Ohio Among Top Three States in Need of Nurses

Ohio’s nursing shortage is projected to reach 23,000 by 2020, which is 29 percent of the projected national nurse shortage of 300,000.

Currently, Ohio reports only a 5 percent vacancy rate for RNs, which is below the national averages. This most likely due to the fact that Ohio nursing schools have been focusing on increasing their nurse graduates at the same time that older nurses are putting off retirement, but these trends won’t last long.

According to a report released this month by the Health Policy Institute of Ohio, nurses and nurse educators said longer hours, increasing case loads and greater physical demands are all straining the current nurse supply. Not to mention, more than 600 beds are slated to be added to central Ohio’s area hospitals in the coming years, which will increase nurses’ workloads in the area.

Nurse educators are needed as well. Ohio’s nurse faculty shortage is expected to hit 3,600 over the next 10 years. In 2009, The Ohio State University’s nursing school turned away three and a half qualified applicants for every one admitted, and three instructors left for higher paying jobs at the OSU Medical Center.

Looks like the state of Ohio is a good place to be if you’re a nurse staffing agency owner looking for new business!

Click here to read the entire article: Nursing stocked, but not for long.

Factoring Terminology

Entering into the world of accounts receivable factoring can seem overwhelming if you are not familiar with factoring industry jargon. We’ve identified and defined some of the more common factoring terms for our readers below:

Account Creditor – You, the Client and provider of goods or services.

Account Debtor – The purchaser of goods or services; responsible for the paying invoice.

Advance Rate – Money provided immediately to the company factoring its accounts receivable–expressed as a percentage of the total invoice amount.

Discount Fee – A fee assessed by a factor that purchases accounts receivable. The discount fee is determined by the size of the invoice, the length of time it takes to collect the funds and the creditworthiness of the customer, not the company selling the receivable.

Factor – A company that provides operating capital to businesses by purchasing their accounts receivable.

Factoring – The business of purchasing and collecting accounts receivable.

Non-Recourse – Generally, a period in which accounts purchased by the factor remain the factor’s accounts and do not revert to the account creditor if unpaid due to an insolvency event. The factor accepts full credit risk for any and all accounts that it purchases during this period.

Recourse – Generally, a period in which accounts purchased by the factor are able to revert to the account creditor if unpaid due to an insolvency event. The client accepts full credit risk for any and all accounts that it sells to the factor during this period.

Reserve – Amount of money that is not immediately provided to the company factoring its accounts receivable when the account is purchased by the factor, expressed as a percentage of the total invoice amount.

Reserve Release – A bonus paid back to you as a result of prompt paying of receivables by your customer. (Advance Rate + Reserve = 100% of Total Invoice) The Reserve, minus the discount fee, is transferred to the client once payment is received by the factor.

Click here to learn more factoring terminology.

Staffing World 2009 Kicks Off Today

The American Staffing Association’s annual Staffing World Conference begins today and runs through October 23. Held at the Orlando World Center Marriott Resort, Staffing World 2009 has a slew of opportunities for all kinds of staffing agencies.

The event kicks off with a Keynote address on Wednesday by Joe Calloway (sales, marketing and branding consultant), in which he’ll share the results of his research and analysis of the staffing and recruiting industry.

In addition, there will be a multitude of industry-specific workshops, including a healthcare staffing learning track.

Click here for more information on the 2009 ASA Conference.

Temp Nurses Needed to Administer Swine Flu Vaccine

Here’s a brand new niche that temporary nurse staffing agency owners should jump on right away…As the H1N1 vaccination becomes available, healthcare facilities across the U.S. will need additional personnel to handle the projected influx of people who want to receive the vaccine.

An article on WMTC-TV’s web site quoted Yvonne Madlock, Director of the Memphis and Shelby County Health Department: “Our goal in the next several weeks is to identify a pool of nurses that can work with us to assure we have an adequate number of vaccinators available.”

Click here to read the rest of the story: Nurses Needed to Help Deliver H1N1 Vaccine in Memphis.

CA Facing Allied Health Shortage

According to a report issued by The California Wellness Foundation, by 2030, the state of California will need 988,000 allied health professionals.

Similar to the nurse faculty shortage, the allied health workforce is experiencing problems with retaining educators because instructors get paid more money to work than to teach the profession. In addition, California’s state budget crisis is reducing the systems’ ability to offer classes due to high equipment and material costs.

There is one positive note…About half of the allied health professional jobs that will be required in the state by 2030 are entry-level positions, meaning a high school education is all that’s needed.

For all those allied health staffing agencies out there, it sounds as though CA is a good place to start marketing your services.

Click here to read the entire article: Dire Shortage Seen in Allied Health Professionals.

2009 National Staffing Employee Week

The American Staffing Association (ASA) has estimated there are 2.7 million temporary and contract employees who work for staffing firms in the U.S. every day.  To honor these workers, from September 14-20, is a week devoted to them.  There will be planned luncheons, banquets, and office parties throughout the week.

The ASA has given some tips on how to improve your event this week.

  • Place thank-you stuffers inside check envelopes
  • Give out award certificates to all of your employees
  • Send thank-you postcards to clients to thank them for their business
  • Spread the word about your event by sending a press release to your local media

Materials for the tips listed above can be found at americanstaffing.net.

