Insights and Trends in Allied Healthcare
Insights and Trends in Allied Health Care Staffing Agenda Overview Where We’ve Been in Allied Key Trends and Issues Outlook Questions
Dentist Offices Dentist Offices Healthcare Employment in the Industry 1.2M 1.2M 14 Million people employed in the Healthcare Industry in Long Term Care the United States Hospitals 3.2 M 4.7M Includes non-medical Physician Offices personnel 2.4M Hospitals employ 34% Home Health of the total 1.1 M Dentist Offices Ambulatory 1.2M .5M Healthcare Staffing projected to be a 9.5 Outpatient billion dollar industry in .6M Other Healthcare 2013 Offices .7M Source: Bureau of Labor Statistics, 2011 industry report
Historical Growth of Healthcare Staffing % indicates annual Growth rate vs. prior year Source: SIA U.S. Staffing Industry Forecast (September 2013)
2013 Low Growth For Healthcare Staffing US Healthcare Staffing Revenue Growth 15% 11% 8% 10% 4% 5% 1% 0% 2008 2009 2010 2011 2012 2013P -5% -10% -8% -15% -20% -25% -25% -30% Source: Bureau of Labor Statistics, 2011 industry report
Health Care Professions 2002 2012 8% 13% 23% 23% 33% 21% 48% 31% Nursing Allied Per Diem Locums Source: Staffing Industry Analysts
Allied and Locum Tenens About Half of the US Healthcare Staffing Market 2012 US Healthcare Staffing by Segment Allied ($2.9B) 31% Travel Nurse ($1.7B) 18% Locum Per Diem ($2.2B) 23% ($2.7B) 28% Source: SIA U.S Staffing Industry Forecast (September 2013)
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
Allied Benchmark Survey Highlights Weakness Other Pysical 24% Therapists 27% Phlebotomists <1% Pharmacists 3% Respiratory Therapists Occupational 4% Therapists 17% $416M in OT Assistants / COTA 4% PTA Annualized Revenue MT / 6% MLT 9% (15% of the market) Speech Language Pathologists 5% Source: SIA 2013 Allied Health and Advanced Practice Benchmarking Survey
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)
Allied Health Growth Forecast Down in 2013 15% Growth in Allied Temp. Staffing Market 10% 10% 5% 0% -3% -5% 2012 2013P Source: SIA U.S Staffing Industry Forecast (September 2013)
Allied Benchmark Survey Highlights Weakness Allied Health Revenue Growth 1H13/1H12 Total Allied Health -3% Respiratory Therapists 20% Speech Therapists / Speech Pathologists 12% Medical Technologists / MLT 9% Pharmacists 9% Physical Therapists (PT) -7% Occupational Therapists (OT) -9% OT Assistants / COTA -19% PT Assistants -30% Other Allied Health 10% Source: SIA 2013 Allied Health and Advanced Practice Benchmarking Survey
U.S. staffing market for PT and OT about $1 billion 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
2014 Forecast Shows Improvement Healthcare Staffing Growth Estimates and Forecast 10% 8% 8% 8% 8% 8% 7% 7% 6% 5% 5% 4% 4% 2% 0% Total Travel Per Diem Locum Allied -2% Healthcare Nursing Nursing Tenens -3% -4% 2013 2014 Source: SIA U.S. Staffing Industry Forecast (September 2013)
US Health Spending to Rise Significantly Source: National Health Expenditure Projections, Health Affairs, October 2013
Allied Health Professions 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. 250,000 2,500 200,000 2,000 150,000 1,500 100,000 Dentist Offices 1,000 1.2M +61% +14% 50,000 500 0 0 2010 2020 (P) 2010 2020 (P) All Other Jobs Allied* Source: Employment Projections Program, U.S. Department of Labor, U.S. Bureau of Labor Statistics .
Physical Therapists 39% Revenue Faster growth than the competition Projected Occupational Therapists 33% 30% Physician Assistants Outlook of Top Respiratory Therapists 28% Impact of higher gross margins Gross Allied 25% Pharmacists Margin Speech-Language 23% Pathologists Occupations Clinical Laboratory 13% Technologists & Technicians Higher EBITDA margins EBITDA Health Diagnosing and 26% Treating Practitioners 14% Total, All Occupations 0% 5% 10% 15% 20% 25% 30% 35% 40% Source: Employment Projections Program, U.S. Department of Labor, U.S. Bureau of Labor Statistics .
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