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AMN Healthcare CEO on The Street with Gregg Greenberg

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Shares of AMN Healthcare are up over 100% in the past year and 20% year to date. Joining me to talk about what's driving the stock is the company's CEO Susan Salka. Welcome Susan. Thank you so much for having me. Alright, you beat earnings by three cents last week, sales were up 11%. What's driving it? Really all of our businesses are driving the growth. We place nurses, physicians and allied professionals. We're also the innovator in offering workforce solutions and across the board all of our businesses grew year over year. And so it's a really positive time in the industry but an especially good time for AMN because we're really at the forefront of what our clients are looking for. We also got a positive April jobs number. How tied are you into that employment number? Well there is a correlation for our nursing business in particular because the demand for temporary nurses it has an inverse correlation to unemployment. So as unemployment comes down the demand for temporary personnel actually tends to go up. So that's been a positive trend for us and as we look forward with a continuing improving economy we would expect to see more demand growth. And are you finding enough qualified nurses out there to staff those hospitals? We are but you can certainly always need and use more temporary healthcare professionals particularly in the nursing field. There's such a great demand. We can never fill all of the demand that we see. And so we've actually seen a really nice pick up in our supply growth. I think double digit year over year growth in new candidate supply. And that's expected to continue, particularly as the economy improves and more of those nurses who might be in permanent positions decide they want to move to a more flexible work environment. Do you use, for example, LinkedIn, to find them? How do you use Technology in staffing nowadays? We do, in fact the evolution of social media and the whole digital world has been very positive for us. We have a very strong online presence. We own and operate over 20 websites. In fact, we are investing right now in what we call our digital transformation. to make sure that we're really reaching out into the social media world and mobile applications. In fact, almost half of all job searches begin on a smartphone today. So we want to make sure that we are there and making it easy for people to find our jobs and to connect them to the next great job and opportunity. And healthcare itself keeps evolving. I have to ask you this. How has ObamaCare affected your business? Well we believe it's going to be a positive force for us. In particular with primary care. It's expected that we'll need a lot more access to primary care physicians particularly for those 30 million underinsured or uninsured that are going to have access in 2014. But also just with the aging population. We're going to have 30% more people over the age of 65 by the year 2020. And all of that is going to drive greater demand for nurses, physicians and allied professionals. So we expect to see a stronger demand environment as we go forward. If the economy strengthens and we see more of those short term staffing positions turn to long term ones. Knock on wood. How does that affect you? Seems like you'd lose a lot of candidates. Well, that's okay with us if they go permanent. In fact, we see it as a good sign that we are are indeed finding those quality clinicians that our clients really want. Not only temporary but permanent and when they do take on a permanent position they often become a manager and a user of our services. So if we've done a good job for them, that's not such a bad thing. But actually the trends are moving the other way, where more and more hospitals and healthcare providers are trying to create a more flexible staffing environment. And really match up the availability of clinicians and access to clinicians to their census and demand for services. So we actually expect to see a trend of greater penetration of temporary healthcare professionals over the next decade. Alright thanks a lot Susan. Very nice to meet you. And thank you for watching The Street.

Video Details

Duration: 4 minutes
Country: United States
Language: English
Views: 60
Posted by: amnhealthcare on Jun 7, 2013

AMN Healthcare Services CEO Susan Salka says increased demand for nurses and overall job growth are driving the company's results.

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