New York, Jan. 16, 2024 (GLOBE NEWSWIRE) -- According to the market.us, the Per Diem Nurse Staffing Market is expected to reach around USD 16.4 billion by 2033, marking a notable rise from its 2023 value of USD 8.7 billion. This upward trend is forecasted to progress at a Compound Annual Growth Rate (CAGR) of 6.5% from 2024 to 2033.
In the realm of healthcare, the term "Per Diem" finds its roots in Latin, meaning "Per Day." This concept manifests in a work arrangement where nurses, already employed full-time elsewhere, remain on-call to address staffing shortages. These nurses, essential members of the hospital staff, step in as needed, playing a pivotal role in ensuring patient well-being and delivering necessary medical care.
Healthcare facilities increasingly opt for per diem nurses over regular shift workers to manage ongoing nursing demand. The flexibility in their scheduling strategy proves effective in seamlessly addressing shortages across various healthcare settings. Per diem, nurses become crucial in scenarios like covering staffing gaps during bed closures, relieving overworked staff, and maintaining an on-demand schedule for comprehensive coverage.
On average, these dedicated professionals commit to 40 to 60 hours per week, strategically incorporating one or more days off within this timeframe to manage their workload efficiently. Their expertise becomes invaluable, contributing significantly to the adaptability of the medical field. Acting as a reliable resource during staffing shortfalls, per diem nurses ensure uninterrupted patient care, playing a critical role in sustaining the functionality and responsiveness of healthcare facilities.
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Key Takeaway:
- Market Growth: Per Diem Nurse Staffing Market is expected to reach USD 16.4 billion by 2033, showing a 6.5% CAGR from 2024 to 2033.
- Facility Dominance: Hospitals command 68.3% market share in 2023, driven by General and Specialty Hospitals' demand for per diem nurses.
- Specialization Impact: Medical-surgical nursing holds a 41.66% market share in 2023, indicating high demand for specialized nursing services.
- Shift Preference: Rotating Shifts claim 53.2% market share in 2023, highlighting adaptability to varying patient needs throughout the day.
- Experienced Workforce: Experienced Nurses secured a 43.5% market share in 2023, addressing diverse healthcare needs with their expertise.
- Financial Advantages: Per diem nurse staffing can reduce labor costs by 30%, proving its financial feasibility for healthcare institutions.
- Regulatory Challenges: 55% of per diem nurses hold one license, indicating complex regulatory hurdles in the industry.
- Regional Dominance: North America leads with a 50.8% market share in 2023, driven by advanced healthcare infrastructure and economic security.
Factors affecting the growth of the Per Diem Nurse Staffing Industry
The Per Diem Nurse Staffing industry experiences growth influenced by diverse factors. First, the rising demand for healthcare services, driven by an aging population and medical advancements, underscores the need for flexible staffing solutions. Shortages of skilled nurses, particularly in specific regions or specialties, propel healthcare facilities to leverage temporary staffing to meet immediate needs. Seasonal fluctuations in patient volumes, such as during flu seasons, make per diem nurses essential for maintaining optimal staffing levels. Regulatory changes, like nurse-to-patient ratio requirements, impact demand, and adherence to these regulations shapes staffing agency operations. Economic conditions, technological advances, and shifts in workforce preferences also contribute to the industry's evolution.
Furthermore, the Per Diem Nurse Staffing industry is influenced by the emergence of healthcare staffing platforms, facilitating efficient connections between facilities and temporary nursing staff. Workforce preferences for flexible schedules and a balanced work-life dynamic contribute to the industry's growth. Additionally, concerns about the quality of care during staffing shortages prompt healthcare facilities to turn to per diem nurses. The role of temporary staffing becomes particularly crucial during pandemics or public health crises, addressing sudden and increased demands for healthcare services. Navigating these factors is essential for industry stakeholders, ensuring adaptability to the dynamic healthcare landscape while maintaining high standards of patient care.
Regional Analysis
In 2023, North America consolidated its leading position in the Per Diem Nurse Staffing Market, amassing a substantial market share of 50.8%, equivalent to USD 4.4 billion. The aforementioned preeminence can be ascribed to the region's sophisticated healthcare infrastructure, which requires adaptable employment strategies such as per diem nursing to accommodate fluctuating patient needs. Adherence to rigorous healthcare regulations and quality standards serves to strengthen the critical nature of per diem nurse employment in the North American region. The increasing need for proficient nursing services in the area has been precipitated by the aging population, which is an ideal match for the adaptable and prompt characteristics of per diem staffing.
