periods or to cover for staff absences.
Business Summary
Market positioning.
The business plan describes in this item how to position your nursing agency in the marketplace by showing experts’ recommendations and research reports. If you are an entrepreneur with a good agency representing reliable nurses, willing to work where the demand exists, taking this business plan is an opportunity to increase the reach of your agency by position it properly within your target market.
Operations Plan
This section of the nursing agency business plan describes the steps to operate the business in a proper way, including the recruitment of experienced nurses and building a client base. It also involves establishing a proper compensation structure for the staff and supervision and oversight procedures to make sure the services are carried on effectively.
Marketing Plan
The marketing plan focuses on making the business grow and become well known within its market by using several strategies in order to promote the nursing agency business to attract more clients and recruit highly experienced professionals.
Market Segmentation
This section describes the target customers of your nursing agency business by explaining their main needs and preferences. Properly segmenting the business will ensure you have a higher probability of success by targeting unattended niches of the market.
Promotional Strategies
The business plan offers several tactics to promote your nursing agency. For instance, advertising in recognized medical magazines, recruitment campaigns to hire skilled nurses and participation in local health-care related events. Developing your web presence through a website and social media is also a great way to promote this kind of businesses.
Financial Projections
The financial section of the nursing agency business plan describes the financial aspects of the business such as the expense’s budget, cash-flow statements and income projections for the agency. It also identifies the main revenue sources of the business and the strategies to make the company profitable and sustainable.
Revenue Assumptions
The main sources of revenues will come from the services offered by the nursing agency such as skilled nursing home services, nursing aide, personal assistance and many others. The business plan also outlines other revenue increase opportunities such as expanding the range of services to serve different types of health-care organizations.
Projecting Expenses
In this section of the nursing agency business plan there is a detailed description of the major expenses you need to consider and watch carefully and also the strategies to keep them in line in order to maintain your profit margins at an acceptable level. These expenses include compensation for recruited nurses, training costs, rent and client acquisition expenses.
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- The 7 Step Business Plan for a Medical Staffing Agency
By Timerack
- Uncategorized
April 22, 2021
A strong business plan can make or break a new startup. Therefore, if you’re looking to open a healthcare staffing agency, a solid business plan should be your first port of call.
Not only does it provide a clear road map for getting your business up and running, it’s also the first step in applying for a business loan. Furthermore, with so much to handle from financing to legal protection, the act of writing it all down with actionable steps can take a huge load off your mind and make that mountain ahead seem a lot easier to climb
To help you in your journey, we’ve outlined below in seven easy steps how you can create a business plan for a medical staffing agency.
1. Outline Your Business Goals and Purpose
Start by writing out in clear terms what your business goals are for starting a healthcare staffing agency.
It should be concise and easy to understand. Furthemore, If you’re going to be applying for a business loan, this is your chance to lay out why you’ll need the funds and what your growth targets are.
2. Decide on the Type of Business You’ll Be Running
Every staffing agency must decide on the type of ownership structure it will operate under. You have a few options, and each have their own pros and cons. Take some time to decide which one might work best for you depending on your personal and business goals.
- Sole Proprietorship – This is where one person owns the entire business under their own name. Any debts or liabilities that the business takes on are the sole personal responsibility of the owner.
- Joint Partnership – When two or more people open a business together, they enter into a partnership. Depending on the arrangement, each owner may hold an equal or different share in the business. All debts and liabilities are still considered personal.
- A Limited Liability Company – An LLC comes with significant tax benefits and can be opened under sole proprietorship or joint partnership. Another benefit to this arrangement is that it offers the legal protection of being a corporation.
- A Corporation – Functions much the same as an LLC, with the important difference that it is owned by its shareholders, whereas an LLC is owned by one or more individuals.
Whatever type of business you decide on, keeping track of employee time and attendance will make your life a whole lot easier. Learn more about our staffing agency software here .
3. Ensure Liability Protection
As a nurse staffing agency, you’re in a rather unique position regarding legal protection. Your staff will be working in several different locations, some safer than others and you need to ensure that both they and you have proper protection.
Outline the type of liability insurance you’ll need and how it will protect your company from any damages caused. Since you’re operating in the medical industry, it’s advisable that you go with premium liability insurance.
You’ll also need proper worker’s compensation in case one of your employees suffers an injury on the job. Your insurance program should cover both medical costs and rehabilitation. As an added bonus, it may also be worth getting short or long-term disability insurance on top of the base package.
4. Investigate Funding Options
Whatever agency you operate within, when you first get started, you’ll likely be operating out of a spare room.
Furthermore, for the first few months, as you try to hire staff and find clients, your business will probably be in the red, financially speaking.
This is perfectly normal. That being said, eventually you’re going to have to find extra funding before your business can really take off. Employees will have to be paid before you even have clients and you’ll have advertising, recruiting, and operating costs to cover.
To get yourself through these first early months, outline a plan for how you will fund your business venture. Some of it can come from your own personal savings, but in all likelihood, you’re going to need a business loan to cover the rest. Research what loan options are available and what the requirements are to be approved.
5. Make Revenue Projections
Key to the success of any business venture is an accurate revenue projection. This will be crucial when it comes time to apply for a business loan, so lay out your expected earnings for each month and yearly quarter for the first 2-3 years. It should be properly cited with market reports and financial statements to back up your projections. Be aggressive in your goals, but also realistic. Your loan officer will want to see clear evidence that you can cover your monthly loan payments and any other debts or liabilities you may have taken on.
This is also a good time to think about how you can achieve critical mass, the point at which you have enough staff and clients that your business becomes self-sustaining. When you first get started, you’ll be operating on a shoestring budget and largely dependent on whatever funding you could get.
Try to get a clear sense of how much you’ll need to grow before you can compete in the medical market effectively and remain competitive. Your point of critical mass will be an ever-changing target, so be aware that you’ll need to revise it over time. The revenue projections you make will have a direct impact on the balance between your medical staffing agency’s bill rate vs pay rate .
Revenue projections and medical staffing analysis is made easier by using our staffing agency software . Learn more here.
6. Develop a Marketing Plan
This is where you will lay out your marketing plans and how you intend to achieve them. You’ll need to outline two marketing plans, one for attracting medical employees and another for clients.
For your medical employees, brainstorm a bunch of ideas for how you can draw talent. For instance, reach out to local schools that specialize in nursing and medical care. You could even try teaming up with a local faculty to encourage new graduates to join your agency. Other methods for finding staff include reaching out on social media or asking medical staff you already have on the books to reach out through their connections and pitch job offers.
As for clients, draw up a list of all the nearby hospitals, health clinics, and anywhere else that needs medical staff. These will be the targets for your marketing campaign, and you should have a clear idea for how you can attract their business.
If you have a unique selling proposition (USP), this is your chance to showcase it and explain how you will compete with other staffing agencies. You should also research any educational events in your area. Medical personnel are always in need of continuing education credits to maintain their professional licenses, and these events can be a great place to find both new recruits and new business clients.
7. Bring It All Together
Type out everything in a single document with each area categorized and properly indexed. It should be easy to present to lenders and provide a clear blueprint for how your business will operate and grow in the future. A basic business plan should include the following:
- An executive summary
- Company ownership structure and financing
- Market analysis and business plan
- Pricing model and marketing plan
- An appendix section listing supporting information
Bottom Line
There you have it! While there is no blueprint for how to open a healthcare staffing agency, if you follow these 7 steps your chance of success will drastically increase.
Once you’re up and running, make sure you finalize your temp agency markup rates to ensure you’re profitable but don’t price yourself out of the market.
