EP 219: The Current State of Travel Nursing

Cup Of Nurses

I discuss the current state of travel nursing. During the pandemic, healthcare providers faced challenges in acquiring essential resources, leading to a surge in demand for nurses. This increased demand resulted in remarkably high salaries for travel nurses, reaching over $4,000 per week. The higher pay came from federal funding, general grants, and reimbursement for uninsured patients, totaling over $127 billion distributed to major hospitals.

However, travel nursing salaries have started to stabilize at around $3,100 per week since December 2022. The decrease in travel nurse pay can be attributed to a decrease in government funding. Hospitals are not hiring as many nurses as before, impacting travel nursing contracts. Despite this, there is still a strong demand for registered nurse positions, with an estimated annual increase of over 203,000 positions expected between 2021 and 2031.

The travel nursing market experiences seasonal changes, with different specialties peaking at different times of the year. Additionally, there has been an increase in incentives for staff nurses, such as higher sign-on bonuses and pick-up bonuses. Overall, travel nursing remains a lucrative option, but prices are stabilizing from the all-time highs seen in recent years. The video also mentions the rising trend of PRN nursing as an alternative option.

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