Clinical Staffing Services Procurement Intelligence

The clinical staffing services category is anticipated to grow at a CAGR of 6.4% from 2023 to 2030. 

Given the growing need for healthcare professionals, it is now more essential than ever for healthcare organizations to collaborate with dependable staffing agencies. This partnership ensures that they can adequately fulfill the requirements of the patients. With the healthcare landscape constantly evolving, it is crucial to remain up to date with current staffing trends and best practices. Medical groups are using financial incentives to boost their workforce as staffing shortages continue to be a challenge. According to Urology Times’ June 2023 report, in comparison to the previous year, there has been an increase in the adoption of various incentives within medical groups. Referral bonuses are now being offered by 88.2% of these groups, as opposed to 82.8% in 2022. Additionally, sign-on bonuses have seen a rise, with 77.6% of medical groups providing them, compared to 69% in the previous year. Moreover, 55.7% of medical groups are implementing benefit changes, a notable increase from 41.1% in 2022.

Order your copy of the Clinical Staffing Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis 

Clinical Staffing Services Procurement Intelligence Report Scope

The Clinical Staffing Services category is expected to have pricing growth outlook of 7 - 8% (annual), with below pricing models. 

  • Full-Service Pricing, Price for services offered, Competition based pricing

Supplier Selection Scope of Report

  • End-to-end service, cost and pricing, services offered, service reliability, and scalability

Supplier selection criteria of Report

  • Credentials and accreditation, experience and track record, Staff quality, agency background check, types of services offered, and end-to-end services

Clinical Staffing Services Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

  • Market Intelligence along with emerging technology and regulatory landscape
  • Market estimates and forecasts from 2022 to 2030
  • Growth opportunities, trends, and driver analysis
  • Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
  • Porter’s 5 forces
  • Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
  • Engagement and operating models, KPI, and SLA elements
  • LCC/BCC analysis and negotiation strategies
  • Peer benchmarking and product analysis
  • Market report in PDF, Excel, and PPT and online dashboard versions 

Clinical Staffing Services Procurement Cost and Supplier Intelligence

Bill rate, taxes, insurance, recruitment, advertising, training & orientation, office space, and building rents are some of the cost components incurred in the clinical staffing services category. Bill rate generally includes salary and wages directly to the workers. Salary and wages account for the majority of the cost component ranging from 50 - 60% of the total cost for the service provider. Recruitment costs may range from around 15 - 25% of the employee's first salary. As reported by AGMA 2023 in the clinical staffing survey report, there was a 10% increase in staffing costs as compared to 2022.

Additionally, markup is the percentage of the pay rate charged by the service-providing firm. The markup applied by staffing agencies for temporary employees or independent contractors can vary from 20% to 75%. For permanent placements, the markups are generally in the range of 10% to 20% of the employee's gross annual salary.

Finding skilled medical staff is the most challenging and crucial part. Healthcare facilities generally find it difficult to find suitable talent for positions. Hence, they usually look to outsource their staff process to medical staffing agencies. These agencies possess a wide range of candidates from diverse medical backgrounds and experiences, encompassing nurses, doctors, therapists, technicians, and administrative personnel. Leveraging their expertise, these agencies skillfully match candidates to meet the specific requirements of healthcare facilities, ensuring they possess the necessary qualifications, licenses, and certifications.

List of Key Suppliers

  • CHG Management Inc.
  • MedSmart Inc.
  • AMN Healthcare
  • Aya Healthcare
  • HealthTrust
  • Axis Medical Staffing
  • Maxim Staffing
  • Cross Country Healthcare
  • Jackson Healthcare
  • Favorite Healthcare Staffing

Add-on Services provided by Grand View Research Pipeline:

Should Cost Analysis

  • Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

  • Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

  • Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

  • A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

Browse through Grand View Research’s collection of procurement intelligence studies:

Our services include (not limited to):

  • Market Intelligence involving – market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
  • Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.