The healthcare industry serves a vital role in society in each and every country in the world. Apart from doctors and surgeons, there are numerous healthcare personnel that facilitate the smooth functioning of the industry, ranging from nurses to technicians, therapists, and medical assistants. With increasing populations and better medical treatment leading to a greater geriatric population, the demands for healthcare are higher than ever. Working under pressure, organizations find it easier to use healthcare staffing services to meet their needs, efficiently and quickly.
The clinical or healthcare staffing market in the U.S. itself is valued at $2.5 billion, growing at a CAGR of 6 percent, followed by the market in Europe which is growing at a CAGR of 5.7 percent. The key factor driving the growth of the market is demand from multiple client bases. Although pharmaceutical companies have the highest spend in healthcare staffing, demands are also arising from clinical trials, biotechnology, and consumer health, apart from traditional hospitals and health care providers.
Opportunities in Healthcare Staffing Market
There are immense opportunities in the healthcare staffing market at a global level, which can be further identified on the basis of end-user segments and staffing solutions.
Multiple Client Bases
The clients for the healthcare staffing market are increasing at a considerable place, opting for staffing solutions instead of in-house hiring processes. Apart from the traditional hospitals, nursing homes, and medical clinics, requirements for healthcare staff is now arising from acute health care facilities, home health care firms, hospice companies, assisted living facilities, outpatient treatment clinics, governmental clinics, schools, correctional facilities, pharmaceutical companies, health care software companies, wellness centers, drug stores, rapid response organizations and biotechnology firms.
Due to the disproportionate rise in the general population and the number of doctors, there is an increased demand for healthcare staff. Advancements in medicine are resulting in a typically longer lifespan, resulting in an increase in geriatric population which requires greater healthcare services. Apart from direct healthcare, the staffs are highly trained and have specific skills which are applicable across industries, especially personnel such as laboratory professionals and technicians. Increase in clinical trials is also fueling the demand for healthcare staffing.
The overall market for staffing solutions is growing at a rapid pace, including the healthcare staffing market. There are several benefits offered by an outsourced staffing firm, especially in the field of healthcare. Candidates hired by healthcare staffing firms go through a strict verification process, confirming their academic backgrounds and current skills, providing clients with candidates that are qualified for the role. The hiring process is simplified greatly and clients can hire quickly and accurately those resources that are needed.
The roles typically hired for by healthcare staffing firms include nurses, certified nursing assistants, therapists, medical assistants, medical technologists, dieticians, home health care workers, personal aide, laboratory technicians, pharmacists and more. Depending upon the firm, the healthcare staff can be hired on the basis of a variety of contracts, such as daily staffing, per diem, long term contracts, temporary to permanent contracts and direct hire placements. The flexibility in staffing solutions is another factor expected to drive the market.
There are plentiful opportunities in the healthcare staffing market, driven by the increase in population and lifestyle illnesses coupled with the reduced supply of doctors. Considering that there are numerous uses of healthcare professionals in non-mainstream roles, the market is set to grow further, driven by demands from multiple client bases. Clients seek out healthcare staffing to reduce time spent on hiring, and to ensure staff is qualified for the role.