Furthermore, to offer unique value and attract the best medical professionals, invest in staffing agency software in order to streamline your time and attendance, payroll and HR.
Want to learn more about how Timerack can benefit your medical staffing agency? Book a personalized demo here .
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Medical Staffing Agency Business Plan and SWOT Analysis
Medical Staffing Agency Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Medical Staffing Agency Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Medical Staffing Agency business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
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- Meets SBA Requirements
Medical staffing agencies operate in a unique capacity in that they are able to generate a significant amount of income by the placing medical professionals and related staff with homes and medically focus businesses. Given that these companies operate in a healthcare capacity, these companies are wholly immune from negative changes in the economy. In fact, the revenues of medical staffing agencies has increased significantly over the past 10 years as hospitals and practices have shifted their business model towards using independently contracted physicians, nurses, nurse practitioners, and physicians assistants rather than hiring them directly. The industry has experienced 10% annual growth in each of the last five years. Startup costs are associated with a medical staffing agency are considered to be moderate. Typically, these businesses can be started for as little as $100,000 all the way up to about $250,000 depending on whether or not the medical staffing agency is going to directly pay out payroll to contractors prior to when invoices are being paid. This is one of the biggest challenges as relates to operating a medical staffing agency is the management of cash flow given that medical professionals are very well paid and these firms must wait on the receipt of an invoice before they get paid for placing a doctor or nurse with a practice or hospital. The demand for these services is expected to increase significantly over the next two decades as more people enter the baby boomer years and require a greater degree of medical care. One of the things that should be discussed off the bat and is that a medical staffing agency should have a qualified attorney on retainer in order to make sure that the business is complying with all employment laws at all times. These laws are highly complex and they are frequently changing given the constantly changing landscape of healthcare. As such, a medical staffing agency does need to allocate a significant portion of their operating expenses towards professional fees and licensure especially as it relates to receiving competent legal advice.
Almost all private investors and financial institutions are willing to provide a significant amount of capital support for the development of a new medical staffing agency. This is due to the fact that these businesses are able to generate their revenues in any economic climate. Usually, most entrepreneurs looking to get into the medical staffing agency industry will seek to acquire a working capital line of credit in order to finance the ongoing contractor expenses that are associated with this type of business. Provided that the businesses specializing in providing physician, nurse practitioner, nursing, or physician assistant labor then it these businesses are an excellent candidate for this type of financing. Usually, a entrepreneur is going to be required to make a 10% to 20% capital infusion in order to start this type of business. It is important that the entrepreneur also have a significant amount of experience in the medical staffing agency or employment agency industry. Of course, a medical staffing agency business plan is going to be required. This business plan should include a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page that features industry-standard statistics that are on par with that of third-party employment agencies. Beyond the anticipated financial results over a three-year period, a medical staffing agency business plan should offer also focus significantly on the number of hospitals and medical practices within any given market. Given that many people do not stay in the same place for their for their lives, it is important for these businesses to have an understanding of the number of medical professionals that live within any given market, or employment status, and the number of positions that are open at any given time. Given the revolving door nature of employment these days this is something that needs to have special attention paid to at all times.
A medical staffing agency marketing plan should focus significantly on developing ongoing relationships with recruiters and human resources departments within major hospitals, hospital systems, and large-scale group practices. This is the type of business that does not need to market its services to the general public so any type of print or general marketing campaign can be to a minimum. Of course, if a medical staffing agency is going to be providing nurses for in-home care and a modest amount of localized marketing should be carried out. This includes maintaining a website that showcases the business, the types of medical professionals employed by the company, per hour pricing information, and contact information. Presence on social media is not needed for a medical staffing agency unless, again, there are going to be home health aides being placed directly with individual patients or families.
A medical staffing agency SWOT analysis should be produced as well. As it relates to strengths, these businesses are always able to remain profitable and they will have access to capital on an ongoing basis given the economically secure nature of their operations. The barriers to entry are considered to be moderately high once a business is established within any given market. For weaknesses, these businesses have a very high operating costs given that they must front the expenditures relating to providing services to a hospital or medical practice. As such, a large amount of capital needs to be held on hand at any given time in order to properly carry out the services. For opportunities, this is pretty simple given that most medical staffing agencies can aggressively expand their operations by developing satellite offices within any given regional market. Again, there is going to be ongoing and continued demand for these types of services over the next two decades and the opportunities for aggressive expansion are significant. Beyond establishing additional locations and offices, a medical staffing agency can specialize in providing medical professionals that have highly unique specialties. This includes placing surgeons, orthopedists, specialized nurse practitioners, and specialized physicians assistants with large hospital systems. For threats, this is going to be one of the most challenging aspects of developing the business plan and marketing plan specific for a medical staffing agency. There are ongoing changes to the regulations regarding healthcare reimbursement – via both private insurance and publicly funded health systems – that must be addressed on a daily basis. There are highly political aspects to the United States economy and have such an entrepreneur that is looking to enter this field to have a complete understanding of how a potential reduction in publicly funded system reimbursements would impact the way that revenues from medical labor occurs. This is a risk that is being faced by all medical businesses and medical staffing agencies are no different.
In closing, a medical staffing agency can be a wonderful and highly profitable business investment provided that the owner has the appropriate understanding of the industry and the context necessary to develop placement for medical professionals at the onset of operations.
Medical Staffing Agency Business Plan
1.0 Executive Summary
The purpose of this business plan is to raise $100,000 for the development of a medical staffing agency while showcasing the expected financials and operations over the next three years. The Medical Staffing Agency, Inc. (“the Company”) is a New York based corporation that will provide outsourced HR management and employment solutions for clinics, hospitals, and related medical facilities in its targeted market. The Company was founded by John Doe.
1.1 The Operations
The Medical Staffing Agency intends to become a regional provider of temporary and permanent employment solutions for nurses/doctors/medical technicians that work in clinics, hospitals, assisted living facilities, and outpatient centers. The Company will also have the ability to easily source other medical professional such as physical therapists, speech pathologists, X-ray technicians, imaging equipment specialists, and other allied health professionals.
There are a number of other related medical staffing services that are in strong demand among the Company’s potential clients. Once the Medical Staffing Agency establishes is initial revenue streams, the business could easily expand into other aspects of the local medical industry.
The third section of the business plan will further describe the services offered by the Medical Staffing Agency.
1.2 The Financing
Mr. Doe is seeking to raise $100,000 from as a bank loan. The interest rate and loan agreement are to be further discussed during negotiation. This business plan assumes that the business will receive a 10 year loan with a 5% fixed interest rate. The financing will be used for the following:
- Development of the Company’s office location.
- Financing for the first six months of operation.
- Capital to develop ongoing relationships with hospitals, clinics, and medical facilities.
Mr. Doe will contribute $10,000 to the venture.
1.3 Mission Statement
The Medical Staffing Agency’s mission is to become the recognized leader in its targeted market for outsourced employment solutions for medical services businesses.
1.4 Management Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the medical employment and staffing industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1 . 5 Revenue Forecasts
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Mr. Doe intends to implement marketing campaigns that will effectively target hospitals, clinics, and other healthcare facilities within the target market.
2.0 The Financing
2.1 Registered Name and Corporate Structure
Medical Staffing Agency, Inc. The Company is registered as a corporation in the State of New York.
2.2 Use of Funds
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of the Medical Staffing Agency, Inc.
2.5 Exit Strategy
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Medical Staffing Agency. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
3.0 Operations
As discussed in the executive summary, Medical Staffing Agency, Inc. will become a regional provider of permanent and temporary employment positions for nurses, doctors, and associated medical staff. Below is a brief overview of the services provided by the business.
