Insights and Trends in Allied Healthcare · 2013. 11. 27. · Healthcare Industry in the United...
Transcript of Insights and Trends in Allied Healthcare · 2013. 11. 27. · Healthcare Industry in the United...
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Insights and Trends in Allied Healthcare
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Insights and Trends in Allied Health Care Staffing
Agenda Overview Where We’ve Been in Allied Key Trends and Issues Outlook Questions
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Long Term Care 3.2 M
Physician Offices 2.4M
Home Health 1.1 M
Hospitals 4.7M
Ambulatory .5M
Dentist Offices 1.2M
Dentist Offices 1.2M
Dentist Offices 1.2M
14 Million people employed in the Healthcare Industry in the United States
Includes non-medical personnel
Hospitals employ 34% of the total
Healthcare Staffing projected to be a 9.5 billion dollar industry in 2013
Other Healthcare Offices .7M
Outpatient .6M
Healthcare Employment in the Industry
Source: Bureau of Labor Statistics, 2011 industry report
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% indicates annual Growth rate vs. prior
year
Source: SIA U.S. Staffing Industry Forecast (September 2013)
Historical Growth of Healthcare Staffing
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1%
-25%
-8%
11% 8%
4%
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
2008 2009 2010 2011 2012 2013P
US Healthcare Staffing Revenue Growth
2013 Low Growth For Healthcare Staffing
Source: Bureau of Labor Statistics, 2011 industry report
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Health Care Professions
23%
21% 48%
8%
2002
Nursing Allied Per Diem Locums
13%
33% 31%
23%
2012
Source: Staffing Industry Analysts
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Travel Nurse ($1.7B) 18%
Allied ($2.9B) 31%
Locum ($2.2B) 23% Per Diem
($2.7B) 28%
2012 US Healthcare Staffing by Segment
Source: SIA U.S Staffing Industry Forecast (September 2013)
Allied and Locum Tenens About Half of the US Healthcare Staffing Market
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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
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Other 24%
Pysical Therapists
27%
Occupational Therapists
17%
MT / MLT 9%
PTA 6%
Speech Language Pathologists 5%
OT Assistants / COTA 4%
Respiratory Therapists
4%
Pharmacists 3%
Phlebotomists <1%
$416M in Annualized Revenue (15% of the market)
Source: SIA 2013 Allied Health and Advanced Practice Benchmarking Survey
Allied Benchmark Survey Highlights Weakness
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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)
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10%
-3% -5%
0%
5%
10%
15%
2012 2013P
Gro
wth
in A
llied
Tem
p. S
taff
ing
Mar
ket
Source: SIA U.S Staffing Industry Forecast (September 2013)
Allied Health Growth Forecast Down in 2013
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-3%
20%
12%
9%
9%
-7%
-9%
-19%
-30%
10%
Total Allied Health
Respiratory Therapists
Speech Therapists / Speech Pathologists
Medical Technologists / MLT
Pharmacists
Physical Therapists (PT)
Occupational Therapists (OT)
OT Assistants / COTA
PT Assistants
Other Allied Health
Allied Health Revenue Growth 1H13/1H12
Source: SIA 2013 Allied Health and Advanced Practice Benchmarking Survey
Allied Benchmark Survey Highlights Weakness
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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
U.S. staffing market for PT and OT about $1 billion
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4%
8%
5%
8%
-3%
7% 8%
7% 8%
5%
-4%
-2%
0%
2%
4%
6%
8%
10%
Total Healthcare
Travel Nursing
Per Diem Nursing
Locum Tenens
Allied
Healthcare Staffing Growth Estimates and Forecast
2013 2014
Source: SIA U.S. Staffing Industry Forecast (September 2013)
2014 Forecast Shows Improvement
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Source: National Health Expenditure Projections, Health Affairs, October 2013
US Health Spending to Rise Significantly
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Dentist Offices 1.2M
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.
Source: Employment Projections Program, U.S. Department of Labor, U.S. Bureau of Labor Statistics.
0
500
1,000
1,500
2,000
2,500
Allied*2010 2020 (P) 0
50,000
100,000
150,000
200,000
250,000
All Other Jobs2010 2020 (P)
+61% +14%
Allied Health Professions
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Projected Outlook of Top Allied Occupations
Revenue Faster growth than the competition
Gross Margin
EBITDA
Impact of higher gross margins
Higher EBITDA margins
0% 5% 10% 15% 20% 25% 30% 35% 40%
Total, All Occupations
Health Diagnosing and Treating Practitioners
Clinical Laboratory Technologists & Technicians
Speech-Language Pathologists
Pharmacists
Respiratory Therapists
Physician Assistants
Occupational Therapists
Physical Therapists
14%
26%
13%
23%
25%
28%
30%
33%
39%
Source: Employment Projections Program, U.S. Department of Labor, U.S. Bureau of Labor Statistics.
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Allied Q&A