Why Healthcare? Why Now?
As we jump into 2018 and reflect on the past 30 years of Preference, we ask ourselves “Why Healthcare? Why Now?” A very open ended question that we answer with an even more open ended, “Why Not!”
As our employment landscape remains variable, experts predict significant changes to the healthcare staffing industry over the next 4 years:
- The U.S. healthcare staffing market is expected to grow at a compounded annual growth rate of 13.7 percent through 2021.
- The market is likely to reach $28.3 billion in revenue by 2021.
- With the increasing U.S. population and growing nurse shortage, demand is expected to grow 14 to 16 percent between 2015 and 2021.
- About 55 percent of the nurse workforce is 50 years old or above, this means there will be more than 500,000 nurses retiring over the next five years.
- The nurse workforce is expected to increase from 2.86 million in 2012 to 3.44 million in 2022, which will also boost demand for more nontraditional healthcare services.
Not only is there opportunity in healthcare staffing but also increasing demand. Unfortunately, this demand challenges the viability of critical access, especially in rural healthcare settings. These rural healthcare systems are crucial to the patients they serve in addition to the economic viability of these rural communities.