The True Cost of a Virtual Assistant
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Originally Posted On: https://mymountainmover.com/the-true-cost-of-a-virtual-assistant/
Six out of ten business owners plan to hire a virtual assistant in 2022, most of them for very similar reasons. They’re intent on addressing staffing issues and keeping their operations running smoothly; but at the same time, many of them are also concerned about the ultimate cost of a virtual assistant.
While these concerns are valid, the longer they put this step off, the more they might begin to count the cost of not hiring one.
If you’re looking to hire a virtual assistant but are stressed at the prospect and concerned about the bottom line, you’ve come to the right place. We’re here to explain the whole process, demystify the costs, and put your worst fears to rest.
The Cost of Hiring a Virtual Assistant and Finding a Good One
In our experience, the question plaguing most small business owners right now is less if they should hire a virtual assistant (VA) but how they should go about doing it.
Most recognize that hiring a skilled VA would improve the quality and capacity of their services, but their main concerns are two-fold: 1) the cost of hiring a virtual assistant and 2) what approach they can take to find a good one.
The good news is that My Mountain Mover can help address both of those concerns.
Reasons for Considering a Virtual Assistant
Thinking about the reasons why you are considering virtual assistant services will help you narrow your focus in finding the right one.
Therefore, it’s in your best interests to take some time right now to think about what your business needs most at this point to move forward toward success. In other words, what’s prompting you to seek virtual assistance in the first place?
Consider which of the following factors feels most critical at this time:
- Reducing overhead costs. There is a reason why many small business owners had begun to outsource some of their more routine tasks (such as scheduling, billing, etc.), even before the pandemic led to a work-from-home revolution. Employers can save up to $22,000 per year per remote employee. That’s a big deal!
- Focusing on your core business. With a remote virtual assistant doing the heavy lifting on your administrative tasks, you and your team can better focus on your actual areas of expertise and the roles that can only be fulfilled in person. This is a win-win for everybody involved, staff and clients alike.
- Dealing with capacity/staffing issues. Capacity isn’t always about physical space. Often it’s about time. You may currently have a long waiting list or actually be turning away new patients because you’re already buried under paperwork and other tasks that could be accomplished offsite by a virtual assistant. Having an experienced virtual assistant frees you to see more patients and therefore brings in even more revenue for your practice.
- Providing better service for your customers. Good service is about high-quality interactions. If you have been distracted and overwhelmed, having a skilled and dedicated virtual assistant tending to administrative tasks on your behalf can free up your energy and attention to put it all where it matters most: on your patients.
While you may have reasons other than the ones listed here, the above list contains some of the most common reasons why health practices choose to hire virtual assistants and level up their services.
Types of Virtual Assistants and Associated Rates
There’s little doubt that virtual assistants can increase your capacity while simultaneously reducing overhead. But before you hire one, you will still want to have a general idea of exactly what type of virtual administrative assistant you’re looking for and how much you might be looking to pay per hour.
Types of Virtual Assistants
When it comes to the virtual assistant cost, hourly pay rates vary depending on location, experience, industry, specialty of work, and which platform you use.
Virtual Assistants can specialize in serving the following industries:
- Real Estate
While there are some VA services out there that will provide general “assistant” services without training their VAs in any particular specializations, you will find in the end that you’re definitely getting exactly what you pay for.
Trained and skilled virtual assistants may cost a bit more, but when you consider the overall savings you’re already experiencing by hiring a virtual assistant, the expenses will be more than offset by the benefits.
- Not having to interview and hire an employee
- Not paying payroll taxes
- No need to supply benefits
- No physical space necessary for an off-site employee
For these reasons and more, it’s generally three times cheaper to hire a virtual assistant than a full-time employee. Best of all, a remote assistant grants you the freedom to get back to work and have someone else take care of your clerical tasks.
The Cost of a Virtual Assistant
When we start talking about the practical cost of a virtual assistant, that’s where things really get interesting. There’s quite a wide range. The hourly rate VAs charge can range anywhere from super low (as low as $5/hour) to relatively high (over $100/hour).
Obviously, a range this wide is not very helpful for budgeting purposes.
That’s why, to narrow down how much you’re likely to pay for your VA, you’ll need to hone in on the type of VA you need and the level of expertise they will need to demonstrate.
Determine what factors are most important to you:
Then work these factors through a few helpful framing questions:
- What range makes sense for the quality and type of work we need help with?
- Do we need a medical VA who is HIPAA compliant, a business VA with a specialized skill, or someone for data entry? How will these needs likely affect the pay scale?
- What makes sense for our business and budget?
We’ve said it before and we’ll say it again: when it comes to virtual assistants, you’ll get what you pay for.
