Estimate ROI with the Managed Services Provider (MSP) Cost Savings Calculator.
September 23, 2014 by Vickie Anenberg
The most important goal for any business is to gain a significant return on its investments, and Cross Country Staffing’s new MSP cost savings calculator allows you to estimate the ROI of our MSP program. Financial challenges have ranked as the top problem for healthcare executives for a decade, according to the American College of Healthcare Executives. The latest tool available on our website and mobile app is extremely easy to use for all healthcare executives allowing you to see the financial benefits associated with using our MSP program.
To best estimate your ROI, the calculator is divided into four sections. These account for each healthcare facility's unique circumstances – interviewing, orientation and onboarding, rate reduction and standardization, and back-office savings. Be prepared to answer the following in each section:
- Interviewing: How many applicants does your facility interview per year and what is the cost per candidate?
- Orientation and onboarding: How many candidates, on average, do you hire per year, and what is the cost of training and any necessary testing?
- Rate reduction and standardization: How many temporary staff members does your facility use, on average, and what is the cost for their services? Also, do you use any type of technology to manage, order and distribute the process for credentialing, onboarding and education?
- Back-office savings: How often does your team call vendors to order staff and at what cost? What costs are involved with approving invoices and analyzing the use of temporary staff?
The results are provided in two forms. One metric is the total dollar amount of savings, and the other is represented by the percentage of savings compared to your facility's current temporary staffing process.
Cross Country Staffing’s MSP program streamlines your staffing process by enhancing the credentialing management and verification process, standardizing staffing orders and improving compliance tracking. Learn more about Cross Country Staffing and how we can help your healthcare facility improve its staffing process. With years of experience, expertise and an extensive database of qualified healthcare professionals, we are ready to help.