What will my savings be? Every situation is different. NSI will work closely with you to develop and “fine-tune” your estimates. Then we will assist you by calculating your Return-on-Investment.
Generally, for every 30 nurses that an employer hires using NSI, that employer should realize between $1.8 and $2.3 million saved, net of replacement salaries and benefits. This is possible because (1) expensive contract labor is reduced, (2) the retention rate improves, (3) overtime is reduced, (4) workers’ compensation costs are reduced and (5) you have more open beds. NSI experience indicates that the Return-on-Investment versus fees paid to NSI ranges, on average, from 197% to 1,187% and is repaid in as little as 4.75 weeks to an average of 24 to 28 weeks depending upon:
- Current labor expenses for your institution
- Loss of patient revenue due to inability to staff beds
- Costs of contract labor
Then there are the intangible returns: improved customer service; improved employee morale; declining callouts; the stability of lower turnover and a continuum of care compared with contract labor.