If you hire someone based purely on a low hourly rate (rather than on whether they are skilled/certified/qualified for what you need), you may find that instead of increasing your capacity while lowering your overhead, you’re merely spinning your wheels.
And nobody wants that. Instead, you’ll want to choose the VA that’s best suited to your specific needs—not just the one who is the cheapest available.
At My Mountain Mover, we’re able to provide higher quality personnel at lower rates by hiring our professionals from the Philippines. Sourcing VAs from the United States often come with a greater cost due to the higher cost of living, whereas VAs from the Philippines are just as skilled but cost significantly less.
What to Look for in a VA Provider
No matter the specific type of virtual assistant you’re looking for, you will always want to check to determine whether they demonstrate a few specific skills, qualities, and character traits.
Starting your search for a qualified and reliable VA can feel overwhelming. The good news is that you don’t have to do it alone.
A reputable virtual assistant service provider like My Mountain Mover can provide you with a quality VA that matches your needs and compliance levels.
VA service providers like My Mountain Mover will always
- Vet and train virtual assistants
- Make sure they are in compliance with industry-related safety and privacy laws
- Provide the remote worker with tools and resources to get the job done
In short, partnering with a virtual assistant company is the single best way to take the stress of selecting a qualified virtual assistant off you, the business owner.
But buyer, beware.
Not all VA service providers are created equally.
Here are a few details to keep in mind as you evaluate VA providers:
- Look for quality: If ratings are publicly available through Google, social media, or other consumer sites, take a look at what other customers are saying about the virtual assistant agency. But please note that most providers don’t even set up a Google review account—and that’s potentially a red flag. Do they not want a public review? And if so, why not? By contrast, My Mountain Mover is very open and honest about its services . We offer top-notch service, and we know it.
- Note client retention (or lack thereof): If customers are rotating in and out of the service like a revolving door, this could be a sign that it might not be the best place to start your VA journey—no matter how affordable the rates may seem.
- Determine whether customers are coming back for more: Companies that find great ROI on their first VA tend to invest in more VAs as their business expands. If a client invests in multiple VAs from the same service, they must be seeing excellent value.
- Evaluate what services and support are offered: Can the provider match you with a VA who meets all your qualifications? Do they check for HIPAA and/or privacy compliance? How do they treat their VAs?
Why Choose My Mountain Mover
While you have plenty of options available for hiring a VA, there are a few reasons why choosing My Mountain Mover as your provider just makes sense.
Reason 1: Consistency
Many services keep costs low by maintaining a rotating group of VAs, meaning you may have different people assisting you every day. In the end, this is less cost-effective because you have to constantly re-communicate with and/or re-train VAs.
Premium services like My Mountain Mover, however, offer you a single, dedicated VA to help build experience with your process and clients.
Reason 2: Customization
We customize job roles specific to your needs. Working with someone who is qualified to complete all necessary tasks for you and is highly skilled in your industry will ensure that you get the most out of your virtual assistant.
Reason 3: High Support
Not only does My Mountain Mover provide a dedicated account manager to guide you through the onboarding process, but we’ll also be there with you every step of the way. Throughout the life cycle of your relationship with your VA, we serve as a permanent resource for you, your business, and the VA we provide.
In addition, we always offer IT support to get you up and running.
Reason 4: Compliance
Both My Mountain Mover itself and all our VAs are HIPAA compliant.
Not only that, but our VAs sign BAA (privacy assurance), undergo rigorous security standards, and have regular system checks.
Reason 5: Retention
Here at My Mountain Mover, we value our VAs, and we demonstrate that by paying them very well. What this means for you is that while they are not the cheapest available, they offer the highest quality service.
Due to our sizable compensation and excellent support, we enjoy some of the highest retention rates in the industry. This makes us reliable, consistent, and easy to work with.
Because we’re able to retain virtual assistants over the long haul, you can rest assured that you will always have the same dedicated assistant managing your account.
Reason 6: Experience
While all businesses work differently, meaning there’s always a small learning curve for your new virtual assistant when they come alongside you, all our VAs are pre-trained and have years of experience.
You won’t be working with rookies. You’ll always enjoy the support and expertise of highly skilled professionals with industry knowledge and experience.
Learn More about My Mountain Mover Virtual Assistants
The bottom line is this: if you’re looking to reduce your overhead, relieve staffing shortages, and enjoy greater capacity in your practice, hiring a virtual assistant is the best first step in that direction.
However, that’s only true if you’re working with trained, certified, and skilled VAs.
Successful providers such as My Mountain Mover can remove the guesswork and take the stress out of hiring your first virtual assistant.
Now that you have a better idea of the cost of a virtual assistant, click here to learn more about how you can get started with My Mountain mover. We look forward to hearing from you.
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