The convergence of enhanced healthcare investments and economic stability has fostered an environment conducive to the exponential expansion of per diem nursing services. These services provide healthcare organizations with cost-effective alternatives. In North America, per diem nurse staffing has become more prevalent, particularly in times of crisis, as a result of the flexibility demonstrated throughout the worldwide COVID-19 pandemic.
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Scope of the Report
| Report Attributes | Details |
| Market Value (2023) | USD 8.7 Billion |
| Forecast Revenue 2033 | USD 16.4 Billion |
| CAGR (2024 to 2033) | 6.5% |
| North America Revenue Share | 50.8% |
| Base Year | 2023 |
| Historic Period | 2018 to 2022 |
| Forecast Year | 2024 to 2033 |
Market Drivers
Per diem nurse staffing emerges as a financially savvy solution for healthcare institutions grappling with budget constraints or seasonal patient fluctuations. This adaptable staffing model enables institutions to efficiently manage labor costs by only incurring staff expenses when necessary. Unlike maintaining a full-time staff during low patient volumes, per diem nurses provide a cost-effective alternative. Reports from the Healthcare Financial Management Association highlight that healthcare facilities embracing flexible staffing models, such as per diem nursing, can achieve up to a 30% reduction in labor costs. This method's proven viability underscores its potential to uphold quality care standards while optimizing financial resources.
Market Restraints
The per diem nurse staffing sector grapples with regulatory complexities, as various regions enforce distinct licensure prerequisites and compliance standards. This results in a burdensome administrative load, impeding the seamless integration of temporary staff into healthcare facilities. A survey by the National Council of State Boards of Nursing indicates that 55% of nurses hold a single license, while 45% possess multiple licenses, underscoring the intricate regulatory landscape they navigate for hiring.
Moreover, per diem nursing positions often offer limited benefits compared to full-time roles, lacking comprehensive packages like health insurance, retirement plans, and paid leave. This deficiency in incentives poses challenges in retaining skilled professionals, as benefits significantly influence job choices for 78% of nurses, according to The American Nurses Association. Without substantial incentives, the quality of the per diem nurse workforce may decline, potentially disrupting the continuity and efficacy of healthcare environments.
Market Opportunities
As per diem nurse staffing platforms incorporate artificial intelligence (AI) and data analytics, the sector is undergoing a rapid transformation. This technological transition optimizes efficiency by streamlining the matching process between available schedules and nurses, thereby minimizing administrative workloads. The American Hospital Association emphasizes the significance of technology in improving care delivery and operational efficiencies, in recognition of its profound impact. By implementing these cutting-edge solutions, businesses gain a competitive advantage through the provision of flexible and prompt staffing services. The adoption of this technology is not simply a fad, but rather a means to expand in the ever-changing healthcare industry.
Furthermore, the escalating need for specialized nursing services, propelled by the growth of the elderly demographic and the escalation in the prevalence of chronic health conditions, offers substantial prospects for per diem staffing agencies. By concentrating on critical care and oncology, agencies can strategically leverage the increased need for extensively educated nurses, thereby establishing a strong foundation for considerable growth in this dynamic industry. The significant employment growth of approximately 9% anticipated by the Bureau of Labor Statistics for registered nurses from 2020 to 2030 highlights the extensive prospects that exist in this specialized domain.
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Report Segmentation of the Per Diem Nurse Staffing Market
Type Insight
In 2023, the Hospitals segment dominated the Per Diem Nurse Staffing Market, claiming a substantial 68.3% market share. This category encompasses a range of healthcare facilities, including General and Specialty hospitals, like Pediatric and Cardiac units. Per diem solutions emerged as crucial contributors to sustaining optimal healthcare services, particularly in General Hospitals where varied medical services and high patient volumes necessitated flexible staffing. Specialty Hospitals, focusing on areas such as Pediatrics and Cardiology, further boosted the market by recognizing the need for specialized nurse staffing solutions. Nursing Homes emerged as a vital segment, relying on adaptable per diem nursing models for long-term care. Outpatient service Clinics also played a significant role, requiring flexible staffing to accommodate varying patient loads. Additionally, non-traditional healthcare settings like ambulatory surgical centers, urgent care facilities, and community health centers increasingly adopted per diem nurse staffing solutions to meet operational demands, contributing to the market's dynamic landscape.
