How a VMS Simplifies Traveling Nurse Recruitment and Management By Staffing Agencies

The dramatic increases in the travel nursing market in 2021 and 2022 have tapered off and normalized in the past few years. However, travel nurses are still in high demand due to the global shortage of healthcare professionals.  

The World Health Organization (WHO) forecasts a global shortfall of 10 million healthcare workers by 2030. As such, staffing agencies and managed service providers will play an even greater role in contingency hiring and travel nurse assignments. However, distinct requirements require a centralized vendor management system (VMS) to streamline and optimize processes.

Challenges in Travel Nurse Staffing  

There are several unique challenges when it comes to managing travel nurse assignments.

Compliance and Credentialing

One of a staffing agency's biggest challenges when managing travel nurses is navigating the stringent compliance and credentialing requirements. On top of baseline requirements, healthcare facilities frequently have their own specific criteria that candidates must meet, such as holding certain certifications or having a minimum level of experience. 

Ensuring each travel nurse meets all the necessary qualifications is an ongoing struggle—not just at engagement but throughout their assignment.

Complex Compensation

Travel nurse comp packages vary greatly, including hourly rates, per diem, travel and housing allowances, and more. The variables stack up quickly depending on specialties, geographic location, and facility policies.

Churn

Travel nurses move from one short-term assignment to the next, so agencies constantly need to source and match new candidates. This perpetual churn makes maintaining a consistent pool and forecasting staffing needs difficult.

Competition

With other agencies soliciting the same pool of candidates, speed is often a deciding factor in placements. Assignments come up quickly, often with a tight window to find and place a candidate. You need to determine viable candidates and make offers quickly to secure placements.

The Benefits of a VMS for Travel Nurse Staffing

A VMS helps overcome nurse staffing challenges by streamlining processes and centralizing candidate management. Some of the key benefits include:

• Efficiency: Automated workflows reduce manual paperwork—and minimize administrative costs. 
• Efficient matching: Candidates who match detailed credentials, licensing, and facility requirements to maximize client satisfaction and patient care are quickly isolated.
• Real-time data: Up-to-date job openings, candidate status, contracts, and placements are readily accessed. 
• Communication: Communication is improved as a VMS serves as a central hub for coordinating between facilities, agencies, and nurses.

Additionally, on a business management level, a VMS helps improve:

• Time and Expense Management

The right VMS solution can accurately calculate compensation packages to reduce errors and overpayments. By automating payroll and invoicing, you ensure timely payments, save time, and improve cash flow.

• Reporting and Analytics

Another significant benefit is you can track key performance indicators (KPIs) such as fill rates and time-to-hire. You can also capture performance data on candidates from facilities to aid in placement decisions and nurse satisfaction for better matching.

• Vendor Management

Vendor relationship management also becomes easier with a VMS. You can monitor the performance of facilities and other vendors, identifying any areas of concern or opportunities for growth. The data generated also helps you have honest conversations with vendors, with the data to back up your concerns.

6 Things to Look for When Selecting VMS for Travel Nursing

To find the best-fit VMS for your staffing agency, you should carefully evaluate potential solutions that can handle the complexities of hiring and managing travel nurses. Here are some of the critical considerations:

1) Intuitive Design

You want an easy-to-use system. You need a deep set of tools, but if they aren’t intuitive, you can face adoption problems with your team.

2) Mobile Access

You need a cloud-based system that provides real-time updates. This is necessary for agency teams to communicate effectively with travel nurses and facilities.

3) Healthcare Focus

If the system isn't designed to address the unique needs of healthcare and contingent workers, you will struggle to manage the nuances of travel nursing, credential checking, and compensation.

4) Workflow

Not all VMS options can adapt to your workflow. Some have a set way of doing things that you cannot customize to any great degree. Ensure the VMS you choose integrates within your workflow and can be tailored to your needs.

Look for a provider with deep expertise in data integration, migration, and customization.

5) Training and Support

You will need comprehensive training and ongoing support to optimize your VMS.

6) Cost and Startup

Cost is always a factor when choosing technology solutions. Look for a cost-effective solution that can get you up and running significantly. There are affordable options on the market today that don’t take months to install, train, and put into practice.

Managing Travel Nurse Staffing

Transitioning to a more streamlined way of managing travel nurse recruitment and assignments is critical in today's healthcare landscape. With the challenges of compliance, tiered compensation and bonuses, and maintaining a reliable candidate pool, implementing the right VMS can significantly enhance your operational capabilities.

Download our ebook, Optimizing Healthcare Staffing with a Vendor Management System, for an in-depth guide on optimizing your healthcare staffing with a VMS. This comprehensive resource delves into the specifics of leveraging a VMS to gain a competitive edge, streamline operations, and ensure the highest quality of patient care. Don't miss out on this essential guide—download it today to transform your healthcare staffing strategies.