Based on SIA’s November Pulse Survey covering October activity, travel nursing — with revenue up a median 21% year over year — continued its Covid-spurred growth, as the need for such talent remains high during a pandemic that has reached new levels of severity. The 21% figure was by far the highest growth among all staffing segments. Per diem nursing (4%), locum tenens (2%), and allied healthcare (1%) continued to show a more modest growth trend.
A December article in The New York Times highlights the rise in demand for travel nurses over the pandemic, and points out that the record number of hospitalizations recently, as well as the possibility of the situation getting worse over the winter, has led to a greater urgency than ever for such workers. Aya Healthcare reported that travel nurse demand increased by more than 40% in November.
These data points are reflected in the Pulse Survey: a staggering 97% of travel nursing firms reported an increasing trend in new orders over the previous three months, and 60% predicted an increasing trend in the following six months. While new orders in the other three healthcare segments have not reached the levels of travel nursing, they each predicted a greater increasing trend than travel nursing over the next six months: per diem at 74%, allied at 70% and locum tenens at 69%.
In the Pulse Survey, we asked, “If your company currently has more customer orders than available candidates, how are you helping your recruiters to prioritize orders?” Twelve of the 22 responses from healthcare staffing firms (55%) pointed to a focus on legacy/key clients or customers that have a strong relationship with the company.
A good example of this:
"We prioritize clients with whom we have the best/longest standing relationships, most favorable contract terms, most competitive bill rates, and most consistent demand/job orders."
Other insightful responses that demonstrate the various ways companies are prioritizing orders:
"We are having our reps focus primarily on a few core physician specialties rather than chasing all specialties which leaves us too thin."
"Client urgency is the first criteria with ICU and Med Surge needs taking top priority and Emergency Room needs ranking third in priority. Client need is the second criteria as measured by how quickly clients respond to submissions and bill rates."
With staff shortages faced by hospitals nationwide, healthcare staffing firms will continue to be looked upon to service the needs of patients during this pandemic.
To receive the full Pulse Survey report of results in December, staffing firms with US operations are invited to participate in the next survey here.
Corporate members of SIA can download the November Pulse Survey Selected Highlights report here.
