6 OUR CLIENTS
WHAT ARE THE CHALLENGES OUR CLIENTS FACE?
Pandemic effects persist with:
• Significant shift in healthcare workforce shortages and preferences that will have an impact for the next 5 – 10 years. • N eed for healthcare workers continues to outpace the ability to hire. • S tress on the supply/demand balance has reset the travel labor cost structure at a level +20 – 30% higher than before the pandemic; talent mix needs to balance all labor pools to include core, contingent and recruitment process outsourcing. • New normal is driving the need for a transformation of care delivery and a shift in the healthcare staffing paradigm that is overdue.
LONG-TERM U.S. SECULAR TRENDS AFFECTING THE HEALTHCARE INDUSTRY
Aging Population
Job Openings/Turnover
Healthcare Spend
U.S. Population Aged 65+ More Days Spent in Hospital
139,000 Shortage of U.S. physicians by 2033 500,000 RNs anticipated to retire by the end of 2022
Annual Growth in Healthcare Spend Growth in Medicare
72M
spending is projected to reach +7.2% per year for 2021-30 , reflecting faster expected growth in healthcare costs
40M
• 3x for 65+ • 4x for 75+
Regional & Specialty Nurse Shortage is expected by 2032
2020
2030E
U.S. Population Aged 65+ 50% RNs and physicians are 50+ 33% physicians will be 65+ by 2030
39% Turnovers ain 2021 - as the pandemic accelerated the impact of anticipated labor shortages
5.1%
4.2%
2021
2021-30E
• More days spent in the hospital: Estimated 72 million people aged 65+ in the U.S. by 2030. • Severe Physician Shortages: Estimated shortage of 139,000 physicians by 2033. • Rising Healthcare Costs: Estimated 5.1% annual growth in healthcare spend from 2021-2030.
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