Healthcare Recruiting Company leverages Armeta’s proprietary Staffing AI Solution, improving business operations and increasing bottom line revenue
Data Transformed by the Numbers
Platforms & Systems
Overview
As a leading innovator in Data Engineering for the Data Cloud, Armeta developed a cutting-edge Staffing AI technology that has revolutionized the way organizations recruit and manage their workforce. This AI technology enabled a large nurse staffing organization to enhance their recruitment processes, resulting in substantial financial gains and improved business output.
Challenges
In the competitive healthcare staffing industry, organizations face the ongoing challenge of finding and hiring the right healthcare providers to meet their staffing needs. The traditional recruitment methods often led to inefficiencies, making it difficult to identify and prioritize the most qualified candidates quickly. These inefficiencies also impact candidates, flooding them with the noise of unmatched opportunities leading to a reduced engagement and attentiveness to the recruiting entity.
Solutions
After Armeta successfully migrated and replatformed the company’s data from an on-premises SQL Server to Snowflake and enabled the company to gain immediate value from its modern data cloud, Armeta set out to implement our Staffing AI technology.
Armeta's Staffing AI technology offers a groundbreaking solution to the challenge of historical database recruitment methods. By utilizing a sophisticated predictive algorithm, this AI tool allows organizations to force rank potential candidates based on a weighted set of data points. These data points include qualifications, experience, location, and other relevant factors that are critical in the healthcare field. The Staffing AI tool also allows for ranking of Opportunities for each Healthcare provider based on data points such as compensation, stipends, location, hours, contract length and other key factors.
Armeta recognizes the difficulties and time involved in presenting opportunities to candidates who may not be the best fit. By pinpointing opportunities tailored to candidates' skills and interests, Armeta enhances their overall satisfaction with the presented needs and boosts the likelihood of their future engagement.
Results
- Increased Profit: Armeta's Staffing AI technology has played a pivotal role in increasing the profits of this staffing company. By streamlining the recruitment process and ensuring that the most qualified candidates are selected, it has led to a substantial increase in profit. Specifically, this organization has experienced a remarkable $12 million increase in profit.
- Enhanced Recruitment: One of the most significant advantages of this AI tool is its ability to identify and prioritize candidates efficiently. As a result, this organization has been able to recruit 5% more ‘new’ healthcare providers. This increase in staff has not only improved candidate market share but also contributed significantly to the bottom line.
- Revenue Growth: The enhanced recruitment process driven by Armeta's Staffing AI technology has not only increased the workforce but also identified new needs within the organizations. This, in turn, has resulted in an additional $25 million in revenue, as these new needs have been effectively addressed.
- Reduced Decline Rates: Presentations to candidates based on their FitScore has led to a 30% reduction in the decline opportunity rate. By focusing on presenting candidates with vetted opportunities that they are best suited for, Healthcare Provider satisfaction with this organization is also increased.
Armeta’s exclusive Staffing AI technology has fundamentally transformed the operations of this nurse staffing organization. Through the use of predictive AI and advanced data analytics, Staffing AI has optimized recruitment processes, bolstered profitability, and spurred significant revenue expansion. The revolutionary influence of Armeta’s AI solution and job-matching technology underscores its potential to reshape staffing practices not only in the healthcare sector but also across various industries.