On an annual basis, Staffing Industry Analysts ranks staffing companies by their revenue size as a way of identifying the key market participants. These rankings do not imply that a staffing firm with a higher ranking provides superior service or additional value to its shareholders, but rather provides staffing buyers with a market share report to expand their buyer awareness and allows staffing firms to identify potential subcontractors and partners. The report also contains a breakdown of the largest staffing firms by each segment: travel nursing, per diem nursing, locum tenens, allied and international nurse staffing. Corporate members of SIA can download the full report with the complete list of firms at Largest Healthcare Staffing Firms in the United States: 2023 Update.
Following a record-breaking year in the healthcare staffing industry in 2021, the market experienced another powerful increase in revenue in 2022, the year on which the list is based. SIA estimated that 103 firms generated $50 million or more in US healthcare temporary staffing revenue in 2022. Added together, these firms generated $61.7 billion in revenue, accounting for 90% of the market. This is up 57% from the $39.2 billion reflected in last year’s report. The new report also identifies 30 firms who were not featured in last year’s report.
The five largest healthcare staffing firms accounted for 37% of the market share and the 10 largest accounted for 52%. This represents an increase from the 33% and 48% levels observed in 2008 when SIA started tracking these metrics. Since 2013, we have seen a steady increase in market share among these firms eventually reaching a peak in 2019. This growth stems from both business expansion and acquisitions and highlights a degree of market consolidation that mimics long-term trends of consolidation among healthcare providers.
One factor that is driving growth at some of the largest healthcare staffing firms is the adoption of platform technologies that are able to offer efficiencies in time-to-fill and candidate reach. In 2022, US healthcare staffing platforms reached a scale of $15.3 billion, an 80% year-over-year increase. Over the past two years, the share of the US healthcare staffing sector attributed to platforms has nearly tripled to 28% from 10%, according to SIA. The platform model offers clients a modern, self-service experience with minimal human mediation, simplifying client orders and automating matching, skills assessments, onboarding, scheduling, time tracking and payroll. For more insight, corporate members can read the Temporary Staffing Platform Update: 2023.
Overall, we believe our report on the largest healthcare staffing firms provides a better sense of the healthcare staffing industry as a whole. This healthcare staffing insight will assist firms in better understanding their market-share performance in specific segments. The largest healthcare staffing firms list can also be used to analyze the landscape in which healthcare staffing firms are operating, including targets for potential acquisitions. Corporate members of SIA can download the full report with the complete list of firms at Largest Healthcare Staffing Firms in the United States: 2023 Update.