The primary focus of the Company’s services is the nursing segment of the market. The Medical Staffing Agency will be able to provide its clients with both traditional registered nurses as well as several nurses that have obtained specialties such as their nurse practitioners license or specific training in fields such as neonatal care, surgery, emergency medicine, psychiatric care, and other medical specialties. The Company will generates substantial gross margins from these services.
The Medical Staffing Agency will also be able to provide clients with other health professionals such as:
- Physicians (internists and specialties)
- Physical Therapists
- X-Ray and Imaging Equipment Technicians
- Speech Therapists
- Pharmacists and Pharmacy Technicians
- Healthcare Administrative Staff
4.0 Market and Strategic Analysis
4.1 Economic Analysis
This section of the analysis will detail the economic climate, the medical staffing industry, the customer profile, and the competition that the business will face as it progresses through its business operations.
Currently, the economic condition as a result of the COVID-19 pandemic is rapidly improving. Interest rates have remained low, which has led to substantial improvement in the economy. Although there are issues with inflation, the US Federal Reserve has indicated that they are willing to adjust monetary policy to combat this issue. The economy is moving back towards normal at this time.
However, medical staffing companies operate with great economic immunity as there is currently a shortage of labor in the medical industry. Additionally, people will continue to get sick and require medical attention despite deleterious economic conditions, and the business will be able to remain profitable in any economic climate.
4.2 Industry Analysis
As a whole, medical staffing agencies in the United States generate about $20 billion dollars with of revenue on a yearly basis. Approximately 1/3 of the industry is specifically geared toward the healthcare segment of the market.
The industry generates $15 billion a year of payrolls, and employs almost 350,000 people. The industry is expected to grow tremendously over the next two decades as more people (especially baby boomers) require medical services.
This is a mature industry, and the future growth rate will mirror that of the economy as a whole. As discussed above, over the next ten years – the growth rate of the industry will accelerate given the greater demand for healthcare among senior citizens. The Company will continue to recruit qualified medical personnel to accommodate these needs.
4.3 Customer Profile
The Medical Staffing Agency intends to target physician practices (group and solo), hospitals, and assisted living families with the intent to develop ongoing employment contracts. Among these facilities, Management has outlined several demographics that it will use when formulating and executing its marketing strategies:
- Annual revenues exceeding $1,000,000 per year
- Has continued needs for qualified nurses, technicians, and associate physicians
- Operates as a general hospital or specialty practice
- Operates within 50 miles of the Company’s office
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.
5.0 Marketing Plan
The Medical Staffing Agency intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Medical Staffing Agency.
5 .1 Marketing Objectives
- Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
- Establish relationships with hospitals, assisted living facilities, out patient surgical centers, physicians’ practices, and other medical facilities.
- Develop referrals with allied health professional practices.
- Aggressively use social media networks in order to recruit qualified professionals.
5.2 Marketing Strategies
The Company intends to develop a referral network from doctors, surgeons, hospitals, and post operative clinics within the target market. Since the Company is marketing directly to medical professionals and establishments, the costs associated with advertising are minimal.
The Company will also use traditional forms of marketing that are targeted towards medical professionals in the target market community. Management intends to market directly within locally based medical journals for the medical profession.
In regards to larger clients, like hospitals and outpatient facilities, the Medical Staffing Agency will directly contact these businesses to establish ongoing business relationships. Registered nurse, technician, and physician outsourcing is the most profitable aspect of this business, and the Company. should rapidly establish these relationships so that the business can immediately generate revenue from these sources.
Finally, the Medical Staffing Agency will develop its own website that will feature information about the business, contact information, and preliminary pricing schedules for temporary and permanent medical staffing solutions that the Company offers. The Company will also use targeted advertisements among major social media platforms such as LinkedIn and Facebook. A major focus of these operations will be for recruiting nurses as they are in immense demand at this time among medical staffing companies.
6.0 Organizational Overview
6.1 Organizational Chart
6.2 Personnel Budget
7.0 Financial Plan
7.1 Underlying Assumptions
The Company has based its proforma financial statements on the following:
- The Medical Staffing Agency will have an annual revenue growth rate of 16% per year.
- The Owner will acquire $100,000 of debt funds to develop the business.
- The loan will have a 10 year term with a 9% interest rate.
7.2 Sensitivity Analysis
The Company’s revenues are not sensitive to changes in the economy. The demand for nurses and associated medical professionals has continued to rise, and will continue to do so regardless of the state of the economy. Medical businesses are fully insulated from changes in the general economy as people will continue to require medical care. As such, there is very little risk that the Company will have any issues with generation.
7.3 Source of Funds
7.4 Profit and Loss Statement
7.5 Cash Flow Analysis
7.6 Balance Sheet
7.7 Breakeven Analysis
7.8 Business Ratios
Staffing Agency Business Plan Template
Business Plan Outline
Staffing Agency Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
Start Your Staffing Agency Plan Here
You’ve come to the right place to create your staffing agency business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their staffing agencies.
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Staffing Agency Business Plan FAQs
What is a staffing agency business plan.
A staffing agency business plan is a plan to start and/or grow your staffing agency business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your staffing agency business plan using our Staffing Agency Business Plan Template here .
What Are the Main Types of Staffing Agency Companies?
There are many types of staffing agency companies. Some staffing agencies will focus on a particular industry, such as clerical jobs. Other staffing agencies focus on executive job placement, while others will offer a wide range of services across all industries. Some even offer human resource functions, such as payroll, benefits administration and risk management.
What Are the Main Sources of Revenue and Expenses for a Staffing Agency Business?
The primary source of revenue for staffing agencies are the fees it charges clients to place them in a job and the revenue it receives from businesses that hire them to find and recruit suitable staff for their business.
The key expenses for a staffing agency business are the costs to market the business, as well as payroll for the support staff. Other expenses will be the rent, utilities, and overhead costs for the physical office space.
How Do You Get Funding for Your Staffing Agency Business Plan?
Staffing agency businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources.
What are the Steps To Start a Staffing Agency Business?
Starting a staffing agency business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Staffing Agency Business Plan - The first step in starting a business is to create a detailed staffing agency business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your staffing agency business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your staffing agency business is in compliance with local laws.
3. Register Your Staffing Agency Business - Once you have chosen a legal structure, the next step is to register your staffing agency business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your staffing agency business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Staffing Agency Equipment & Supplies - In order to start your staffing agency business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your staffing agency business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful staffing agency business:
- How to Start a Staffing Agency Business
- How to Open a Staffing Agency Business
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Healthcare business plan
Create a business plan for a medical office or any healthcare start-up using this detailed business plan template. This healthcare business plan template includes an executive summary, company overview, market analysis, financial plan, and more. This accessible healthcare business plan template includes step-by-step instructions.
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Home » Business ideas » Healthcare & Medical » Home Healthcare for Seniors
How to Write a Home Healthcare Agency Business Plan [Sample Template]
Are you about starting a home healthcare agency ? If YES, here is a complete sample home healthcare agency business plan template & feasibility report you can use for FREE . Starting a home healthcare business is one of those businesses that require you to first look at the existing laws in the country or State you reside, before going all out to start the business. This is so because there is hardly any country that does not pay serious attention on their health sector.
The health industry is usually highly regulated so as to guide against the infiltration of quacks. If you have interest in starting your own home healthcare business, then you would need to pay a visit to the health and medical regulatory body in your country ( the department of health care services ) to get all the needed information that is required before you can legally start your own home healthcare business in your city. Here is a sample home healthcare business that is capable of leading you all the way.
