Staffing Industry Analysts, in partnership with the National Association of Travel Healthcare Organizations, conducts the SIA NATHO Travel Nurse Benchmarking Survey on an annual basis. SIA performs these surveys as an independent third party and invites staffing firms to submit their annual revenue and other travel nurse metrics including hours billed, hourly wages, gross margin and fall-off rate, among other data. For the first time in 10 years, the survey results reflected contraction in the travel nurse market. The full results of the survey were provided directly to participating staffing firms, but selected key findings can be found here:
- In aggregate, travel nurse revenue among survey participants decreased 33.4% in 2023 as compared with 2022.
- The average travel nurse bill rate was $106.78 in 2023.
- The fall-off rate, the rate at which weeks were booked but subsequently canceled, rose to 21.4% in 2023 from 19.7% in 2022.
- Median year-over-year revenue growth among participants was projected to decline 41% in the first quarter of 2024 compared to the first quarter of 2023.
In addition to the annual Travel Nurse Benchmarking Survey, NATHO commissioned SIA to analyze historical travel nurse benchmarking data to understand trends in traveler pay and pricing. This report was based on travel nurse staffing data submitted to SIA for years 2018 through 2023 as part of the annual Travel Nurse Benchmarking Surveys. SIA corporate members can read the full report at SIA NATHO Historical Trends Report: 2018 to 2023.
Companies interested in participating in next year’s travel nurse benchmarking survey should contact Crystal Fullilove, healthcare staffing analyst, at crystal.fullilove@staffingindustry.com.
SIA corporate members interested in a deeper dive into the market dynamics of the healthcare staffing sector — including widespread workforce shortages, increased utilization of contingent workers, and increased burnout and financial pressures — can read the US Staffing Industry Forecast: March 2024 Update.
