Cross Country Healthcare Inc. (NASDAQ: CCRN), a Boca Raton, Florida-based healthcare staffing provider, reported fourth-quarter revenue fell 1.9% year over year to $628.2 million. The decline was in its nurse and allied staffing segment, where revenue fell 4.7%. In Cross Country’s other segment — physician staffing — revenue surged 83.5%.

In the nurse and allied segment, the average number of field contract personnel on a full-time equivalent basis rose to 12,447 in the fourth quarter from 11,520 in the year-ago quarter. However, revenue per FTE per day was $510 in the fourth quarter compared with $582 in the fourth quarter of last year.

In the physician staffing segment, total days filled were 21,335 in the fourth quarter compared to 12,739 in the same quarter a year ago. Revenue per day filled was $1,740 in the fourth quarter compared with $1,588 in the year-ago quarter.

Cross Country announced in December that it acquired Hireup Leadership Inc., an executive search firm based in Santa Barbara, California. The company had also announced in September that it acquired Mint Medical Physician Staffing LP and Lotus Medical Staffing LLC.

“We are extremely proud of all we accomplished in 2022, from achieving our highest annual revenue and profitability in company history [see chart] to transforming Cross Country into a digitally innovative enterprise with comprehensive workforce solutions and an unwavering commitment to clinical excellence,” President and CEO John Martins said.

Guidance

Cross Country forecast first-quarter revenue of between $590 million and $600 million, a year-over-year decrease of between 25% and 24%.