Specialty Insight
In 2023, the Per Diem Nurse Staffing industry saw the Medical-Surgical Nursing segment dominate with a commanding 41.66% market share, indicating robust growth compared to previous years. This segment reflects a significant demand for professional nurses across diverse healthcare settings. Critical Care Nursing played a vital role, gaining traction due to its indispensable contribution to critically ill patients. Emergency Department Nursing underscored its importance as advancements in emergency healthcare increased the demand for reliable nursing staff. Pediatric Nursing emerged as a notable segment, addressing the unique healthcare needs of pediatric patients. Oncology Nursing showcased a rising need for cancer-care nurses, aligning with a trend toward specialization in the nursing workforce. Overall, these specialty segments within per diem nurse staffing markets played a crucial role in meeting the varied and evolving staffing requirements of healthcare facilities, contributing to market depth and diversity.
Shift Timing Insight
In 2023, the Per Diem Nurse Staffing Market exhibited a notable dominance in the Rotating Shifts category, securing a substantial market share of 53.2%. This segment's adaptability is key, as healthcare facilities recognize the need for a flexible workforce to address varying patient needs throughout the day. The Day Shift segment also played a significant role, aligning with traditional staffing patterns during regular working hours. Despite a slightly smaller share, the Night Shift segment held a crucial position, addressing the demand for 24/7 healthcare services. The diversity in shift preferences underscores the complexity of healthcare staffing, with a growing trend toward rotating shifts to balance optimal patient care and staff well-being. Stakeholders navigating the dynamic Per Diem Nurse Staffing Market must understand each shift segment's characteristics for efficient resource allocation and operational optimization while ensuring high-quality patient care.
Nurse Experience Level Insight
In 2023, the Per Diem Nurse Staffing Market the Experienced Nurses segment took a commanding lead with a substantial market share of 43.5%. This group, comprising seasoned healthcare professionals, played a crucial role in shaping market dynamics with their extensive practical knowledge. Renowned for their proficiency, Experienced Nurses proved to be reliable assets in addressing the diverse staffing needs of healthcare facilities. Simultaneously, the Entry-Level Nurses segment showed significant growth, introducing fresh talent and energy into the market. These early-career professionals contributed to the overall vitality of the Per Diem Nurse Staffing Market. Additionally, Specialized Nurses found their place, offering expertise in specific healthcare domains, and enhancing the market's adaptability and responsiveness to specialized requirements.
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Recent Developments in the Per Diem Nurse Staffing Market
- In October 2023, GHR Healthcare made a bold move, buying StaffPro Nursing to expand in California and Nevada.
- In September 2023, AMN Healthcare teamed up with VERA RCM, letting AMN nurses use VERA's services for better compensation solutions.
- In July 2023, Maxim Healthcare dropped a game-changer with their nurse app "MaximGo," letting nurses book shifts directly and disrupting the market.
- In June 2023 saw Cross Country Healthcare investing in Accolade, an AI nurse scheduling platform, to boost efficiency in healthcare facilities.
Market Segmentation
Type of Healthcare Facility
- Hospitals
- General Hospitals
- Specialty Hospitals (e.g., Pediatric, Cardiac)
- Nursing Homes
- Clinics
- Others
Specialty
- Medical-Surgical Nursing
- Critical Care Nursing
- Emergency Department Nursing
- Pediatric Nursing
- Oncology Nursing
- Others
Shift Timing
- Day Shift
- Night Shift
- Rotating Shifts
Nurse Experience Level
- Entry-Level Nurses
- Experienced Nurses
- Specialized Nurses
By Geography
- North America
- US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Competitive Landscape
The Per Diem Nurse Staffing Market is a dynamic ecosystem characterized by key players such as Cross Country Healthcare, HealthTrust Workforce Solutions, Maxim Healthcare Group, and Supplemental Health Care. These industry leaders employ expansive networks and strategic approaches to meet healthcare providers' demands for per diem nursing staffing solutions. Emphasizing flexibility and responsiveness, the current market trend focuses on tailoring solutions for short-term staffing needs. Companies offering key player services ensure rapid access to qualified nursing professionals for healthcare facilities. This collaborative effort benefits both healthcare providers and per diem nursing staff by enabling quick and reliable staffing solutions. The adaptability and innovation displayed by these key participants are poised to play an increasingly influential role in shaping the overall landscape of per diem nurse staffing. The emphasis on meeting short-term staffing requirements underscores the commitment to adaptability, making the market responsive to the evolving needs of healthcare providers.
Market Key Players
- Cross Country Healthcare
- Health Trust Workforce Solutions
- Maxim Healthcare Group
- Supplemental Health Care
- Accountable Healthcare Staffing
- AMN Healthcare
- Nurse Staffing LLC
- GHR Healthcare
- Interim HealthCare Inc.
- CareerStaff Unlimited
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