A Sample Home Healthcare Agency Business Plan Template
Table of Content
1. Industry Overview
3. our products and services, 4. our mission and vision statement, 5. job roles and responsibilities, 6. swot analysis, 8. our target market, our competitive advantage, 9. sales and marketing strategy, 10. sales forecast, 11. publicity and advertising strategy, 12. our pricing strategy, detailed cost analysis for starting a home health care service business, 14. sustainability and expansion strategy.
No doubt, the healthcare cum medical industry is perhaps one of the fastest growing and largest industries in the world; this is so because the wealth of any nation depends on the health of the nation. Obviously there is hardly any country where the health care industry is not handled with all seriousness. As a matter of fact, the healthcare industry is known to gulp well over 10 percent of gross domestic product (GDP) of most developed countries.
Basically, a healthcare provider is a health professional such as nurse or doctor et al or an establishment such as a hospital or a medical clinic or a healthcare center / facility that provides preventive, curative, promotional, rehabilitative or palliative healthcare / medical services in a systematic way to individuals, families or communities.
While home healthcare services typically refers to a nursing visit or physician visit to a sick person at home for the purpose of assisting them with daily living cum therapy as regards their health or to provide treatment as required. These services are provided by certified home health care agencies.
There is indeed a very large market for home healthcare service providers in the united states and of course in most parts of the world.
For instance, the World Health Organization (W.H.O) estimated that there are about 9.2 million physicians, 19.4 million nurses and midwives, 1.9 million dentists and other dentistry personnel, 2.6 million pharmacists and other pharmaceutical personnel, and over 1.3 million community health workers worldwide. This goes to show that the health care industry is indeed one of the largest segments of the workforce.
Statistics has it that in 2011, healthcare costs paid to hospitals, physicians, nursing homes, diagnostic laboratories, pharmacies, medical device manufacturers and other players in the health care system business value chain, consumed an estimated value of 17.9 percent of the Gross Domestic Product (GDP) of the United States.
This indeed is the largest of any country in the world. As a matter of fact, experts projected that the healthcare share of the GDP of the United States will continue to grow, reaching 19.6 percent of GDP by 2016.
Those who need the services of home healthcare services providers (nurse’s aides, personal assistance services, mental health counselors, chiropractors, home care agencies, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers or home caregivers) are not restricted to the old and the elderly but also young adults and all those who can afford the services.
Generally, patients usually prefer that their physician or nurse or healthcare giver take care of them in the comfort of their homes when they can afford it especially in cases such a psychiatric cases, spine case and permanent or temporary disability et al.
Over and above, the delivery of healthcare services at all level of the business value chain of the healthcare sector is the most visible part of any country’s healthcare system. When it comes to paying home healthcare service providers, the model that is adopted by the health sector usually hold sway.
For instance, in the United States of America, healthcare service providers are either paid directly by the patient or the insurance company that covers the patient takes responsibility of the payment.
2. Executive Summary
Health Is Wealth™ Home Healthcare Services is a standard and certified healthcare service provider that will be located in will be based in Miami Beach, Florida –United States of America and we will cover other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.
We chose to operate in these cities because we know that our services will be in high demand due to the growing numbers of the aging population in these areas. Health Is Wealth™ Home Healthcare Services offer health care services such as preventive, curative, promotional, rehabilitative or palliative healthcare / medical services in a systematic way to individuals, families or communities.
We are well trained and equipped to service the market segments that require only home-based services. We are in the home healthcare services business to deliver excellent healthcare services to all those who will patronize our services.
We will also ensure that in the line of carrying out our duty, we comply with the laws and health regulations in Florida and The United States of America. Our employees are well trained and qualified to handle the wide range of home health care services.
Health Is Wealth™ Home Healthcare Services will operate a 24 hours 7 days a week healthcare service; our office facility will be opened round the clock to attend to clients. We have a standard medical call center that is manned by trained health workers.
Our work force is going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our customers. Health Is Wealth™ Home Healthcare Services will ensure that all our patients cum customers are given first class treatment whenever they visit our store.
We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base grows. Health Is Wealth™ Home Healthcare Services is a family business that is owned and managed by Dr. Marvin Clarkson and his wife Mercy Clarkson (Nurse).
Dr. Marvin Clarkson is going to be the Chief Executive Officer of the business; He is a qualified and well trained Medical Doctor with well over 15 years of experience working as a medical doctor and medical researcher with the United States’ government. He will be ably supported by his wife Mercy Clarkson who has grown in her career to become one of the most respected senior nurses in Miami, Florida.
Health Is Wealth™ Home Healthcare Services is in the business of ensuring that our patient / clients are well treated and taken care of and our services will be carried out by highly trained professional physicians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers who know what it takes to give our highly esteemed customers value for their money.
These are the home health care services that Health Is Wealth™ Home Healthcare Services will be offering;
- Skilled Nursing
- Nursing Aide
- Social Work
- Occupational, Physical, and Speech Therapy
- Personal Injury Case Management
- Home Medication Management
- Personal Assistance Services
- Our vision is to become the number one choice when it comes to home healthcare service delivery in the whole of Florida and also to be amongst the top 20home health care service provider in the United States of America within the next 10 years.
- Health Is Wealth™ Home Healthcare Services is in business is to establish a first class home health care service company that will take care of both highly placed clients and lowly placed clients as long as they can afford our services.
- We want to become one of the leaders in the home health care services industry in Florida, and in The United States of America.
Our Business Structure
Health Is Wealth™ Home Healthcare Services is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals (physicians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers) to man various job positions in our organization.
We are quite aware of the rules and regulations governing the health care industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in Florida and the whole of the United States.
When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Health Is Wealth™ Home Healthcare Services;
- Chief Medical Director/Chief Executive Officer
Physicians/Chiropractors/Medication Management Counselors/Physical Therapists
- Nurses/Nurse’s Aides/Mental Health counselors
- Information Technologist (Contract)
- Home Health Caregivers/Home Caregivers/County Aging Workers/Rehabilitation Counselors
- Sales Agent
- Cashier (Counter Agent).
Chief Medical Director/Chief Executive Officer:
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Attend to high profile clients and severe medical cases
- Responsible for fixing prices and signing business deals
- Responsible for recruitment
- Responsible for payment of salaries
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for providing professional medical services to our patients
- Responsible for offering occupational, physical, and speech therapy
- Responsible for handling medical emergencies
Pharmacist:
- Responsible for managing the daily activities in the company (dispensary store)
- providing advice about health issues, symptoms and medications in response to customer enquiries
- Responsible for recruiting, training and managing staff
- Responsible for processing prescriptions and dispensing medication
- Responsible for ordering, selling and controlling medicines and other stock
- Responsible for meeting medical representatives
- Responsible for managing the organizations’ budgets
- Responsible for keeping statistical and financial records
- Responsible for preparing publicity materials and displays
- Handle marketing services
- Interfaces with third – party providers (vendors)
- Handle any other duty as assigned by the CEO
Nurses/Nurse’s Aides/Mental Health Counselors
- Responsible for managing our patients in their various houses
- Handles personal injury case management
- Responsible for offering home medication management services
Sales Agents
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information as it relates to those who need our services
- Source for clients for the company
- Responsible for promoting the company’s image
- Responsible for creating marketing and sales strategies, etc.
- Represents the organization in some strategic business meetings
- Handle any other duty as assigned by the floor manager (Pharmacist)
Information Technologist
- Manage the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manage logistics and supply chain software , Web servers, e-commerce software and POS (point of sale) systems
- Manage the organization’s CRM software application
- Handles any other technological and IT related duties.
