will travel nursing pick back up

Is Travel Nursing Still Worth It in 2024? Predictions, Trends, and Insights

Podcast episode, travel nursing - predictions and trends, is travel nursing still worth it.

>>Listen to "Is Travel Nursing Still Worth It in 2024? Predictions, Trends and Insights (With Nalina Mendez and Mona Veiseh)"

This episode of Nurse Converse looks into the future of travel nursing with a focus on the changing landscape influenced by the pandemic, market, and fluctuating rates. Nalina Mendez, BSN, RN discusses the importance of identifying current trends and the role of travel agencies in shaping the future of the field. She is joined by Mona Veiseh, the CEO of  NuWest Healthcare , who shares insights as a leader in healthcare workforce solutions and advisor for prominent healthcare organizations. 

The future of travel nursing is constantly evolving, with new trends and changes emerging in response to the ever-changing healthcare landscape. 

• Rate corrections post-pandemic: One of the key trends that has been observed in recent years is the impact of the COVID-19 pandemic on travel nursing. The pandemic led to a surge in demand for travel nurses, as healthcare facilities across the country faced staffing shortages and increased patient volumes. This created lucrative opportunities for travel nurses as demand surged. However, now that the pandemic is under control, rates are returning to pre-pandemic levels. 
• Fluctuating pay rates, based on location: Another trend that has been noted is the lowering of travel nursing rates in some states. This trend has been attributed to various factors, including changes in reimbursement policies and increased competition among travel nursing agencies. As a result, travel nurses may need to carefully consider their options and negotiate their contracts to ensure they are receiving fair compensation for their skills and expertise.
• Travel nurse agencies evolving: Additionally, there has been a growing emphasis on the role of travel agencies in the future of travel nursing as technology expands. Travel agencies play a crucial role in connecting travel nurses with healthcare facilities in need of temporary staffing solutions. They also provide support and guidance to travel nurses throughout their assignments, helping them navigate the complexities of travel nursing and ensure a smooth and successful experience.
• Federal contracts: One area of travel nursing that has been gaining traction is federal contracts. These contracts offer unique opportunities for travel nurses to work in underserved communities, such as rural areas or Indian Health Services facilities. Federal contracts typically involve longer assignment lengths and may require travel nurses to adapt to different working conditions and challenges. However, many travel nurses find these assignments to be rewarding and fulfilling, as they have the opportunity to make a positive impact on the health and well-being of underserved populations.

While travel nursing may have become saturated during the pandemic, due in part to the historically high pay packages during that time, it's important to note that travel nursing has other perks. Some key travel nursing perks include: 

• Higher Pay : Travel nurses often earn higher salaries compared to permanent staff positions, even post-pandemic.
• Flexible Schedule : Opportunities to choose assignments based on preferred locations and timeframes.
• Travel Opportunities : The chance to explore new cities and regions across the country.
• Non-taxed Stipends : Travel nurses receive non-taxed housing stipends, covering living expenses.
• Sign-On and Completion Bonuses : Additional financial incentives for starting and completing assignments.
• Referral Bonuses:  Many agencies offer lucrative bonuses to nurses who refer other travelers to their agency. Referral bonuses generally range from $500 to $5,000 or more!
• Professional Growth : Exposure to different healthcare systems and practices, enhancing skills and experience.
• Networking : Building a broad professional network by working in various settings and meeting new colleagues.
• Healthcare Benefits : Access to comprehensive health, dental, and vision insurance plans.
• Retirement Plans : Contributions to retirement plans such as 401(k)s.
• Paid Time Off : Accrued vacation and sick days, depending on the agency.
• Continuing Education : Some agencies offer stipends or reimbursements for continuing education courses.
• Licensing Assistance : Support with obtaining and transferring nursing licenses to new states.
• Adventure and Variety : The excitement of new challenges and environments keeps the job fresh and engaging.
• Work-Life Balance : Potential for better work-life balance by selecting assignments that fit personal needs.

Overall, the future of travel nursing is filled with both challenges and opportunities. As the healthcare industry continues to evolve, travel nurses will need to stay informed about the latest trends and changes to navigate the field successfully. By staying adaptable, proactive, and informed, travel nurses can position themselves for success in this dynamic and rewarding profession.

Connect With Nalina on social media:

• Instagram: nalinamendez
• TikTok: nalinaann 

Connect With NuWest:

• Instagram: @nuwesttravelnursing
• Online: jobs.nuwestgroup.com

I’m Nurse Nalina, and I am thrilled to be a host for the nurse.org podcast Nurse Converse!  My nursing career spans various specialties, including ICU, ER, oncology, outpatient and even aesthetic nursing! This diverse background has been further broadened by my experiences as a travel nurse, exposing me to different healthcare systems and patient care techniques across the country. Currently, I am pursuing a degree to become a Psychiatric-Mental Health Nurse Practitioner (PMHNP) to raise awareness and promote education about mental healthcare in our communities. As a podcast host, I’d like to provide insights and personal stories that aim to enlighten and engage others in the nursing field. I am excited to begin this journey, connecting with listeners, sharing knowledge, and fostering a community of healthcare professionals dedicated to wellness and growth!

