Healthcare Physician Staffing: Introduction
- Healthcare physician staffing majorly refers to outsourcing of healthcare physician staff by third party vendors to the healthcare units. The facility helps healthcare units to avail staff without indulging into long recruitment process. Along with this, the facility also helps healthcare units to focus on other important business aspects. The healthcare physician staffing is gaining extreme popularity among hospitals, research centers, and clinics.
- Healthcare physician staffing services are rapidly gaining popularity, as they enable the healthcare organization to focus on their core business activities and facilitate a substantial reduction in overheads.
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- The most significant advantage of healthcare physician staffing is reduction in operational costs. Apart from this, healthcare physician staffing providers undertake the responsibility of hired candidates as well as the recruitment process for client organizations. Thus, healthcare physician staffing helps the client organization to focus more on its core competencies more efficiently. The healthcare physician staffing management offers supplementary growth opportunities to physicians, as it provides practical work exposure, flexible lifestyle, and a stepping stone toward professional success.
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Key Drivers and Restraints of Global Healthcare Physician Staffing Market
- Population demographics have been fluctuating in the last few decades. Population aged 65 years and above is gradually increasing across the globe. Rise in geriatric population is creating a need for remote health diagnosis, monitoring, treatment, education, and rehabilitation. Therefore, the aging population has become one of the key target groups for healthcare staffing.
- Healthcare physician staffing services offer convenience for rural and urban hospitals to help aged people, so that they can stay connected to their care provider, which reduces cost of travelling and long waiting time
- Every country in the world is facing critical shortage of doctors and nurses. The situation is worse in the rural and remote areas. Hence, growing physician shortage, need for increased & qualitative health care services, and rise in health care costs are anticipated to create more opportunities in the healthcare physician staffing market in the near future.
- According to a survey conducted by the Association of American Medical Colleges (AAMC), physician demand is likely to continue to grow faster than supply, leading to a projected total physician shortfall of between 40,800 and 104,900 in the U.S. by 2030
- This shortfall is driven by projected stagnant supply levels for surgical specialists. On the basis of current trends, the number of newly trained surgeons is almost equal to projected future attrition. Hence, a little projected growth has been observed in supply of the surgical specialist. However, there continues to be strong projected growth in demand of surgical specialists.
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Asia Pacific to Lead Global Healthcare Physician Staffing Market
- In terms of geography, the global healthcare physician staffing market is segmented into five key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to hold major share in the healthcare physician staffing market during the forecast period, owing to developed healthcare infrastructure in the region, and large patient population along with increasing technological development. According to the National Statistics Group, health spending is projected to increase at an average rate of 5.8% from 2012 to 2024 in the U.S, which is 1% faster than expected average annual growth in GDP. Rising health care spending has been identified as one of the major factors supporting growth of the healthcare market in the U.S.
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Key Players Operating in Global Healthcare Physician Staffing Market
Players in healthcare physician staffing market are adopting several strategies such as merger & acquisition, business expansion, and collaboration to concretize their market position. For instance, in 2017, Envision Healthcare Holdings, Inc. merged with AmSurg Corporation. This merger has helped both the companies to strengthen their foothold in the healthcare staffing market.
The global healthcare physician staffing market represents a fragmented landscape with the presence of large number of players. Some of the prominent players operating in the market are:
- AngelMD, Inc.
- CHG Management, Inc.
- AMN Healthcare
- Envision Healthcare
- Cross Country Healthcare
- Maxim Healthcare Services, Inc.
- AB Staffing Solutions
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