Cashier (Counter Agent):
- Receives payments on behalf of the organization
- Issues receipt to customers
- Prepare financial report at the end of every working week
- Handles financial transaction on behalf of the company
- Interfaces with our bankers
- Responsible for payment of tax, levies and utility bills
- Handles any other duty as assigned by the office
- Responsible for cleaning the store facility at all times
- Ensure that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the office facility
- Handle any other duty as assigned by the office manager
Health Is Wealth™ Home Healthcare Services is set to become one of the leading home healthcare service providers in Florida which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business.
We want our home healthcare services company to be the number one choice of all residence of Miami and other cities in Florida. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.
Even though our Chief Medical Director (owner) has a robust experience in health management services, public health and medical research, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the healthcare industry.
This is the summary of the SWOT analysis that was conducted for Health Is Wealth™ Home Healthcare Services;
Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our organization. As a matter of fact, they are some of the best hands in the whole of Miami Florida. Our location, the Business model we will be operating on, opening 24 hours daily and 7 days in a week, multiple payment options, well equipped medical call center and our excellent customer service culture will definitely count as a strong strength for us.
Our perceived weakness lies in the point that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business and also the finance needed for the acquiring helicopter to facilitate rapid response in cases of medical emergencies.
- Opportunities:
The opportunities that are available to home healthcare services providers are unlimited considering the fact that we have growing aging population in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in Florida.
Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reform). It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new and bigger/well established home healthcare brand in same location where our outlet is located.
7. MARKET ANALYSIS
- Market Trends
The health industry is indeed a thriving and dynamic industry; with the aid of technology, it is becoming easier to treat, manage and cure some ailments that before now are not easy to handle. No doubt there are many ways of providing healthcare services in this changing era since the place of delivery may be in the patient home, the community, the workplace, or in health facilities.
Before now is the practice for home healthcare service providers to restrict their services only to face-to-face delivery; a practice where a home health care provider and patient see each other physically most especially in the home of the patient. But in recent time, the trend has changed especially with the advent of improvised/modern telecommunications technology.
It is now easier for home healthcare service providers to leverage on technology to take care of their patients/clients. The achieve this by communicating with their patient over the phone, video conferencing, the internet, email, text messages, and all other medium through which non-face-to-face communication can be achieved.
No doubt the home healthcare industry will continue to grow and become more profitable because the aging baby-boomer generation in Unites States is expected to drive increasing demand for this specialized service.
Health Is Wealth™ Home Healthcare Services is in business to service a wide range of customers in Miami Beach, Florida – United States of America and other cities such as Green – Acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.
We will ensure that we target but self – pay customers (who do not have health insurance cover), and those who have health insurance cover.
Generally, those who need home healthcare services ranges from those with the elderly people, to those who are bedridden to those who have mental/psychiatric challenges and any other ailment that the physician deems that the use of therapy, regular medical counseling and health management .
The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the home health care industry in the United States. Our staff is well – trained to effectively service our customers and give them value for their monies. Our customers can be categorized into the following;
- Elderly people
- Expectant Mothers
- Injured Sports Men and Women
- Disable/Physically Challenged People
- People why mental/psychiatric challenges
- The aged who might suffer from severe joint pains and every other age categories who falls under the conditions listed by the physician.
Aside from the competitions that exist amongst various home health care service providers, they also compete against other healthcare services providers such as hospitals, health centers and community clinics et al. To be highly competitive in the home healthcare industry means that you should be able to deliver consistent quality patient service and should be able to meet the expectations of the physicians that referred patients to you.
Health Is Wealth™ Home Healthcare Services is coming into the market well prepared to favorably compete in the industry. Our office facility is well positioned (centrally positioned) and visible, we have enough parking space with good security.
Our staff is well groomed in all aspect of home healthcare service delivery and all our employees are trained to provide customized customer service to all our clients. our services will be carried out by highly trained professional physicians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers who know what it takes to give our highly esteemed customers value for their money.
We are going to be one of the few home healthcare service providers in the whole of Florida that will run a standard medical call center for 24 hours a day and 7 days a week. We have enough trained health workers that are ready to run a shift system.
Health Is Wealth™ Home Healthcare Services we will ensure that we offer a wide range of home health care services such as Skilled Nursing, Nursing Aide, Social Work, Occupational, Physical, and Speech Therapy, Personal Injury Case Management, Home Medication Management, and Personal Assistance Services. We will also ensuring that all our patient/clients are well treated and taken care of.
- Sources of Income
Health Is Wealth™ Home Healthcare Services will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the sources we intend exploring to generate income for Health Is Wealth™ Home Healthcare Services;
- Skilled Nursing Home Services
- Nursing Aide Home Services
- Occupational, Physical, and Speech Therapy Home Services
- Personal Injury Case Management Home Services
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field. Below are the sales projections that we were able to come up with for the first three years of operations;
- First Year-: $100,000 ( From Self – Pay Clients / Patients ): $250,000 ( From Health Insurance Companies )
- Second Year-: $250,000 ( From Self – Pay Clients / Patients ): $500,000 ( From Health Insurance Companies )
- Third Year-: $500,000 ( From Self – Pay Clients / Patients ): $1,500,000 ( From Health Insurance Companies )
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
The marketing and sales strategy of Health Is Wealth™ Home Healthcare Services Store will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch all – round home health care services at affordable prices compare to what is obtainable in Florida.
All our employees will be well trained and equipped to provide excellent and knowledgeable home health care services and customer service. We know that if we are consistent with offering high quality home health care service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first year and then more than 40 percent subsequently.
Before choosing a location for our home health care services, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Miami Beach, Florida – United States of America and other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al where our services will be available.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.
We hired experts who have good understanding of the home health care industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Florida.
In summary, Health Is Wealth™ Home Healthcare Services will adopt the following sales and marketing approach to win customers over;
- Introduce our business by sending introductory letters to residence, business owners and corporate organizations
- Advertise our business in community based newspapers, local TV and local radio stations
- List our business on yellow pages ads (local directories)
- Leverage on the internet to promote our business
- Engage in direct marketing
- Leverage on word of mouth marketing (referrals)
- Enter into business partnership with hospitals, government agencies and health insurance companies.
- Attend health care related exhibitions/expos.
We in the home health care services business -to become one of the market leaders and also to maximize profits hence we are going to explore all available conventional and non – conventional means to promote our home healthcare services business.
Health Is Wealth™ Home Healthcare Services has a long term plan of offering home healthcare services in various locations all around Florida which is why we will deliberately build our brand to be well accepted in Miami Beach before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Health Is Wealth™ Home Healthcare Services;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community health programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around Miami Beach Florida.
- Engage in road show from time to time
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles and ambulances are well branded with our company’s logo et al.
Health Is Wealth™ Home Healthcare Services will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America.
On the average, home health care service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for home health care service providers to bill their clients based on their discretion.
However, in some cases home health care service providers also adopt the hourly billing cum per visit billing method. For example, it is easier and preferable for home healthcare services providers to bill personal injury case management services by the hour as against a fixed price.
- Payment Options
At Health Is Wealth™ Home Healthcare Services, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (online payment portal)
- Payment via Mobile money
- Check (only from loyal customers)
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.
13. Startup Expenditure (Budget)
If you are looking towards starting a home health care services company, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.
You would need money to secure a standard office facility, you could need money to acquire medical equipment and supply and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them. Besides it is expensive to acquire a standard well – equipped ambulance.
