Why is the current freelance healthcare staffing model in need of an update?

There is a massive and growing practitioner shortage in the healthcare industry. More specifically, there are so many metro areas that are saturated w/ providers, while many suburban and rural areas are suffering every day.

Freelance practitioners are often hired to relieve shortages like this, but the current staffing supply chain is often slow and expensive. Medical practices often pay high agency markups and sacrifice an estimated $7500 per day due to onboarding delays. Furthermore, over 50% of physicians report burnout, and patients ultimately suffer.

How has Hyr Medical reinvented the freelance staffing model?

Hyr Medical solves the freelance staffing problem; we've built a web-based marketplace that significantly reduces the number of process steps and overhead costs. We enable direct connection and communication between providers and medical practices, automate portions of the credentialing process, and provide upfront transparency into rates and practice locations. In addition, our technology automatically alerts both providers and medical practices of matching opportunities! The result: faster credentialing, lower costs for medical practices, significantly higher rates for providers, and a system that attracts and rewards quality, freelance providers. Check out our 1-page Value Prop

Why should providers and medical practices join Hyr?

At Hyr Medical transparency is key. For providers, this means you’ll immediately see the practice location and rate of pay on the job posting. For medical practices, this transparency means you know who is applying and exactly how much you will be invoiced (20% flat markup on provider rates; $10k flat freelance-to-permanent conversion fee).

In addition, Hyr (on average) charges medical practices lower costs and provides practitioners w/ higher rates. This is possible due to our low overhead, digital model. Providers and medical practices also choose Hyr because we apply technology and simplified processes to reduce credentialing cycle time. Providers get to work faster and medical practices reduce shortages and revenue loss, and improve patient care.

Check out our 1-page Value Prop and Explainer Video for more information!

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Is joining Hyr Medical FREE for providers and medical practices?

Yes! Joining Hyr is always FREE for both parties. Providers can complete their profile and search all jobs and medical practices can post an unlimited number of freelance, permanent and telemedicine jobs on the Hyr marketplace.

Can physicians, NPs, PAs and CRNAs join Hyr Medical?

Yes! We have opportunities for a large number of healthcare professionals. Hyr Medical started in 2018 with a focus on physicians. In 2020, we expanded the marketplace to include NPs, PAs and CRNAs.

What is the "travel lump sum" and why does Hyr offer this?

The travel lump sum is an allowance given to the provider after each assignment. It is calculated based on the distance between the provider's residence and the location of clinical work performed. The lump sum rates are set slightly higher than industry average and cover travel expenses for the majority of assignments.

Providers have the freedom to plan and arrange their own travel. No receipts to scan, review and process for either party. This saves time and money. The travel lump sum is one of many ways in which Hyr reduces overhead costs, and in turn offers higher average rates for providers and lower rates for medical practices.

Does Hyr Medical provide medical malpractice insurance coverage?

Yes. Hyr covers its 1099 contracted providers with our A++ rated MedPro (Berkshire Hathaway) med-mal policy. Coverage limits are aligned with state requirements and tail-coverage is provided. In some cases, the medical practice may prefer to provide its own coverage instead of accepting Hyr Medical's policy.

Are providers on the platform Hyr's 1099 contractors?

Yes, and upon completion of the calendar year, providers will recieve a 1099 form.

How are freelance provider rates set on Hyr Medical?

Rates are ultimately set by the medical practice. However, Hyr Medical does collaborate with the medical practice by providing benchmark rates to ensure that rates are competitive and high enough to quickly attract high quality, freelance providers. Note that rates on job postings are always transparent; they are displayed upfront on Hyr, along with the exact practice location. This is part of our Hyr Provider Bill of Rights. We believe that providers and medical practices should be able to set rates without haggling and wasting time.

What is Hyr Medical's overarching vision and mission?

Our Why: Create a world in which space and time are no longer barriers to providing and receiving quality healthcare Hyr Medical's vision is to fundamentally transform and modernize the online healthcare staffing industry and enable an elastic, responsive and on-demand workforce. We are shaping the healthcare "freelance economy" by offering more lifestyle choices for healthcare providers and more staffing flexibility for medical practices. Below are the most common personas represented in Hyr's provider network:

How does Hyr Medical make money?

Good question! Joining the platform is always FREE for both providers and medical practices. Hyr only makes money when a provider completes an assignment at a medical practice. Hyr invoices the medical practice (net 30 days) and pays the provider (within 30 days of assignment completion). Our 20% markup on the provider's rate represents Hyr's net revenue. Example: If the provider's rate is $200/hour, then the medical practice is invoiced $240/hour by Hyr Medical. The $40/hour difference is Hyr Medical's net revenue.

What is Hyr Medical doing to reduce credentialing time and waste?

This is an enormous issue for providers and medical practices. The short answer is that Hyr leverages numerous data partnerships and applies web-technology, automation and streamlined processes to significantly reduce the time required for credentialing. Our staff prepares documents on behalf of providers and electronically sends documents for review and signature. Final documents and artifacts are then sent to the medical practice. Hyr Medical has also formed a partnership with Axuall ( www.axuall.com) to leverage its blockchain-based credentialing and verification network to eliminate the wasteful practice of revalidating provider information. This will result in a significant reduction in credentialing cycle time. We have conducted early pilot activities with Axuall and believe that digitial credentialing (built on the blockchain) is the future for the staffing industry. For more information on Axuall visit: https://www.axuall.com/press

Is there an exclusivity period for providers that work thru Hyr Medical?

