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Insights and Trends in Allied Health Care Staffing Agenda
- Overview
- Where We’ve Been in Allied
- Key Trends and Issues
- Outlook
- Questions
Insights and Trends in Allied Healthcare Insights and Trends in - - PowerPoint PPT Presentation
Insights and Trends in Allied Healthcare Insights and Trends in - - PowerPoint PPT Presentation
Insights and Trends in Allied Healthcare Insights and Trends in Allied Health Care Staffing Agenda Overview Where Weve Been in Allied Key Trends and Issues Outlook Questions Dentist Offices Dentist Offices Healthcare
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Long Term Care 3.2 M Physician Offices 2.4M Home Health 1.1 M Hospitals 4.7M Ambulatory .5M Dentist Offices 1.2M Dentist Offices 1.2M Dentist Offices 1.2M
- 14 Million people
employed in the Healthcare Industry in the United States
- Includes non-medical
personnel
- Hospitals employ 34%
- f the total
- Healthcare Staffing
projected to be a 9.5 billion dollar industry in 2013
Other Healthcare Offices .7M Outpatient .6M
Healthcare Employment in the Industry
Source: Bureau of Labor Statistics, 2011 industry report
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% indicates annual Growth rate vs. prior year
Source: SIA U.S. Staffing Industry Forecast (September 2013)
Historical Growth of Healthcare Staffing
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1%
- 25%
- 8%
11% 8% 4%
- 30%
- 25%
- 20%
- 15%
- 10%
- 5%
0% 5% 10% 15% 2008 2009 2010 2011 2012 2013P
US Healthcare Staffing Revenue Growth
2013 Low Growth For Healthcare Staffing
Source: Bureau of Labor Statistics, 2011 industry report
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Health Care Professions
23% 21% 48% 8%
2002
Nursing Allied Per Diem Locums
13% 33% 31% 23%
2012
Source: Staffing Industry Analysts
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Travel Nurse ($1.7B) 18% Allied ($2.9B) 31% Locum ($2.2B) 23% Per Diem ($2.7B) 28%
2012 US Healthcare Staffing by Segment
Source: SIA U.S Staffing Industry Forecast (September 2013)
Allied and Locum Tenens About Half of the US Healthcare Staffing Market
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Allied Health Professions
Allied Health is used to identify a cluster of health professions, encompassing as many as 200 health careers:
- 5 million allied health care providers in the U.S.
- More than 80 different professions
- Approximately 33% of all health care providers work
in the allied space
- Allied health is involved (directly or indirectly) with
patient health
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Other 24% Pysical Therapists 27% Occupational Therapists 17% MT / MLT 9% PTA 6% Speech Language Pathologists 5% OT Assistants / COTA 4% Respiratory Therapists 4% Pharmacists 3% Phlebotomists <1%
$416M in Annualized Revenue (15% of the market)
Source: SIA 2013 Allied Health and Advanced Practice Benchmarking Survey
Allied Benchmark Survey Highlights Weakness
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Therapy Current State
Impact of Legislation:
4 major changes listed below make up the majority of the impact: October 1, 2012 Claims that meet or exceed $3,700 will be subject to a manual medical review. January 1, 2013 New reporting requirements March 1, 2013 Sequestration April 1, 2013 Multiple Procedure Payment Reduction (MPPR)
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10%
- 3%
- 5%
0% 5% 10% 15% 2012 2013P
Growth in Allied Temp. Staffing Market
Source: SIA U.S Staffing Industry Forecast (September 2013)
Allied Health Growth Forecast Down in 2013
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- 3%
20% 12% 9% 9%
- 7%
- 9%
- 19%
- 30%
10%
Total Allied Health Respiratory Therapists Speech Therapists / Speech Pathologists Medical Technologists / MLT Pharmacists Physical Therapists (PT) Occupational Therapists (OT) OT Assistants / COTA PT Assistants Other Allied Health
Allied Health Revenue Growth 1H13/1H12
Source: SIA 2013 Allied Health and Advanced Practice Benchmarking Survey
Allied Benchmark Survey Highlights Weakness
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OT Assistants: ~ $50 million PT Assistants: ~ $100 million Occupational Therapists: ~ $300 million Physical Therapists: ~ $500 million
Source: 2013 Allied Benchmarking Survey, Bureau of Labor Statistics, and Staffing Industry Analysts
U.S. staffing market for PT and OT about $1 billion
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4% 8% 5% 8%
- 3%
7% 8% 7% 8% 5%
- 4%
- 2%
0% 2% 4% 6% 8% 10%
Total Healthcare Travel Nursing Per Diem Nursing Locum Tenens Allied
Healthcare Staffing Growth Estimates and Forecast
2013 2014
Source: SIA U.S. Staffing Industry Forecast (September 2013)
2014 Forecast Shows Improvement
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Source: National Health Expenditure Projections, Health Affairs, October 2013
US Health Spending to Rise Significantly
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Dentist Offices 1.2M
According to the US Bureau of Labor and Statistics, Allied healthcare jobs are projected to grow at a significantly higher rate than all other job categories between 2010 - 2020.
Source: Employment Projections Program, U.S. Department of Labor, U.S. Bureau of Labor Statistics. 500 1,000 1,500 2,000 2,500 Allied* 2010 2020 (P) 50,000 100,000 150,000 200,000 250,000 All Other Jobs 2010 2020 (P)
+61% +14%
Allied Health Professions
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Projected Outlook of Top Allied Occupations
Revenue
Faster growth than the competition
Gross Margin EBITDA
Impact of higher gross margins Higher EBITDA margins
0% 5% 10% 15% 20% 25% 30% 35% 40%
Total, All Occupations Health Diagnosing and Treating Practitioners Clinical Laboratory Technologists & Technicians Speech-Language Pathologists Pharmacists Respiratory Therapists Physician Assistants Occupational Therapists Physical Therapists
14% 26% 13% 23% 25% 28% 30% 33% 39%
Source: Employment Projections Program, U.S. Department of Labor, U.S. Bureau of Labor Statistics.
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