How to Calculate Pay Rates in Healthcare Staffing - Tips and Mistakes to Avoid

Check out our 2-hour webinar with @thenosagrp talking all about rates if you a more in-depth explanation on how to calculate them!
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Are you an owner of a nursing agency and struggling with determining pay rates for your employees? In this video, we at Passive Workforce, a boutique consulting firm that specializes in healthcare staffing, share some valuable tips and common mistakes to avoid when calculating pay rates.
We start by discussing the key points that you should consider when creating your pay rates, such as industry standards, your geographical location, employee experience, and the demand for the specific job. We also share our custom spreadsheet, which is accessible only to our clients, to accurately set your rates, negotiate with facilities, and know down to the penny what you should be paying and billing.
We then dive into how to do market research to determine if you're paying market rate, and we provide information on how our HR team does it. We also offer online courses packed full of information to guide you in the right direction and help you avoid common mistakes that could cost you millions.
Finally, we highlight the common mistakes that other healthcare staffing agencies make when designing their pay rates and provide tips on what you should do to avoid the same fate. We also suggest checking out another video where we cover the difference between wage earners and independent contractors, as the wrong setup could cost you millions.
Subscribe to our channel and like our videos to stay current with the latest in the healthcare staffing industry. And if you need personalized guidance on how to calculate pay rates for your healthcare staffing agency, book a 1-on-1 session with a member of our team. Don't let the complexity of pay rates hold you back - with Passive Workforce, you can thrive in the healthcare staffing industry.

[@passiveworkforce]

Check out our 2-hour webinar with @thenosagrp talking all about rates if you a more in-depth explanation on how to calculate them!
www.passiveworkforce.com/pw-x-nosa

[@floyd9223]

Great content, thank you. What about malpractice insurance? Is that a cost the staffing agency has to bear?

[@passiveworkforce]

Yes but it's negligible with scale. It will be around $150-200/ per a nurse per year

[@black12212]

So, Medicaid pays a HomeCare company $22.37/hr. Is paying my Caregiver $10/hr fair?

[@passiveworkforce]

It's up to you and the local expectations. Simple rule if thumb is take the bill rate and multiply it by .66 that gives you your hourly budget and enough marging to make a profit but what about if there are minimum wage laws you have to meet then you have to honor that. What city and have you opened your agency?

[@GeishaDoll]

@@passiveworkforceOklahoma City 🙏

[@splashybaby1394]

please if you are looking to collaborate dont hesitate to contact

[@passiveworkforce]

Sure send your information to [e-mail]