U.S. Healthcare Staffing Market Size, Share & Trends Report

U.S. Healthcare Staffing Market Size, Share & Trends Analysis Report By Service Type (Travel Nurse Staffing, Locum Tenens Staffing, Allied Healthcare Staffing, Per Diem Nurse Staffing), And Segment Forecasts, 2020 - 2027

  • Published Date: Apr, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-3-68038-500-7
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 100

Report Overview

The U.S. healthcare staffing market size was valued at USD 17.0 billion in 2019 and is estimated to expand at a CAGR of around 5% over the forecast period. Some of the factors responsible for the market growth are increasing demand for temporary staffing for healthcare professionals due to the rising geriatric population and lack of skilled nursing staff across the country.

An increase in life expectancy has led to a rise in the geriatric population. According to the National Institutes of Health, the number of people aged 65 years and above in U.S. is projected to nearly double from 48 million to 88 million by 2050. An aging population is expected to have a significant impact on healthcare delivery because they are highly susceptible to lifestyle diseases and chronic conditions.

U.S. healthcare staffing market

According to a report published on the National Center for Biotechnology Information, there will be a shortage of physicians and nurses in U.S. in various health specialty fields. Moreover, according to the Bureau of Labor Statistics (BLS), over the next decade, approximately a million new nurses would be required to fill the vacancies resulting from retiring nurses and to meet the increasing demand.

Technology is currently one of the major drivers for increased healthcare employment. Advancements in healthcare have led to various innovations, such as medical informatics and telehealth, which have increased the need for the skilled labor force to handle both technical and non-technical aspects of these devices. Hence, recruitment of new professionals along with training of existing ones has become essential.

According to a study published by the Center for Connected Health Policy, the number of telemedicine related legislation pieces introduced in the 42 U.S. states was 200 in 2015. The CMS is expanding Medicare coverage for telemedicine, for instance, in 2017, CMS declared reimbursement to Remote Patient Monitoring (RPM) service providers. These factors are anticipated to boost the demand for healthcare staffing for home healthcare.

Service Type Insights

Based on service type, the U.S. healthcare staffing market has been segmented into per diem nurse, travel nurse, locum tenens, and allied healthcare. In 2019, travel nurses held the majority of the market share in terms of revenue in 2019. On the other hand, the locum tenens segment is anticipated to grow at the fastest rate during the forecast period. The locum tenens segment had the highest penetration because hospitals and clinics prefer locum tenens in peak seasons, in the absence of permanent physicians as they are more cost-effective. Furthermore, physicians also prefer to work as locum tenens due to short-term assignments, to get varied clinical experience, flexible schedules, and travel opportunities.

Physician shortage in the coming years is likely to drive the healthcare staffing market over the forecast period. According to the Association of American Medical Colleges, the U.S. could face a shortage of 150,000 doctors in the next 10 to 15 years. Long-term growth of the segment is expected to be fueled by the aging population, the increasing shortage of physicians, and the availability of healthcare insurance to most of the citizens.

U.S. healthcare staffing market share

AMN Healthcare; CHG Management, Inc.; Locum Tenens USA; and Adecco Group are some of the major players operating in the locum tenens segment. Hospitals, clinics, and outpatient centers face both last-minute and temporary staffing needs due to vacations, staffing shortages, and unscheduled absence. Hence, the need for locum tenens is expected to grow further in the coming years.

U.S. Healthcare Staffing Market Share Insights

The major players in the market include Almost Family; AMN Healthcare; CHG Management, Inc.; Cross Country Healthcare, Inc.; Envision Healthcare Corporation; inVentiv Health; Maxim Healthcare Services, Inc.; TeamHealth; and Adecco Group. The market is fragmented in nature and thus acquisitions and collaborations remain the key strategies being adopted by market players to increase their market share.

Aequor Healthcare Services (Aequor), a healthcare staffing and solutions company, acquired Locum Connections, LLC in June 2019. The acquisition will help Aequor to grow in the Nurse Practitioners/ Advanced Practice Providers (NP/APP) and physicianlocum tenens space. In January 2017, Travel Nurse Across America acquired Trinity Healthcare Staffing Group to increase its share in travel nurse staffing industry. In December 2018, Cross Country Healthcare acquired American Personnel, Inc. to expand its geographical reach in U.S. Through this acquisition, Cross Country expanded its presence in the northeastern region. In October 2018, Medicus Healthcare Solutions, LLC entered into a partnership with Beecken Petty O’Keefe & Company (BPOC) to meet the growing demand for physicians on a temporary basis from various healthcare facilities across the U.S.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Million & CAGR from 2020 to 2027

Country scope

U.S.

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

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Segments Covered in the Report

This report forecasts revenue growth at country level and provides an analysis on the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the U.S. healthcare staffing market report based on service type:

  • Service Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Travel Nurse Staffing

    • Per Diem Nurse Staffing

    • Locum Tenens Staffing

    • Allied Healthcare Staffing

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