Allied Healthcare Professional Revenue and ROI Report
As these numbers indicate, the net investment gain after contingent costs over 13 weeks approaches three quarters of a million dollars for cath lab technologists on the high end and approximately $4,000 for general sonographers on the low end. In each case, however, a net gain is achieved while services are being maintained, which, in turn, may generate indirect revenue from radiologists, surgeons and other types of physicians. Over a six-month period, net gain exceeds $100,000 in all but two specialties (echo cardiographer and general sonographer) and exceeds $200,000 in 9 of the 16 specialties listed. Over a one-year period, net gain exceeds $1 million in four of the 16 specialties and approaches $3 million for cath lab technologists. OPPORTUNITY COSTS The analysis above demonstrates the revenue that may be gained by the use of travel allied radiology and rehabilitation professionals. By extension, it also implies the revenue that may be lost by not having travel or permanent allied professionals in place. The opportunity cost can be as high as $2.8 million a year for a cath lab technologist to a low of $15,000 per year for a general sonographer.
PERMANENT VS. CONTINGENT ALLIED PROFESSIONAL ROI
Healthcare professionals who work on temporary assignments, whether nurses, physicians or allied healthcare professionals, are meant to be a supplement to permanent staff, not a substitute. Traditionally, they have been used to fill in for permanent staff who are temporarily absent due to vacation, illness, training or other reasons. They often can be used strategically to staff up or down as needed based on varying levels of patient demand. As this report indicates, healthcare facilities can achieve a positive return on investment when using certain contingent allied healthcare professionals. The same can be said of permanent allied healthcare professionals, who also generate direct and indirect revenue. Healthcare facilities that employ permanent allied radiology professionals, PTs, OTs and SLPs can calculate the ROI of their investment in these professionals by inserting their daily employment costs into the formula used above. Where the total cost of employing permanent professionals is comparable to using contingent professionals, ROI also will be comparable. Where it is less, ROI will be greater and where it is more, ROI will be less.
© AMN Healthcare 2024
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