Medical Temp Staffing; specifically nurses at SNF facilities
May 02, 2024
by a searcher from Pomona College in South Kingstown, RI, USA
Considering acquisition. Anyone with industry experience or knowledge willing to jump on a call? I'd be very appreciative :)
from University of Pennsylvania in San Francisco, CA, USA
from Washington and Lee University in Baltimore, MD, USA
> make sure you get monthly accrual based financials (need to see the trends as temp nurse staffing has taken a beating)
> try to understand the CFs of the business (they typically have weekly payrolls and slow collections cycles)
And here is my list of agency / staffing questions specific to this space:
Who are your current customers? What contracts do you have? Direct vs. MSP? What is your split in terms of hours between the two? What types of facilities do you staff? What positions do you staff? Can you easily pull down a list of open requisitions? Are you JCAHO certified? What states are you licensed in? How did you obtain / manage those licenses? How do you structure your travel contracts? Calculate and verify M&I / housing stipends? Adjust based on hours worked? Why are you looking to sell? Owner’s role in the business? Who does the books? Any outside consultants or contractors? What is the composition of your admin team? Contractors? Overseas? How do you recruit new staff? Channels? Recruitment budget? What has worked well? Not worked well? How are you doing Business Development? How is your AR? Are your customers good payers? Or is it a slow turn around? Can the business be run remotely? Need any physical presence? Do you have any state licenses? Are your staff benefitted? 401k? Etc.? Ie. Why choose you vs another agency? What type of CRM do you use? What are your revenues? What are your billed hours per week? What are your hourly margins on staff alone? What are the following breakdowns? Estimates? % Breakdown/Mix of staff /rev by discipline: RN, LPN, CNA, Allied etc. % Breakdown/Mix of clients by Type: Acute, Post Acure, SNF, etc. % Breakdown/Mix of services: Per Diem, Contract, Travel; Perm