In SIA’s June Pulse Survey, the healthcare staffing industry stood out above the rest in the midst of the Covid-19 pandemic. In fact, the four healthcare segments were the only staffing segments to record positive growth; travel nursing continued to shine at 21% median growth, followed by allied (11%), locum tenens (10%), and per diem (6%). When asked to estimate their year-over-year change in revenue in the second quarter, 23 travel nursing firms estimated a healthy 15% median growth.

However, in SIA’s July Pulse Survey, all healthcare segments but travel nursing (up 14%) were negative year over year. The volatility in healthcare staffing has been especially apparent over the last three months – April and June being months of lower or negative growth in each segment, and May exhibiting a large upswing. Despite a down month in June, healthcare staffing companies are optimistic about their future prospects. Seventy-nine percent of locum tenens staffing companies in the July survey predicted an increasing trend in new orders over the next six months. Similarly, a net 63% of travel nursing staffing firms, 63% of allied staffing firms and 47% of per diem staffing firms predicted growth in new orders over the next six months.

When asked about in-demand job titles and new job titles emerging during the Covid pandemic in the July Pulse Survey, respondents in the healthcare staffing industry provided excellent color. Eleven of the 29 responses for jobs in high demand (38%) mentioned ICU nurses. Three of the 15 responses for new job titles (20%) listed respiratory therapists.

Staffing firms provided color commentary on current business drivers, including such comments as the following:

• “The COVID response spurred significant growth (in May). As Covid goes over the next 6 months, so shall much of the healthcare staffing industry.” (June Pulse)

• “The unpredictability of the length and breadth of the Covid impact is resulting in non-traditional thinking that will impact our business heavily the remainder of this year, and will likely have impacts that will remain with us long term.” (July Pulse)

• “The transition from Covid to non-Covid needs is uncertain. There will be lost revenues as hospitals take time to rebuild census after reopening elective procedures and non-Covid wards.” (June Pulse)

The third comment covers a major talking point of the industry for the last few months: Although some areas of healthcare are thriving, many elective procedures have been put on hold. Outside of Covid, what will the business of hospitals look like in the coming months, and how will this impact healthcare staffing talent?

In a May article titled, “Healthcare Providers: Preparing for the next normal after Covid-19,” McKinsey & Co. takes a deep dive into three major shifts expected in the post-pandemic world: 1) new paradigms for infrastructure, geographic distribution of providers, and care settings; 2) operational excellence; and 3) the emergence of new growth opportunities and diversification.

For these shifts to happen, the authors note the need for further technological advancements in healthcare, more flexibility in reimbursement models, consumer trust and adoption of new care systems and environments, and regulatory changes.

In terms of staffing, healthcare segments will continue to undergo change as demand shifts to meet the needs of the current health crisis.

To receive the full Pulse Survey report of results in August and later months, staffing firms with US operations are invited to participate in the next survey here.

Corporate members of SIA can download the June and July Pulse Survey Selected Findings reports here and here.