Staffing Industry Growing as U.S. Comes Out of Recession

According to the American Staffing Association (ASA), the demand for temporary and contract workers increased significantly from July to August.  After 35 years of the ASA collecting data at, analysis shows that temporary help employment growth and gross domestic product is strongest when the economy is coming out of a recession.

Since the end of June, the index has grown in seven consecutive weeks (the longest consecutive growth in 21 months).  It is at its highest level this year despite being down overall from June 2006.

The index is evidence that the recession is close to being over.

To get more information about the ASA Staffing Index, go to americanstaffing.net.

Travel Nurses: Where to go on next Assignment?

Nurses across the country are ending their summer stays on assignment and are looking for employment elsewhere.  The following five states have the highest demand for nurses and are great examples of places to explore while on the job. 

California: The weather here is intriguing; you could place yourself in snow or sun in the winter depending on where you choose to go.  It is estimated that CA will need about 300,000 RNs by 2016. 

Florida: The opportunity for RNs in this state only goes up over time.  Much of the population consists of 65 and older, however its exciting cities and nightlife are very appealing.  No snow here, either.

New York: This state speaks for itself, and will also be in great demand for RNs over the next decade.  There are plenty of interesting and fun things to do in the city.

Ohio: By 2016, 130,000 RNs will be needed in the Buckeye state.  Ohio has three major metropolitan areas including Cleveland, Columbus, and Cincinnati.  Cleveland’s professional sports teams and remodeled downtown should attract many RNs.

Pennsylvania: Currently, there are 17,000 health care workers needed throughout PA.  Philly and Pittsburgh are two cities with extraordinary historical sites. 

The whole country is currently running on a shortage of RNs.  These five states would be great for traveling nurses, but they should not be limited to these five.

Tough Road Ahead for OH Nursing Homes

A recent article in the Columbus Dispatch explained why nursing homes throughout Ohio are in for some difficult times.  A majority of the 958 skilled nursing homes in the buckeye state will have to adjust to an atypically unfavorable state budget over the next two years.  The budget, signed by Governor Ted Strickland on July 17, will enforce an increase in the bed tax on nursing homes.  Industry officials estimate it will cost nursing homes $184 million in the next two years, or $200,000 per home on average.  According to these officials, it will also mark the first time that nursing homes will pay more in fees than what Medicaid reimburses them. 

Some facilities across the state are expected to merge due to cost-constraints, while some are expected to completely close their doors.  The ones that stay open will have to cut costs and most likely will lay off workers, significantly lowering the quality of patient care. 

Medicaid has always favored nursing homes.  In fact, nursing homes are the only provider of Medicaid for which automatic increases in payments are written into law.  However, the miserable economic climate in Ohio won out as the state desperately needs more tax revenue. 

In addition, nursing homes will soon pay a considerably higher franchise fee of $11.95 per bed each day, up from $6.25.  This revenue, expected to be upwards of $760 million, will contribute to federal matching Medicaid funds. 

The article also reported that the increasing amount paid per patient by Medicaid to nursing homes is misleading ($176.42 per patient this year and $176.46 per patient next year), because a total of $9.61 is earmarked to go towards ancillary care and the work force development incentive payment.  This means that although the amount paid by Medicaid to nursing homes will increase $0.04 in the next two years, in reality it will decrease by $9.57 due to the earmarks.  Out of the $9.61, $5.70 will go towards raising wages.  However, most nursing homes feel that raising wages to some comes at the expense of firing other employees.  Some hospitals refuse to use the money in this way.

To read the entire article from The Columbus Dispatch, click here: Nursing homes take a hit

MD Trying to Prevent Nursing Shortage

Washington Post staff reporter, Rick Rojas, recently wrote an article documenting the incredible efforts going on in Maryland to increase the number of nurses as well as nursing educators.  The Maryland Hospital Association plan to give $15.5 million over the next five years to 17 MD nursing schools to increase the number of students they can accept in their programs, which should also increase the number of nurses in the state.  The grant money will be coming from a number of sources, but mainly from healthcare providers, insurers, and individual donors all worrisome over the inevitable nursing shortage. 

The number of patients filling doctors’ offices is growing at an alarming rate in MD.  Catherine Crowley, VP of the Maryland Hospital Association, explains that with life expectancies going up due to more healthy and active citizens, Maryland will need 10,000 more nurses than it currently has in order to meet the needs of patients. 

According to Nancy Fiedler, a spokeswoman for the Maryland Hospital Association, the average age for a nurse in MD is 47, and about 43% of all nurses plan on retiring sometime in the next three years.  Crowley says the problem is further developed when approximately 1,000 qualified nursing school applicants are turned down each year due to inadequate faculty numbers and classroom space. 

Crowley estimates that about 360 more faculty members are needed in MD nursing school programs.  The schools also have to buy upgraded medical technology and new laboratories.  Since the distribution of monies has been announced, Montgomery College, one of the recipients, already has plans in place to invest their piece of the pie into three new laboratories. 

To read the entire Washington Post article, click here: Preventive Medicine for A Shortage Of Nurses

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