Allied health revenue down 12.8% in benchmark report
Healthcare Staffing Report
Allied health revenue down 12.8% in benchmark report
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On an annual basis, Staffing Industry Analysts conducts the US Allied Health Benchmarking Survey. SIA invites staffing firms to provide data on their allied revenue, along with other key metrics in allied health staffing — including hours billed, hourly wages and the proportion of revenue generated through managed service providers. The full results of the survey were provided directly to participating staffing firms, but selected key findings can be found below.
Total allied health temporary staffing revenue decreased by 12.8% in aggregate from the first half of 2023 to the first half of 2024. Nevertheless, revenue trends varied widely depending on the occupation. Staffing revenue related to respiratory therapists declined 43.7% year over year. On the other hand, staffing revenue related to radiological/MRI/CT technologists grew 4.9% year over year. Staffing revenue related to physical therapists grew 11.9%, and staffing revenue related to occupational therapists increased14.6%.
In terms of staffing revenue by occupation, “other allied health,” which includes phlebotomists and medical assistants among other occupations, held the largest market share for the second year in a row at 22.6% in 2024. The three largest occupations that followed were radiological/MRI/CT technologists, surgical technologists and respiratory therapists, altogether accounting for over 41% of revenue in the survey.
Imaging roles such as MRI and CT technologists experienced year-over-year revenue gains, driven in part by increased demand for diagnostic services from the aging US population. Therapy positions also experienced year-over-year revenue increases, driven in part by the aging populations need for rehabilitation services to treat conditions such as arthritis, injuries and strokes.
According to survey respondents, allied health bill rates decreased by 8.1%, from the first half of 2023 to the first half of 2024. The allied health market is stabilizing with respect to bill rates as health systems focus on returning to normal operations.
According to respondents, demand was the greatest driver of revenue in 2024 while lower bill rates were the greatest barrier to revenue growth. For more insight into the allied healthcare staffing market, SIA corporate members can read the select findings from the US Allied Health Benchmarking Survey, Select Findings 2024 report.
Companies interested in participating in next year’s allied health benchmarking survey should contact Crystal Fullilove, healthcare staffing analyst, at [email protected].