No. However, if a provider is presented to or works at a medical practice via Hyr, a period of 12 months must elapse in order for the medical practice to directly contract or employ the provider. If the medical practice wishes to break this 12-month window, they will need to pay Hyr Medical a low $10k conversion fee.

What is the difference between a "locum" and "freelance" provider?

Locum is a Latin phrase that means "place holder." The practice started in the 1970's and was designed to relieve shortages resulting from sickness, vacation, maternity leave, etc.

Now fast forward 50 years! We live in a world where private practices are purchased every day by large health systems. Where "hanging out your own shingle" and being a "clinical entrepreneur" is now difficult, if not impossible. Many providers now yearn to regain flexibility and own when, where and how they work. And they don't necessarily want to be "place holders"... they want to be freelance providers. They want to freelance for a living, as a profession. This article provides more information regarding the transition from "locum" to "freelance": https://spendmatters.com/2015/12/02/the-state-of-temporary-physicians-and-healthcare-contingent-workforce-management-an-innovators-dilemma-part-1/

In fact, this trend is cutting across all professions. As of 2019, over 55 million Americans are members of the large and fast-growing freelance economy.

How long does it take to start working at a new medical practice?

This varies from practice to practice, but in general, once all your application materials are completed and artifacts collected (2-4 weeks), Hyr will submit the final credentialing package to the medical practice. The medical practice, based on their internal process and bylaws, will submit your file for privileging (4-8 weeks). Through our partnership w/ Axuall, we continue to pilot digital credentialing approaches to dramatically reduce this credentialing cycle time.

Why is it important to 100% complete my profile on Hyr Medical?

When you first create your free account on Hyr, your profile is only partially complete. You can browse all jobs on the marketplace, but you can't apply. Completion of your profile to 100%, which only takes 5-10 minutes, enables you to apply to jobs and notify medical practices of your interest. In addition, you'll want to upload a current CV to allow the medical practice to start reviewing your information.

Does Hyr reimburse the cost of new state medical licenses?

Yes. Hyr Medical will reimburse you for those costs if it's a state that you're not licensed in. The reimbursement will ONLY occur after you complete your first shift with Hyr Medical at the new medical practice.

Who can see my profile and how is my information protected?

Your profile is hosted on our encrypted, cloud-based servers. Only you, the medical practices, and Hyr Medical can view your profile. See our privacy statement for more information.

How do I schedule a shift or assignment via Hyr Medical?

Hyr's online platform enables providers and medical practices to directly connect. Once privileges have been granted with the medical practice (and sometimes sooner) you will be able to schedule shifts by directly communicating with the medical practice. Hyr Medical will then provide a confirmation letter for both parties to electronically sign.

How does Hyr Medical manage the provider credentialing process?

Once a provider applies to a job, completes an e-background check via Hyr and is accepted by the medical practice, they will securely upload and store their credentialing documents (medical license, merit badge certificates, diplomas, etc.). We will request and complete the medical practice applications, payor enrollment forms, and any other required documents. We will also leverage your CV, CAQH, NPDB, and other data sources. We will then alert the provider via email to electronically review and sign the documents. The final credentialing package will then be submitted to the medical practice.

How and when are providers paid for completed assignments?

Excellent and important question! Compensation for completed assignments, which includes clinical work and travel lump sum allowance, are direct deposited into the providers designated bank account. Payment is made within 30 days of assignment completion.

Will you call me after I join and will I receive match emails and notifications?

As a company founded by clinicians, we know your time is valuable. We will not call or text you (see "Provider Bill of Rights" below). You will receive emails (usually system generated ones regarding jobs you match for or the status of jobs you've applied to) and push notifications if you use our iOS or Android mobile app. We will only call or text you if you are going through the credentialing process with a medical practice. Please refer to Hyr's Provider Bill of Rights below.

How does Hyr manage the invoicing process with medical practices?

When a provider is scheduled for an assignment w/ the medical practice, Hyr Medical will send a confirmation letter to both parties for electronic signature. Once the assignment is completed, Hyr will invoice the medical practice. The invoice will include both the fee for clinical services and the travel lump sum. Payments terms are net 30 days.

What can medical practices do to further reduce staffing cycle times?

Once you have accepted an applicant to begin credentialing, timely communication is critical to ensure the shortest overall cycle time. We will follow up with you regarding interview setup (if needed) and credentialing documents. Also, please let Hyr know if you need to make any updates to the job posting.

How is information provided to Hyr Medical for job postings?

Once you are a client, we will provide you with a simple online form to complete. Alternatively, you can email us the information in an existing format. It typically takes 5-10 minutes to complete the information and send it to Hyr Medical. You can then view the job posting by logging into your facility rep account on app.hyrmed.com.

Is Hyr's medical practice agreement really only 1 page long?

Yes! We believe in transpareny, simplicity and speed. We don't hide behind legal jargon and want to ensure you fully understand how Hyr Medical can work for you.

What is Hyr Medical's "freelance-to-perm" conversion fee?

$10k flat freelance-to-permanent conversion fee. We keep this fee very low to encourage the use of freelance providers prior to making full-time hiring decisions.

How does the medical practice gain online access to Hyr Medical?

Once the 1-page agreement is finalized, we will provide the medical practice with one or more facility rep accounts on Hyr. The facility rep is generally the recruiting manager who reviews job applicants, accepts/declines applicants to start credentialing, reviews/monitors posted jobs and browses and connects w/ physicians on the Hyr platform. Hyr also relies on the facility rep to notify us to update or remove certain posted jobs.

Confused about the Hyr Medical platform?

Watch our Explainer Video and schedule a 15-min Demo to learn more about the platform and how we can help you!