Despite tough market, healthcare firms shine on fastest-growing list
Healthcare Staffing Report
Main article
In an environment of lowered client demand, focus on cost management and near-term cautious outlooks on the part of clients, the healthcare staffing industry has contracted for the second year in a row, according to SIA’s US Staffing Industry Forecast: September 2024 Update. SIA estimated the healthcare staffing industry contracted 22% in 2023 and projects a 19% decline this year driven by a handful of overarching factors including a pullback from unsustainable employment levels, lower bill rates and a smaller pool of available clinicians. This downturn has brought pain for healthcare staffing firms that in many cases have had to cut back operations and lay off staff. In spite of this, several healthcare staffing firms feature prominently in SIA’s 2024 Fastest-Growing Staffing Firms list.
In order to qualify for SIA’s Fastest Growing Staffing Firms list, companies needed at least a 15% compound annual growth rate between 2019 and 2023. The firms on the 2024 list had a median compound annual growth rate of 28.1% between 2019 and 2023 based on US staffing revenue.
Standing Out
Notably, nine out of the top 10 fastest-growing staffing firms are from the healthcare sector — seven travel nurse firms, one allied firm and one travel nurse and allied firm. Overall, healthcare firms accounted for 43% of the 145 staffing companies on the complete list.
As the healthcare landscape evolves, healthcare staffing firms are looking for ideas and resources to help them meet demand, increase talent pools and gain a competitive advantage in the market. Healthcare executives interested in the latest perspectives and information on trends related to healthcare staffing — from nursing to locum tenens to allied health, and more — are encouraged to attend SIA’s Healthcare Staffing Summit. This year’s conference will be held in Arlington, Texas.
Keynote speakers include SIA’s Chief Analyst, Barry Asin and The Honorable Alex M. Azar II, 24th US Secretary of Health and Human Services. Barry will provide a comprehensive, research-based overview of the current landscape, highlighting the significant shifts and new developments firms need to navigate healthcare staffing successfully, while Azar will shed light on the direction of healthcare based on who has won the presidency.
Connect with industry peers, learn about the rapid acceleration of technologies and solutions available to the industry, and be inspired by leaders and experts who are transforming the field. More information of the agenda, speakers, sponsors, and registration can be found at SIA’s Healthcare Staffing Summit website.
