How to Start a Healthcare / Medical Recruiting Firm
The health-care industry is facing a severe shortage of personnel. Many experts attribute this to the baby boomer generation reaching retirement age. Many baby boomers have already retired from the medical industry, causing hospitals to become shorthanded. Aging retirees need more medical attention than the younger generations, which also puts a strain on the health-care system. As a result, health-care recruiting services are growing at a rapid rate and are attempting to fill the void within the industry.
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Things You'll Need
- Start-up capital
- Office space
- Office equipment
- Internet connection
- Phone line
- Health-care professionals
- Health-care clients
- Business plan
- Marketing plan
Instructions
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Obtain a loan from a bank, credit cards, friends or family to cover your start-up costs. These will include money for general office expenses and advertising, as well as payroll costs. Be prepared to cover payroll for at least the firsts six months, since it usually takes time for clients to pay.
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Rent an office space and equip it well. First impressions are key in a recruiting firm so don't skimp on décor. Of course you will also need the basics: computer system, office furniture, telephone lines, printer, fax machine and copier.
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Choose a niche to specialize in, such as radiology, nursing, ultrasound, and so forth, and whether you will provide permanent or temporary placements or both. At the same time you have to decide your client base: hospitals, urgent care centers, doctors' offices, and so forth.
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Set pricing for the services that you will offer to clients.
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Create an advertising plan. Market to both job seekers and health care providers. Market and advertise your firm both online and in print to build a reputation for yourself and your firm. The firm should be recognized as a brand to be successful. A good reputation is essential and will build over time through word of mouth. But in the beginning the high quality and professionalism of your advertising will help to create a brand image.
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Thoroughly vet your prospective employees. You may want to conduct background checks. Create a contract which both the employees and clients will sign. This is a critical step, so be certain to hire an attorney to prepare appropriate documents.
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Tips & Warnings
Developing a niche for your firm will help ensure your success.
As your business expands, you will need to hire more employees. Choose people with backgrounds in human resources and business management.
