Travel Nursing Impact of Supply and Demand

June 5th, 2015 | Posted by Amber in Client Tips, Industry News Supply and Demand, travel nursing, travel nurse, best travel nursing company

 

Retiring nurses, growing census, EMR conversions and normal seasonal shifts have combined to create a profound shortage of available travel nurses. Orders for travel nurses have tripled over the last 12 months alone and the typical summer abatement in demand does not seem to be providing any relief this year. This suggests that the typical fall increase in demand could result in a real crisis for hospitals that rely on travelers.

Here are two supply and demand trends that are impacting today’s market:

Travel Nurse Supply

 

The number of new nurses entering the travel nursing market is not meeting the growing demand for their services. When candidates are available, the constrained supply has limited hospital’s choices. Ideal candidates with the desired experience and availability are increasingly more difficult to find. Candidate scarcity is impacting everyone.

Hospital’s Reaction

 

Many hospitals are having to offer increased rates and bonuses. In the last quarter, 35% of the total job openings have included an increased rate or bonus. The increase in bill rate is slowly pulling more nurses into the travel market and also attracting nurses to some locations that they may not have previously considered.

Hospitals can improve the probability of getting the nurse they want, when they want them, if they make three simple adjustments to their processes.

 

1. INTERVIEW QUICKLY – To win the best talent in this market, it is imperative that nurse managers interview candidates within 24 hours. Proactive hospitals are now interviewing candidates within the first few hours after a presentation. Nurses want to interview and make their decisions quickly. Hospitals accommodating nurse’s desires tend to fill their needs more regularly and with the most experienced nurses.

2. START DATE – While many needs are urgent and unpredictable, others are anticipated. Interviewing and committing early to travelers is perhaps the most impactful change a hospital can make in this new market.

3. CONSIDER FLEXIBILITY – Our goal is to provide candidates that you want and who will fulfill your needs. We will send profiles of nurses who fit all your requirements, but will also submit nurses who may meet two of the three requirements and let you make the choice. We want to give you the opportunity to select from the widest possible range of candidates.

For 20 years PPR has have been helping hospitals connect with their ideal candidates. We value partnership and want to ensure you are set for success!  PPR will continue to assist clients in providing the best nurses who can deliver the best care for patients and families. We look forward to working with you on that same goal during these challenging times. You can contact us at www.pprtravelnursing.com

Leave a Reply