Five Ways to Control Contingent Labor Costs

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Keeping up with the constant demand for healthcare workers is difficult enough, but finding the right individuals to build your team can be equally challenging. Quality patient care is a priority but hard to achieve when there is an increase in patients and not enough medical providers to see and treat them. These industry dynamics are leading many healthcare facilities to turn more often to contingent labor. 

With contingent employees, hospitals and medical practices can ease the load of overworked staff while simultaneously evaluating new providers before making permanent hiring choices. If your facility is utilizing contingent medical staff, keep reading to learn five ways to make sure you’re doing it efficiently and not overspending. 

#1 Only pay for what you need

How many nurses, doctors and administrative staff are needed to optimize your facility’s workflow and satisfy patient demands? Are there positions you currently need to fill? How about ones you should eliminate? Overestimating or underestimating the demands for a temporary position almost always leads to poor hiring choices that can cost double what it would take to properly estimate the requirements and find the right person. The most effective way to achieve this balance is working with a staffing agency that can help you evaluate exactly what you need then connect you with your ideal match. This ensures you are paying fair market rates for the exact skills you’re looking for. With the right number of employees, you can keep your contingent labor spending on target. 

#2 Know what you’re looking for

Regardless of the position for which you’re hiring, know exactly the tasks demanded of the role. Once you know what you are looking for, you will know how to interview and who to hire. Taking the time to develop a detailed job description will ensure that you hire the best-fit individual and avoid overpaying for skills you don’t need. For example, there’s a significant difference in the skill set of a physician assistant vs. an intake technician — as well as a huge difference in their compensation. By taking the time to fully understand the skills you are looking for, you’ll wind up with a more satisfied provider who is able to perform the job they were trained to do. 

#3 Find a staffing partner

Partnering with a staffing agency can help you save time and money. One of the many benefits of working with a credible healthcare staffing agency is the firm’s ability to identify quality candidates and fill positions quickly – helping you maximize your revenue stream and avoid the expensive costs of vacancies. A top-notch medical staffing firm will have established relationships with a large pool of potential candidates and will handle all the legwork for you.

#4 Provide effective training

Effectively training your staff will help cut expenses all around, as well as make your facility more efficient. When your contingent staff is adequately trained, they will know how to handle a variety of situations, as well as properly and effectively complete their tasks. It’s vital to be prepared for quick onboarding. Share essential points about your facility and provide printed resources for the newcomer to reference. Also make sure your full-time providers are clear on how they are to interface with the new contingent hire. The quicker you train a contingent staff member, the faster they can become a valuable contributor to your team.

#5 Track labor costs

The best way to stay on target with any budget is to track your spending. It’s critical to do the same for your contingent labor spending. Create a system that will not only track expenses but will also help you benchmark and meet goals. Data should be collected and recorded on a weekly, monthly and maybe even a daily basis. Over time, you’ll be able to see trends — such as seasonal costs — that will help inform your future staffing practices. In the end, you’ll be glad you invested the time in developing a system for data analysis, as healthcare facilities can significantly reduce costs by doing so. 

Finding a quality healthcare staffing agency

TinkBird Healthcare Staffing can provide highly talented, pre-qualified candidates to complete your clinical staff. With years of experience catering to the needs of healthcare facilities, our professional medical recruiters will utilize our extensive network of providers to complete initial interviews and narrow down the pool. Our job is to make your job easier and help our clients achieve the ideal cost/benefits and provider/patient ratios.

 

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