External Risks And Associated Factors For Nurse Staffing Companies

3123 words - 13 pages

External Conditions and Associated Risk Factors
Sarah A.T. Harris

HiNursing
Hawaii Nursing LLC (HiNursing) is a nurse staffing company that operates under HiHealthcare, which is a subsidiary of The Hawaii Group family (HiGroup). HiNursing is a legacy of Scott Craun, RN and the company he started, Island Nurses, which was acquired by HiGroup on December 1st, 2012 (Silverstein, 2012). The company provides registered nurses (RN), certified nursing assistants (CNA), and medical assistant (MA) positions statewide to places like hospitals, clinics, assisted living facilities, hotels, schools, insurance companies, and correctional facilities (HiHealthCare, 2014).
A staff of six people ...view middle of the document...

The probability that the U.S. will enter a recession is high because the economy is always in a cycle of recovery or recession. Therefore, there must be minimal consequences for HiNursing to be profitable during and after a recession.
During and directly after the great recession spending in the U.S. decreased causing every business to scale back on employees. Even health care facilities had to terminate several staff members to save money, which meant they did not need the services of staffing companies as often. One nurse staffing company, Medical Staffing Network Holdings, filed for Chapter 11 bankruptcy in 2010 and was the largest provider of staffing and traveling nurses with about 19,000 field employees ( (Terry, 2010). Many of these staffing companies were faced with the difficult task of trying to place their nurses when health care facilities no longer had as much capital. Why then is it believed that health care is recession proof? Societies will always need to care for the sick and injured and we will always have periods of economic downturn that will test the limits of reasonable health care.
The consequence that the nurses faced because of the recession was that in the midst of a huge shortage they were not being hired. In April 2009, towards the end of the great recession, many graduating nurses were not being offered positions even though there were shortages all around the country (Foundation, 2009). Before this event nurses received job offers that included signing bonuses and moving expenses (Foundation, 2009). Susan B. Hassmiller, PhD, RN, the senior adviser for nursing at the Robert Wood Johnson Foundation said, “Ironically, the current economic crisis might be provoking a short-term set of changes that mask the nursing shortage temporarily, yet exacerbate it a decade from now,” (Foundation, 2009). She mentions that even though the hospitals received a slight reprieve from the overwhelming nursing shortage the long-term does not look good for nurses during another recession.
“The risk in this is that the awareness we’ve achieved nationally with regard to the need for nurses could be somewhat undone by the concern about the availability of jobs,” said Susan Bakewell-Sachs, PhD, RN, and dean of the school of nursing at the College of New Jersey (Foundation, 2009).
Thus continues a cruel cycle where no end in sight seems apparent. Nursing schools in the U.S. experienced major budget cuts and were unable to hire enough teachers in order to educate more nurses and fill the shortage. The nurses that were working at the time put in more hours and delayed retirement because their spouses had been laid off and/or their retirement accounts had shrunk (Foundation, 2009). On the contrary Altarum Institute, a health care consulting company, shared that from the beginning of the recession in December 2007 until November 2012, the health sector added 1.4 million jobs for a cumulative growth of 10.1 percent (Young,...

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