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. 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.
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 2022 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
Global Healthcare Physician Staffing Market: Research Scope
Global Healthcare Physician Staffing Market, by Service Type
- Permanent Physician Staffing Services
- Temporary Physician Staffing Services
Global Healthcare Physician Staffing Market, by Specialty Area
- General Medicine
- Specialist Physician
Global Healthcare Physician Staffing Market, by End-user
Global Healthcare Physician Staffing Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.