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With the tremendous nursing shortage in the United States there would seem to be a lot of money to be made in travel nurse staffing. Although this may be true, starting a travel nurse staffing company may not be as easy as one might think.
The biggest challenge in starting a travel nurse staffing company most people face is a lack of capital. The issue is that nurses want to be paid for their work very quickly but hospitals won’t normally agree to pay the agencies as quick. If you were to start a travel nurse staffing company, you would need money to run your business while you are waiting to get paid by the hospitals.
Another thing to keep in mind is that the travel nurse staffing industry is highly competitive. You will need a constant source of nurse leads who are seeking jobs. These leads can be very expensive and may cost you thousands of dollars per month. Due to the high demand for qualified nursing professionals, and strong incentives offered by competitors, some nurses change their minds about taking an assignment when they get better offers from other companies. This is just another possible pitfall to keep in mind when starting a travel nurse staffing agency.
Another challenge in starting a travel nurse staffing company is you will have quite a bit of internal overhead. There are many pieces to the puzzle that will make it very difficult for only a few people to start. The key components are housing and nurse payroll departments, account management, and of course experienced nurse recruiters which may be difficult to find.
One additional factor to keep in mind is the potential liability in the nursing industry. You will need to make sure you carry a fair amount of liability insurance and that you keep good records of your nurses’ credentials. Collecting paperwork can be pain, but failure to keep good records could lead to big trouble and major headaches down the road.
In closing, this article is not meant to discourage you from starting a travel nurse staffing company, but to make you aware of some potential pitfalls that you will need to keep in mind. If you remember some of the key points mentioned above, there is a good chance you will have a successful, profitable, travel nurse staffing agency.
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Steve Arnold writes for Jobs in Nursing . Check out some other Jobs in Nursing Articles here.
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