The items listed below are the basics that we would need when starting our home health care services business in the United States, although costs might vary slightly;
- The Total Fee for Registering the Business in Maryland – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses for the grand opening of People’s Choice Retail Store in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- Cost for hiring Consultant – $2,500.
- Cost for Computer Software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
- Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
- Cost for office remodeling (construction of racks and shelves) – $20,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for Start-up inventory (stocking with a wide range of products) – $150,000
- Storage hardware (bins, rack, shelves,) – $3,720
- Cost for Nurse and Drugs Supplies (Injections, Bandages, Scissors, et al)- $3,000
- Cost for medical equipment – $50,750
- Cost of purchase of ambulance and other vehicles : $100,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
- The cost of Launching a Website: $700
- The cost for our opening party: $7,000
- Miscellaneous: $10,000
We would need an estimate of $750,000 to successfully set up our home health care services company in Miami Beach – Florida. Please note that this amount includes the salaries of all the staff for the first month of operation.
Generating Funding/Startup Capital for Health Is Wealth™ Home Healthcare Services
Health Is Wealth™ Home Healthcare Services is a private business that is solely owned and financed by Dr. Marvin Clarkson and his wife Mercy Clarkson (Nurse). We do not intend to welcome any external business partner which is why we have decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas Health Is Wealth™ Home Healthcare Services intends to generate our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $200,000 ( Personal savings $150,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure . If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Health Is Wealth™ Home Healthcare Services is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to sell our home health care services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Health Is Wealth™ Home Healthcare Services will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check:>Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of Medical Equipment and Ambulances et al: In Progress
- Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Compilation of our list of products that will be available in our pharmacy store: Completed
- Establishing business relationship with vendors (wholesale pharmaceutical companies): In Progress
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Nursing Agency Small Business Idea and Business Plan
Starting your own small business in the UK isn’t easy but having a properly developed business plan will help you achieve success.
To start a Nursing Agency business in the UK, take the time and explain the idea via a business plan.
Understanding all of the aspects of the business idea will be the key to getting the Nursing Agency business running like a well-oiled machine. The business plan you develop will help you organize the elements needed into a strategy that you can actually use to startup, by paving a clear road map as to what you need to follow for the lifespan of your business.
Starting a Nursing Agency business isn’t easy, but when done right, it can lead to a lot of success.
To help you get started, you can use the free business plan builder tool to develop your own Nursing Agency business plan.
The business plan template is very easy to use, is interactive and will quickly and easily help you create your business plan just by answering the needed questions about your small business idea.
Create your own Nursing Agency business plan for free using the Business Plan Builder
The free business plan template builder is divided into a few easy to follow steps.
The free business plan builder template is provided by UKStartups.org to help you develop your own business plan. For step by step guidance, see the 5 steps below.
Once completed, the result will be a clean, professional plan that will help you start your own Nursing Agency small business in the UK.
When you have completed your Nursing Agency business plan, the next step will be to find available funding that will help, or to speak with a funding adviser who will assist you each step of the way to securing the needed funds to make your Nursing Agency business startup.
If you are looking to limit your startup costs when starting up a Nursing Agency small business in the UK, this free business plan builder tool will be it.
Starting a Nursing Agency business is only one of the ways others have used this free business plan tool. There are hundreds of different ideas you can start, and if you need guidance, do reach out to a UKStartups expert to get the needed assistance and guidance.
Step 1. Your business information
To develop a proper Nursing Agency business plan with the free business plan builder template, it is important to answer each of the questions about your business to the best of your abilities.
What is your business? What are the products/services you provide? Who are your customers? What are your goals…etc?
Having a clear explanation will help you create a in-depth business plan that you can actually use to start the Nursing Agency business and to apply for needed funding to cover your startup costs.
Step 2. Projecting your revenues/income
The Nursing Agency industry can have great results. Planning and projecting the financial figures to approximate what you will make each year is crucial to building a strong business plan.
What do you think your business will make from each of its products/services? Simply list your products/services, enter the appropriate financial figures (costs and expenses).
If you don’t have the figures, in many cases it is recommended to do a a bit more research on other Nursing Agency businesses locally and within your own region to get an idea of potential revenue. You can do your best to estimate the figures and growth potential.
If you need assistance in projecting, you can always contact UK Startups funding experts for the help.
Step 3. Your business market
As a Nursing Agency business, having a clear explanation of the market and industry that you are in will help you plan for the figure and will ensure you can take the business to the next level.
Explain your location of business, share specifics about your customers, showcase your competition and explain the advantages you have over your competition.
Step 4. The future plan
Starting your own Nursing Agency business and getting it off the ground is important to you.
No matter if you’re planning on applying for government funding for your Nursing Agency business or not, it is important to plan out the future and provide an explanation of how you will grow the business. This means explaining your marketing plan, your sales strategy and clearly outlining a growth plan for the next few years.
Be sure to break this down step by step to show how you intend on making sure your Nursing Agency business can grow each year.
Keep in mind that often business plans are focused on key people. Be sure to discuss yourself, your role and any other key figures in the business as well.
Step 5. The financials
In the end, it all comes down to the financials. If you are seeking funding, or not – the business plan you develop needs to have clearly defined financials or projections. The business plan builder tool makes it easy to develop your financial charts by simply entering your expected revenues per month and year. If you don’t have the figures as it’s a new business be sure to project the figures based on your expectations. If you need help with this, ask the UK Startups experts .
A clear breakdown of your funding needs is also recommended in case you are seeking funding and this free business plan template will help you with exactly that. When developing your Nursing Agency business plan using this free template, the above 5 steps are recommended in order to succeed. While there are other key points that will assist you in starting your business, finding funding...etc, the free template will help put you on the right path
Be sure to request a professional to review your business plan , to answer any questions you may have and to help you with the funding search once you’ve done the initial free template. You can request this directly via UKStartups.org and through the Small Business Startup Platform as a member.
If starting a Nursing Agency business is just one of your ideas, perhaps considering other options, here are some popular small business’s others have chosen to startup
- Business Center
- Marble Contractor
- Shinto Shrine
- Unitarian Universalist Church
- Wedding Planner
How to Start a Nurse Staffing Agency
*This is a guide to get your nurse staffing agency started.*
Please do not contact prn funding until your healthcare agency has factorable invoices..
As the life expectancy in America increases, so does the demand for nurses. The aging baby boomer generation is driving growth in healthcare facilities like hospitals and nursing homes. A nursing staffing agency is extremely helpful and necessary for these medical facilities to find and hire the quality nurses they need , when they need them. Privately owned nurse staffing companies connect nurses to their potential jobs and/or health care facilities to their employees.
While this creates a great business opportunity, it is important to know how to correctly go about starting a nursing staff agency. There are many specific requirements that can be complicated. Keep in mind, this is a broad guide, and the legal requirements and licensing details vary greatly from state to state. Check with your state licensing agency before you officially begin your new, exciting business endeavor in the nursing recruitment world.
Starting a Staffing Agency for Nurses: The Dos, Don’ts and Shoul d Haves
Do: make a business plan.
Forming a startup business plan is a must. This allows you to visualize your company goals, organize your thoughts and plan your finances. Having a plan allows you to stay focused on what’s important and prepare for challenges that may arise. It’s also a great way to present your business to other companies and the public. This plan can be as extensive or brief as you feel necessary; it’s your business. Here are some sections to consider including in your nurse staffing business plan.
Executive Summary
Think of this as an introduction to your nurse staffing temp agency. Use this section to briefly summarize all the elements of your entire plan.
