BlueSky Medical Staffing Software Unleashes Industry-Leading Pay Package Tools in Version 5.3

Posted by Tim Teague on Wed, Aug 03, 2016 @ 10:40 PM

Nashville, TN - Aug. 3, 2016 - Industry leading software unveils its highly anticipated version featuring its groundbreaking margin calculator and advanced pay-package along with even more features

Bringing 10 years of industry experience to their latest update, Bluundefined-586896-edited.jpgeSky Medical Staffing Software releases its most advanced tools for recruiters and finance managers in the healthcare staffing industry.

As an ongoing business practice, BlueSky monitors feedback from clients and continually adds and enhances features needed in the healthcare staffing market. For the latest version, Tim Teague, BlueSky CEO and President, commented.

“In today’s healthcare staffing industry, speed to market has become a differentiator for our clients. Recruiters must be able to construct a complete pay package while on the phone with a candidate. This new system provides a quick analysis of every combination of pay rates, non-taxable payments, along with actual candidate take-home pay. The significance of this product is the underlying burden tables that automatically calculate state-by-state workers compensation, unemployment insurance, and other more granular expenses associated with any assignment. This frees the recruiter to submit candidates without the worry of margins that haven’t been carefully scrutinized automatically. The system can fix the margin and allow the recruiter to toggle back and forth with the pay rate and travel stipends, or let the margin “float” while different packages are presented. This new technology assures the recruiter of extremely accurate margins, and protects the organization from inconsistent profit from state to state.”

 BlueSky is aware that more than ever before, healthcare workers and clinicians have more choices that ever. The ability to provide accurate and fast offers to these candidates is a game changer in this very competitive environment.

Version 5.3, which includes the newest margin calculator and pay package, will be released August 11, 2016. Significant testing of the new version has been underway for last several months. New clients may take advantage of reduced fees through the first two months after the product launch. (August-September).

To take advantage of this reduced offer window, and to experience this innovative new version, please contact Polina Sologub at 615-349-1985 ext. 714.

Tags: margins in healthcare staffing, Gross Margin

Two of The Leading Reasons for Gross Margin Erosion

Posted by Tim Teague on Wed, Dec 10, 2014 @ 10:45 AM

permafrost-erosionAs discussed previously, gross margins are the fuel that drives the healthcare staffing industry. Cash flow, growth, and debt financing are all greatly impacted by the slightest change in basis points. Assuming you are in the ballpark of industry standards for pricing and pay rates, there are two items that can seriously erode the margins you have worked so hard to maintain.

These two items are rates for the unemployment tax and worker’s compensation. From our earlier example of chasing better margins, these two items can easily rob you of hundreds of basis points.

The first item, the unemployment insurance rate, is a historical figure based on claims paid through identified quarters of payroll.  Poor administration of these claims is the number one reason for unnecessary rate increases. The effective management of these claims does not mean attempting to deny a worker benefits that are rightfully due, but to protest claims that may not be valid. 

The second margin killer is the rate for worker’s compensation. Aside from safety measures that include both mandatory and internally generated policies and procedures, proper classification of workers and their work location are critical for these annual audits. It is not unusual for one classification of worker to carry a premium percentage that is several multiples of other employees with slightly different job descriptions.  If safety policies are in place and followed, the only variable that a staffing firm has control over is the proper classification of what theh employees to on their job, and where they do it.

In our next blog, we will discuss methods to keep both of these figures as low a possible.

Tags: Gross Margin

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