A new report outlining a “record-breaking” number of private equity deals involving travel nursing agencies during 2021 and beyond suggests that short-term profit-seeking and potential conflicts of interest are contributing to the healthcare industry’s labor woes, Fierce Healthcare reports.
Travel nurses’ asking rates skyrocketed during the pandemic, particularly during periods of high strain such as this past winter’s omicron wave.
Average pay rates are currently on a steady, but gradual, decline. September’s average travel nurse pay of $3,066 per week represents a 17.3% year-over-year decrease, hiring marketplace Vivian Health reported earlier this week.
Hospitals have acknowledged similar trends in quarterly financial reports but stress that elevated contract worker rates are having material impacts on their operations. Read more.