Company Description
This is the place to describe who you are and what your company plans to do. It’s also a great place to add your mission statement .
Products and Services
This section seems a little obvious; explain your services. Because a nurse staffing companies’ services are self-explanatory, this section may be brief. Use this section to explain what sets you apart. How will your agency be different from other nurse staffing agencies? Are you in a unique niche? What are your standards of service? How will you handle new assignments? What is your fee structure? What will you do if you receive a disappointed client? Plan now to prevent chaos in the future.
Marketing Plan
Here is where you’ll provide the details of your target market. Are you only working with hospitals? Evaluate your competitors in this section. Note what they are doing and opportunities they are missing. This section can be helpful in the future. Also, be sure to establish a possible plan and budget for marketing efforts. For example, how much will you want to spend on paid advertising online?
Marketing can take several forms. You can start direct mail marketing campaigns or attend staffing company conferences and networking events. Creating a social media presence can help grow awareness of your business. Don’t forget to include your website in the plan. Search engine optimization (SEO) marketing is how website content makes it to Google results.
Operational Plan
Explain how you, as the owner, are going to run your business. Describe in detail how you are going to achieve your goals. For example, how will you organize your staffing lists? Most staffing agencies do so by qualification, availability, or experience.
As a staffing agency in the “people” business, you’ll need a professional office space for recruiters, coordinators, applicants, and sales staff to work. Your office should also have a reception area to greet and help visitors.
Management and Organization
Define in this section what type of facility and supplies you’ll need to operate your startup nursing company. Deciding what type of building you need and where you want to be located early in the process will save you time in the future. Remember that you’ll need an area in the facility to interview or meet with prospective clients and store paperwork and documents.
Financial Plan
Try to project your expenses, budget and cash flow in this area of your plan. Don’t forget to establish some sort of timeline, a weekly cash flow budget for example. You can find templates in Excel and Google to help with this.
Do: Register Your Business
Government requirements for staffing agencies vary, but you will need to obtain an LLC, which is a limited liability company. This is when you’ll establish a name for your nurse staffing company. Be sure your new name doesn’t already exist as an LLC in your state. The registration process varies by state, so be sure to check the rules and process for your location.
Once you are registered, you’ll get a tax identification number to pay business taxes and employee withholding. You can receive your business license by applying to your city or county. Most of these license applications can be done online.
Do: Get Insurance & Subscribe to a Drug Screening Service
When caring for other people, there’s always a chance that something can go wrong. Having insurance to protect yourself and your business is important. General Liability Insurance can cover funds for legal services. Workers Compensation Insurance covers lost wages and medical expenses for employees injured at work.
In addition, you’re the connecting point of nurses and potential clients, so you’ll want to make sure you conduct a background check and drug screening. This helps ensure the nurses you’re referring are professional and accountable.
Do: Establish Directories and a Website
Create lists of hospitals, potential nurses, and other facilities in your target area (determined in your plan) that can be quickly accessed or posted to your website. A website can be created for little to no cost with Wix, Weebly or WordPress.
In addition to your website, creating social media pages can create an additional element of trust for potential clients. Facebook pages or LinkedIn profiles are great for marketing purposes and to connect with prospects. These platforms have made creating a profile very user friendly and simple.
Should: Save Enough to Operate for Four to Six Months
Starting any business, including starting a nurse staffing agency, costs money at first. Many healthcare facilities can take weeks to pay their invoices. This can cause issues when payroll needs to be met. Financing options such as factoring can help support your business but try to budget for unexpected issues.
Don’t: Slack Building Relationships
Recruiting nurses for clients can be a difficult job. It requires a skill set that includes organization, determination, and a natural ability to interact with people. Building genuine relationships with nurses, current clients and prospective clients will lead to overall satisfaction on everyone’s end. It will also help you receive referrals and solid reviews.
Don’t: Get Discouraged
Preparing to start a nursing staffing agency can be time consuming and overwhelming. Startup costs alone can scare off some aspiring business owners. Don’t give up! Having a solid work ethic is a key to success for your company. Financing option such as invoice factoring can help your agency grow and meet your full potential. See if nurse staffing factoring can help your startup and get your company moving. Give us a call or fill out this form to get started today!
*This is a guide to get your nurse staffing agency started. *
Please do not contact prn funding until your healthcare agency has factorable invoices. , you might be interested in:.
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3+ Nursing Agency Contract Templates in PDF
A Nursing Agency is a business that provides nurses and usually health care assistants (such as Certified Nursing Assistants ) to people who need the services of healthcare professionals. Nurses are normally engaged by the agency on temporary contracts and make themselves available for hire by hospitals, care homes and other providers of care for help during busy periods or to cover for staff absences.
Table of Content
1. nursing agency contract, 2. agency nursing education and program contract, 3. nursing agency contract and orientation, what is nursing agency, what are the factors that determine a nursing agency, what is office nursing, why is making an agreement essential while developing a nursing agency, how to develop an agency contract in some easy steps.
Make Entries for Clarity
- Utilize lawful language to assign the name under which you will be called all through the agreement, for example, “office” or “organization.”
- The principal segment additionally leaves space to fill for the sake of the medical caretaker who will be alluded to as “attendant,” or “self-employed entity.” Contracts need to unmistakably recognize the attendant as a self-employed entity so the office isn’t liable for finance charges.
Keep a Track of the Rundown Services Provided
- It is viewed as appropriate manners for an attendant to offer to make up a move if the medical attendant must take a day off.
- The other detriment is there is quite often a two end of the week a month responsibilities. Moreover, in a few – however not all – cases there might be some occasion duties.
Name of Two Parties
Basic terms, review and signature, more in agency templates.
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Your travel nursing and allied career Starts here
Therese M., PACU
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Hospice Registry Providing Continuous Care for Healthcare Staffing Agencies
We exist to serve you. Let us know how we can help!
Nurse Staffing Agency in Sherman Oaks, California covering Los Angeles, LA County, San Fernando Valley, Orange County, and San Bernardino County. Best of healthcare staffing agencies ready to serve you and your patients with our nursing agency after-hours team providing 24 hours a day, seven days a week of hospice nurse staffing for your patients. We also staff RNs, LVNs, HHAs, QAs and provide a Hospice Answering Service to help you to best care for all of your patients.
Interested in building, buying or selling a hospice?
We are happy to help and would love the opportunity to help you evaluate your options, to build, buy or sell a licensed hospice with a medicare provider number. Although the process of building a new hospice is often a long undertaking, typically between 8-16 months, it is a financially rewarding venture with the potential to provide greater than a 50% return on investment within the first few years if done right.
That is why we exist, to help you to succeed. As you build your hospice, you will need help to build a network of administrative and clinical support staff. You will need help to develop your marketing network, opening channels of patient referrals for your hospice. You will need help to facilitate your interdisciplinary team meetings regarding the daily, weekly, and monthly patient needs and coordinate visits of all clinical disciplines required to help you accomplish your ultimate goal: Giving the best possible, financially prudent care, for your hospice patient.
For all this you need to develop a network.
Look no further, we are your HOSPICE ALLIANCE NETWORK.
Secondly, it may be an exciting time for you where you are looking to enter into the realm of hospice ownership / partnership and if you are looking to purchase a hospice agency, we will help you to find the best price on an agency that will meet your current needs, whether a less expensive agency that is newly established with their medicare provider number, or a presently successful hospice agency generating hundreds of thousands of dollars of income per month. We will work with you to help you acquire the hospice agency which best meets your goals and current scenario.
