How does MedSquirrels differ from the traditional MSP/ Staffing agencies?
The healthcare sector has witnessed an increased workforce demand post the COVID-19 pandemic. According to the US Bureau of Labor Statistics, an average of 1.8 million jobs are projected each year for healthcare professionals, which is expected to increase tremendously over the next decade. There is a shortage of workforce across the healthcare industry due to reasons such as poor work-life balance, unfair compensation, and tedious recruitment and credentialing process. Due to the changing patient census and seasonal demands and health crisis, healthcare facilities relied on Managed Service Providers (MSP) and staffing agencies to hire contractors. Many MSPs and staffing agencies have risen to support the healthcare staffing needs in the last few years. Yet, the major drawback of this MSP and staffing agency model is their limited transparency. Neither the healthcare professionals hired through the MSP + Staffing agency model are aware of how much they are billed for their services, nor the facilities have an idea of how much the workers are paid.
To resolve this issue and bridge the gap between the healthcare professionals and the facilities, MedSquirrels came up with an end-to-end hiring and payrolling platform with the transparent pricing model. Unlike the traditional staffing service model, MedSquirrels is a SaaS-based platform that manages recruitment and payroll for contract workers using software. Facilities can leverage Medsquirrels platform to hire healthcare professionals on a contract basis (using our purple and orange plans) or on a permanent basis using our blue plan.
Read through the blog to find out why Medsquirrels is a better choice compared to the traditional MSP + staffing agency model.
Transparency in pricing: At Medsquirrels, we don’t believe in markups or commissions based on total bill rate. Instead we have a flat fee model where facilities are billed the payroll cost and a flat license fee for contract roles. The license fee will be the same whether you are hiring a doctor or a nurse or a nursing assistant. This ensures most of your bill rate goes towards the pay of the provider.
Best way to attract top talent: When healthcare professionals know that most of the fee that is billed is going towards their pay and knows exactly how much their services are billed for, they love working with us vs working on a traditional MSP + staffing agency model where bill rate is a mystery.
Least amount of red tape: In the current staffing model there are too many players to deal with. Facilities, MSP, Staffing Agency and the worker. By replacing MSP and staffing agency with a platform like MedSquirrels the worker will not have any middle layers/entities to deal with as MedSquirrels acts as a HR extension to facilities with every step of the hiring and payrolling process automated. This eliminates red-tape and makes workers more productive.
Software-based interactions: Instead of various middlemen in the traditional MSP + staffing agency model, using MedSquirrels platform becomes highly convenient for both the facilities and the clinicians to initiate, track and manage offers, credentialing, pay rates, time sheets, leaves and even off-boarding as well.
Streamlined credentialing process: Credentialing is the most tedious and yet much needed process required to on-board a clinician. With too many entities involved between the worker and facilities, often misunderstanding and hiccups arise during credentialing risking delay in start dates. When hiring clinicians using MedSquirrels platform, every step of the credentialing process and requirements are documented in the dashboard as single system of record for facilities track and confirm. This ensures credentialing is completed on time and many times quicker than expected.
In the world of technological advancements, it is essential to bring up the technologies to ease the challenges that can hinder the efficiency of hiring contract professionals working in the healthcare sector. Medsquirrels is a platform specially built for the healthcare sector realizing the busy work schedule and the staffing demands in USA and Canada. Our software platform is efficient and has user-friendly functionalities for both the facilities and the workers. The healthcare sector requires well-experienced and qualified professionals, and the salary expectation from such professionals will be high. By eliminating the huge markup fees that come in between the facilities and the clinicians, we make sure that the health professionals are paid well and at the same time save money to the facilities.
