Our client hospitals already know that we can offer them high-quality, temporary healthcare workers who provide first-rate patient care, and this research shows that our contingent labor services can also be part of a strategic cost savings plan for healthcare facilities nationwide.
NEW YORK (PRWEB) November 08, 2017
A 2017 study from KPMG examining U.S. hospital nursing labor costs shows that when all costs are considered, travel nurses cost hospitals less per hour than permanent staff nurses.
Based on feedback and data from 100 senior hospital executives, the study considered costly factors like overtime pay, paid time off, retirement, insurance, recruitment, and payroll taxes, as well as additional hidden costs of permanent staff, like non-productive labor hours, attrition, and time and resources required to fill perm positions.
According to the KPMG study, “Cost data provided by hospitals indicates that the hourly, all-in cost for a full-time, permanent nurse is approximately $89. This hourly cost is higher than traveling nurses that cost approximately $83 per hour.”
The National Association of Travel Healthcare Organizations (NATHO) and its agency members are pleased to see research illustrating the value that contingent healthcare workers provide hospitals nationwide.
“The research from KPMG supports the value and opportunity that travel healthcare staff offer healthcare facilities,” says Craig Meier, NATHO Board President and CEO at Medical Solutions, the nation’s third-largest travel nurse staffing company. “Our client hospitals already know that we can offer them high-quality, temporary healthcare workers who provide first-rate patient care, and this research shows that our contingent labor services can also be part of a strategic cost savings plan for healthcare facilities nationwide.”
The study also indicated that hospitals appear to recognize the value inherent in staffing travel nurses, due to the finding that hospitals are forecasting higher future usage of traveling healthcare professionals.
Click here to view the KPMG U.S. Hospital Nursing Labor Costs Study in full.
ABOUT NATHO: NATHO (National Association of Travel Healthcare Organizations) is a non-profit association of travel healthcare organizations, founded in 2008 to promote ethical business practices in the travel healthcare industry, setting the gold standard for conduct that is aligned among member agencies on behalf of travel healthcare candidates and clients. NATHO aims to educate the healthcare industry on the benefits of travel healthcare staffing, establish a set of service standards among agencies, share resources among member organizations, offer a formal dispute resolution process through an arbitration committee, and aid all members in cultivating market growth. NATHO members are held to a strict code of ethics developed specifically for the travel healthcare industry. Visit NATHO.org to learn more.