Cost to Hire Healthcare Developers: Top 3 Pricing/Hiring Models Explained
1 year ago
Let us first attempt to clear a few things which are crucial for you to know before jumping into the blog.
- Here, we are talking about hiring healthcare-specific frontend and backend developers from healthcare IT companies.
- The purpose of this blog is to help you understand how healthcare IT companies including SyS Creations charge for their developers. So that you can make good financial decisions.
- And lastly, this blog is written exclusively for healthcare startups, IT companies, healthcare entities and healthcare enterprises which are planning to fill internal knowledge gaps.
Okay. We now have something interesting for you.
We want you to hire healthcare developers only when you really require them. So to make it easy for you to decide whether you really need to hire healthcare developers, we have prepared this flowchart.
Hope this helps.
Now let us explain the cost of hiring healthcare developers from healthcare IT companies.
Top 3 pricing models you must know before hiring healthcare developers in North America
Here it is worth mentioning that a single pricing model does not work for everyone. Because it always depends on your knowledge gap, project scope, project complexity etc.
So, to decide the best pricing model which works for you, you must fulfill a few prerequisites such as,
- Know what your organization is lacking in terms of healthcare IT expertise
- Clear your expectations
- Discuss with your team working on the product and understand their point of view
- Set your financial boundaries
- Set your hiring standards
- Define short-term and long-term goals with new resources
- List out interview questions
- Define tentative roles and responsibilities for new resources
- Select the hiring model i.e., project-based, hourly model or fixed-monthly payment model
We are done with setting up the stage. Now, let’s begin the real show!
Model #1: Fixed project-based or project scope-based
Under this model, you hire healthcare developers from a healthcare IT company for only one project and pay a fixed amount.
This amount is calculated based on the project scope including project length. However, project length is not an ultimate deciding factor.
Let us explain this with an example for your better understanding.
Suppose, you are going to hire healthcare node.js developers for building the backend of the clinical assessment software.
So, the IT company from which you hire resources charges you a fixed amount for the entire project and it considers mainly the project scope that includes deliverables, goals and tasks.
If the project does not get completed in the set timeframe, the healthcare IT company does not charge you extra for their developers.
However, the major condition here is that you are allowed to utilize hired developers only on those project(s) for which you’ve hired them.
When to go for this model?
This model works best for you when:
- You have a defined project scope along with a timeline
- You have ultimate clarity over what you have to achieve
Model #2: Hourly-based
Under this model, the healthcare IT company from which you hire resources charges for the number of hours their developers work on your single or multiple projects.
Using project management tools such as Jira, Slack or ClickUp, they monitor and record the hours and charge every week or month.
Suppose, your hired resources work 40 hours per week on your project and if the hourly charge is $30, you need to pay $1200 per week.
Here, project scope and project length do not play a major role. The only influencing factor is the type of developers.
For example, healthcare IT companies charge a bit more for backend developers compared to frontend developers.
The best thing about the hourly model is flexibility. It offers you enough flexibility to leverage the hired developers as per your needs and on multiple projects.
It also costs you less if some uncertainty hits the project. Because you don’t have to pay anything if the developers don’t have any tasks during the uncertain time.
Overall, an hourly model is all about paying only for the number of hours your hired resources work on your healthcare project(s).
When to go for this model?
You must hire healthcare developers on an hourly basis when:
- You don’t have a defined project scope
- You have a plan to utilize developers for multiple projects
- You have tasks for developers but in a very inconsistent manner
- You have very short term requirements i.e., for less than 3 months
Model #3: Fixed monthly-based
This is the most simplified model. Under this model, you hire healthcare developers from a healthcare IT company and pay a fixed monthly fee for them.
And you keep paying the monthly fee as long as you keep utilizing hired resources on your project(s).
The major difference between hiring developers on project scope-based and fixed monthly-based is flexibility in the way of utilizing resources on projects.
Because, under a fixed monthly-based model, you have full authority to allocate developers on the number of projects you want. Whereas in the project scope-based model, you have to utilize resources on the specific project they are hired for.
Another benefit of hiring developers on a fixed monthly fee model is that you only have to track their deliverables and not hours. They work full-time for you only and you have full access to their knowledge.
However, there is one major limitation. You still have to pay the monthly fee even if you don’t have any work for certain days in a month for them.
When to go for this model?
You must go for this model when:
- You have long-term requirements i.e., for more than 3 months
- You have ongoing and consistent tasks for developers
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The most unique thing about us is our industry-specific approach. Since our inception, we have been focused on only healthcare projects.
In other words, our frontend and backend developers have only dealt with healthcare IT projects. And that’s what makes us healthcare masterminds.
Our developers know the ins and outs of healthcare and are very passionate about healthcare because they have solid reasons to work in the healthcare industry.
With their unique healthcare-centric mindset, passion and knowledge, they are capable of taking your healthcare project to the next level while working collaboratively with your internal teams.
So, let’s have a call and explore possibilities of how our healthcare masterminds can fill your internal knowledge gap!