AMN Healthcare Services, Inc. (NYSE:AMN) Q3 2023 Earnings Call Transcript

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Jeff Knudson: Yes. I mean, I think with just, I mean with the MSDR acquisition alone. Yes, there would be growth but you know off of the Q4 run rate, in Nurse and Allied, again if it’s flattish to slightly down in Q1 then we would expect Q2 and Q3 to be seasonally lower off that Q1 base next year.

Brian Tanquilut: Okay. Got it, thank you.

Operator: All right. Thank you. One moment for our next question. Next question comes from the line of Jeff Silber of BMO Capital Markets. Please go ahead.

Unidentified Analyst: Hey, thank you, Ryan on for Jeff. Just looking at some of the industry data, the NCLEX pass rates up this year, some of the Visa stuff you just mentioned and then the burnout, how do you kind of triangulate those different factors for the outlook on supply governance next year?

Cary Grace: Yeah, a couple of things on supply if we — I’m going to split out Nurse and Allied with Locums. So if we look at Nurse and Allied supplies, so we look at just applications that we get, we are up significantly from pre-COVID levels. So depending on kind of what area I think 30% to 50%. above and so we still see very healthy supply. You know, part of the burnout challenge it actually — these types of roles become attractive to clinicians who still want to stay and participate in patient care, but want more control over how they do that. From a locums standpoint we’ve had strong demand. You know you can take that year-over-year, you can take it since pre-COVID and so we are looking for more supply and I would say that’s true of the entire industry.

So as much as we’ve talked about the nursing shortage and then and the nursing burnout, the physician numbers are actually marginally worse. And so, that supply we think is going to be one that is MSDR is going add a lot of supply for us in that space. But it’s something that we think is going to make the locums business attractive, particularly as we can keep more positions in, maybe in roles that they can have more control over.

Unidentified Analyst: Got it and then just on the physician bill rates, I know you put out a report recently about higher salaries for doctors. Would you expect the trajectory of the bill rate increase over the next, you know, couple years or so to mirror what we saw in Nurse or it would be a little bit more gradual on the way up and down?

Jeff Knudson: We would expect — if we just look at our RDF trends in locums this year that that would probably moderate going into 2024 than where we were at this year in terms of year-over-year increases.

Operator: Okay. Thank you for your question. [Operator Instructions] One moment for our next question. Next question comes from the line of Andre Childress of Baird. Please go ahead. Okay, I see Andre online, if you could make sure you’re unmuted.

Cary Grace: Maybe we’ll come back to Andre.

Operator: Okay, Andre, if you could rejoin using the Call Me feature, we may be able to address your question. Seeing no questions, additional questions at this time, I’ll go ahead and hand the call back over to Cary Grace, President, Chief Executive Officer. Please go ahead.

Cary Grace: So, thank you on behalf of our entire AMN team who have the privilege of working with our clients and clinicians every day to positively impact healthcare. We thank all of you for your interest in AMN.

Operator: All right. Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.

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