Healthcare Staffing Report: Aug. 21, 2014

Print

Travelers Haven delivers record low vacancy rates with comprehensive vacancy reduction — Sponsor Content

As most healthcare staffing firms know (usually because they’ve learned it the hard way), paying rent on vacant apartments can quickly turn a successful traveler placement into a costly ordeal. And with 21 percent of all booked assignments being lost according to a recent report by NATHO and Staffing Industry Analysts, finding a way to eliminate these unexpected costs is critical to healthcare staffing firms’ bottom line.

To decrease vacancy expenses, staffing firms are turning to Travelers Haven because of the healthcare housing firm’s unique program designed to backfill unoccupied apartments with traveling nurses, locum tenens and allied professionals.

The program was designed by Travelers Haven to meet the needs of their healthcare staffing partners.

Here’s how the vacancy reduction process works

When your nurse or physician quits unexpectedly, Travelers Haven places your lease into the Vacancy Reduction Exchange (an internal platform for confidentially managing client vacancies). Then, their team of territory managers uses this platform to place new incoming travelers into your vacant lease.

This process, known as backfilling, combined with a tightened rental market has delivered record low vacancy rates to Travelers Haven’s partners. And this has had a direct and immediate impact on our healthcare staffing firms’ bottom line.

With over 100 healthcare staffing firms turning to Travelers Haven for housing, the ability to backfill leases has reached new levels. In the second quarter of 2014, Travelers Haven delivered to its partners a record low vacancy rate of 1.8 percent, which translated into savings of more than $570,000.

Click on image to enlarge.

In 2014, Travelers Haven expects to save staffing firms over $2 million on vacancy expenses alone. President Elia Wallen commented: “We’re excited to be in a position to help the healthcare staffing industry reduce these unnecessary costs. There’s a clear network effect here, where every firm that joins our housing program improves our ability to backfill leases and helps us deliver more savings to our healthcare staffing partners.”

Backfilling vacant leases is not the only way Travelers Haven delivers value to its customers. Due to the high volume of housing rentals it secures and its strategic partnerships with vendors, the company is consistently able to offer rates below market value. Over the past year, while national rental rates have risen by 2.5 percent, Travelers Haven’s prices have increased by only 0.68 percent, representing a net savings of 1.82 percent for its partners.

“We saw immediate benefits once we partnered with Travelers Haven.  Not only did our housing and hotel costs decrease, but they also freed up a significant amount of internal workload.”

— Zac Crow, Manager, Financial Operations

To find out how Travelers Haven can help your firm reduce its vacancy rates and housing costs, visit www.travelershaven.com or call 877.592.9444.