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In-house vs Outsourced bank
Finding the right solution
Running an effective Bank is complex. Some Trusts build in-house teams to grow, deploy and manage flexible workers. Others work with NHS Professionals to outsource this task, saving time and money in the process.
Our experience of working with over 100 Trusts in England has suggested that many costs of an in-house bank are hidden. Some of these include the costs of 24-hour support services, duplicated back-office functions, HR and Payroll support, IT infrastructure and more.
We believe that an outsourced, fully managed service consolidates many of these costs, instead offering the commercial certainty of a monthly managed service fee, and transactional charges for each shift filled. This drives down costs through increased efficiency, without reducing staffing numbers on the front lines.
Our experience also suggests that an in-house Bank may incur higher pay charges than an outsourced solution. At a time when every piece of NHS expenditure is being scrutinised, saving up to £19.00 per shift per worker on employer’s National Insurance contributions alone means more funds can be diverted to patient care.
Key benefits of outsourcing for your NHS organisation
- ✔Efficiency: Economies of scale, transactional and transparent price models, and savings generated by not having to procure new systems for your Trust
- ✔Scalability: An out-sourced Bank scales on demand, and NHSP offer a true 24/7 service to answer all Bank Member enquiries without increasing your headcount
- ✔Expertise: Access to dedicated talent acquisition, marketing and agency management functions mean that the best candidates are surfaced for you
- ✔Innovation: Market insight, leading-edge technology solutions and investment in Bank Member career pathways, all at no additional cost to you.