Lastly, we understand that some of you may be experiencing life challenges and looking to sell your hospice agency so that you may be better able to position yourself financially. We would be happy to sit down with you to help you determine what buyers may be available in your area to help you get the greatest return on the sale of your hospice agency.
Do you need help getting patients?
We would love to help you to develop your patient referral channels. It is our passion to help patients find out about your hospice services, so that they can get the best care they need during the difficult time at end of life care!
Passionate Marketing Experts
We will help your hospice business to create your brand presence and achieve your goals. Our process is designed to empower your hospice with our marketing team's strategies and work to help you find new hospice patient's and to bring them into the care of your hospice company. Talk to us today about how we can support your growth, increase your census, and put you on a solid track to success and profit.
Our Analytical Approach
Our service includes a comprehensive consult to help identify gaps and opportunities, and results in a comprehensive report that includes a project plan with timelines and projected return on investment analysis. Our individualized plans are made up of quality services that will help you get there quickly and smoothly.
Our Success is Your Success
We want to give you the time and guidance you deserve. Whether you are just building your hospice, or need to reach a new record high for your census, we can work with you to create your brand story that will relate to your target market and lead your hospice to success.
After-Hours Nursing Triage Telephone Services
Let your team rest! At the end of the business day, and or the start of the weekend, transfer your phone lines to our After-Hours Nursing Triage Telephone Services where a registered nurse will be able to answer all of your patient's / family's calls. The goal is to fully manage all of your patient's after-hours needs: ranging from supplies and medications to be ordered, giving instructions on what medications or interventions are needed to manage patient's symptoms, sending nurses during an after-hours crisis for a short PRN visit or for a long continuous care scenario where patient may need around the clock nursing services to help.
On a personal note
The Bible tells us in Isaiah 17
"7 In that day a man will look to his Maker, And his eyes will have respect for the Holy One of Israel. 8 He will not look to the altars, The work of his hands; He will not respect what his fingers have made..."
This verse is a reminder that none of us are self made men (or women) and that each of us has a Creator who loves us personally and is eternally invested into our well being, to His glory.
Combined Experience
As a partner in our Hospice Alliance Network, you will have access to doctors, directors of nursing, registered nurses, licensed vocational nurses, marketers, social workers, and chaplains, as well as other owners like yourself.
Service and Reliability
As a partner in our Hospice Alliance Network, you may contact is for questions or support 24 hours a day, 7 days a week!
No question too small, no project too large.
READY FOR RESULTS?
We exist to serve you.
Let us know how we can help!
HOSPICE ALLIANCE NETWORK
Sherman Oaks, California 91403, United States
(818) 574-7356
As a Hospice Alliance Network partner, you may contact us for questions or support 24 hours a day, 7 days a week!
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Digital Marketing Agency Business Plan Template & Guidebook
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How to Write a Digital Marketing Agency Business Plan in 7 Steps:
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This healthcare business plan template includes an executive summary, company overview, market analysis, financial plan, and more. This accessible healthcare business plan template includes step-by-step instructions. Word Download Share More templates like this Find inspiration for your next project with thousands of ideas to choose from
Our Nursing Agency Business Start up Package includes over 100 professionally formatted, comprehensive documents in word and excel that are all fully customizable. Over 100 Templates Professionally formatted Completely customizable Affordable Instant Download Save time and Effort Increase productivity and effectiveness Improve your communication
Open for Business. 1. Choose the Name for Your Nursing Agency. The first step to starting a nursing agency is to choose your business' name. This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable.
Our Nursing Agency Business Start up Package includes over 100 professionally formatted, comprehensive documents in word and excel that are all fully customizable. Over 100 Templates Professionally formatted Completely customizable Affordable Instant Download Save time and Effort Increase productivity and effectiveness Improve your communication
The business plan will provide a complete guide of the business with financial, operational and marketing strategies, as well as all the forms, and training material that will help and guide you along your journey by saving you time in starting and operating a successful nursing agency. Business Model
A basic business plan should include the following: An executive summary Company ownership structure and financing Market analysis and business plan Pricing model and marketing plan An appendix section listing supporting information Bottom Line There you have it!
Business Plan (26 to 30 pages) Marketing Plan (24 to 28 pages) 425+ Page Funding Directory PowerPoint Presentation Loan Amortization and ROI Tools Three SWOT Analysis Templates Easy to Use Instructions All Documents Delivered in Word, Excel, and PowerPoint Format Meets SBA Requirements Cash Flow Analysis Profit and Loss Statement Loan Amortization
A Sample Staffing Agency Business Plan Template. 1. Industry Overview. It is on record that the staffing, recruiting, and workforce solutions industry makes a huge contribution to the economy of the Unite States of America, and they provide jobs and career opportunities for about 14 million employees annually.
Starting a staffing agency business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Staffing Agency Business Plan - The first step in starting a business is to create a detailed staffing agency business plan that outlines all aspects of the venture.
Create a business plan for a medical office or any healthcare start-up using this detailed business plan template. This healthcare business plan template includes an executive summary, company overview, market analysis, financial plan, and more. This accessible healthcare business plan template includes step-by-step instructions.
A Sample Home Healthcare Agency Business Plan Template 1. Industry Overview No doubt, the healthcare cum medical industry is perhaps one of the fastest growing and largest industries in the world; this is so because the wealth of any nation depends on the health of the nation.
A nursing business plan is a documented roadmap that guides nurses on how to run their business successfully from the financial, marketing, and operational view. It lays out the structure on how to go about achieving their goals and objectives for their business. There are a lot of choices of business ventures for the nursing skilled profession.
The business plan template is very easy to use, is interactive and will quickly and easily help you create your business plan just by answering the needed questions about your small business idea. Create your own Nursing Agency business plan for free using the Business Plan Builder
The dos and don'ts of starting a nursing staffing agency. From a writing business plan to registering as an LLC. Talk to Us: 866.886.9466. ... You can find templates in Excel and Google to help with this. Do: Register Your Business. ... Preparing to start a nursing staffing agency can be time consuming and overwhelming. Startup costs alone ...
3+ Nursing Agency Contract Templates in PDF 1. Nursing Agency Contract idph.state.il.us Details File Format PDF Size: 863.3 KB Download 2. Agency Nursing Education and Program Contract portal.ct.gov Details File Format PDF Size: 34.3 KB Download 3. Nursing Agency Contract and Orientation nursing.aahs.org Details File Format PDF Size: 8.7 MB
Just click & go. As America's largest travel nursing agency, and a leading allied and locums agency, we make things simple. We provide you with the opportunities, resources, technology and support you need to grow your career. Traveling with Aya is as easy as 1-2-3. Create your profile and complete your application. Be as detailed as possible.
Call us now, open 24 hours a day (818) 574-7356 Nurse Staffing Agency for Los Angeles, LA County, San Fernando Valley, Orange County, and San Bernardino County.
provider. The "Sample Discussion Questions" serve as a starting point for potential partners to identify common goals; terms of engagement; and roles and responsibilities. Once there is agreement on key decision points, the "MOU Template" can serve as a tool to help partners design an implementation plan for their joint activities.
Tiếng Việt. Medi-Cal is California's version of the federal Medicaid health coverage program. This is a public health care program for California residents with low income and resources. Medi-Cal is a large program that provides a range of free or low-cost health services aimed to assist Californians with medical needs.
How to Write a Digital Marketing Agency Business Plan in 7 Steps: 1. Describe the Purpose of Your Digital Marketing Agency Business. The first step to writing your business plan is to describe the purpose of your digital marketing agency business. This includes describing why you are starting this type of business, and what problems it will ...