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Travel nurses' gold rush is over. Now, some are joining other nurses in leaving the profession altogether.

Working as a travel nurse in the early days of the Covid pandemic was emotionally exhausting for Reese Brown — she was forced to leave her young daughter with her family as she moved from one gig to the next, and she watched too many of her intensive care patients die.

“It was a lot of loneliness,” Brown, 30, said. “I’m a single mom, I just wanted to have my daughter, her hugs, and see her face and not just through FaceTime.”

But the money was too good to say no. In July 2020, she had started earning $5,000 or more a week, almost triple her pre-pandemic pay. That was the year the money was so enticing that thousands of hospital staffers quit their jobs and hit the road as travel nurses as the pandemic raged. 

Two years later, the gold rush is over. Brown is home in Louisiana with her daughter and turning down work. The highest paid travel gigs she’s offered are $2,200 weekly, a rate that would have thrilled her pre-pandemic. But after two "traumatic" years of tending to Covid patients, she said, it doesn’t feel worth it.

“I think it’s disgusting because we went from being praised to literally, two years later, our rates dropped,” she said. “People are still sick, and people are still dying.”

The drop in pay doesn’t mean, however, that travel nurses are going to head back to staff jobs. The short-lived travel nurse boom was a temporary fix for a long-term decline in the profession that predates the pandemic. According to a report from McKinsey & Co., the United States may see a shortage of up to 450,000 registered nurses within three years barring aggressive action by health care providers and the government to recruit new people. Nurses are quitting, and hospitals are struggling to field enough staff to cover shifts. 

Nine nurses around the country, including Brown, told NBC News they are considering alternate career paths, studying for advanced degrees or exiting the profession altogether. 

“We’re burned out, tired nurses working for $2,200 a week,” Brown said. People are leaving the field, she said, “because there’s no point in staying in nursing if we’re expendable.”

$124.96 an hour

Travel nursing seems to have started as a profession, industry experts say, in the late 1970s in New Orleans, where hospitals needed to add temporary staff to care for sick tourists during Mardi Gras. In the 1980s and the 1990s, travel nurses were often covering for staff nurses who were on maternity leave, meaning that 13-week contracts become common. 

By 2000, over a hundred agencies provided travel contracts, a number that quadrupled by the end of the decade. It had become a lucrative business for the agencies, given the generous commissions that hospitals pay them.  A fee of 40 percent  on top of the nurse’s contracted salary is not unheard of, according to a spokesperson for the  American Health Care Association , which represents long-term care providers. 

Just before the pandemic, in January 2020, there were about 50,000 travel nurses in the U.S., or about 1.5 percent of the nation's registered nurses, according to Timothy Landhuis, vice president of research at Staffing Industry Analysts, an industry research firm. That pool doubled in size to at least 100,000 as Covid spread, and he says the actual number at the peak of the pandemic may have far exceeded that estimate.

By 2021, travel nurses were earning an average of $124.96 an hour, according to the research firm — three times the hourly rate of staff nurses, according to federal statistics. 

That year, according to the 2022 National Health Care Retention & RN Staffing Report from Nursing Solutions Inc., a nurse recruiting firm, the travel pay available to registered nurses contributed to 2.47% of them leaving hospital staff jobs.

But then, as the rate of deaths and hospitalizations from Covid waned, the demand for travel nurses fell hard, according to industry statistics, as did the pay.

Demand dropped 42 percent from January to July this year, according to Aya Healthcare, one of the largest staffing firms in the country. 

That doesn’t mean the travel nurses are going back to staff jobs.

Brown said she’s now thinking about leaving the nursing field altogether and has started her own business. Natalie Smith of Michigan, who became a travel nurse during the pandemic, says she intends to pursue an advanced degree in nursing but possibly outside of bedside nursing.

Pamela Esmond of northern Illinois, who also became a travel nurse during the pandemic, said she’ll keep working as a travel nurse, but only because she needs the money to retire by 65. She’s now 59. 

“The reality is they don’t pay staff nurses enough, and if they would pay staff nurses enough, we wouldn’t have this problem,” she said. “I would love to go back to staff nursing, but on my staff job, I would never be able to retire.” 

The coronavirus exacerbated issues that were already driving health care workers out of their professions, Landhuis said. “A nursing shortage was on the horizon before the pandemic,” he said.

According to this year’s Nursing Solutions staffing report, nurses are exiting the bedside at “an alarming rate” because of rising patient ratios, and their own fatigue and burnout. The average hospital has turned over 100.5% of its workforce in the past five years, according to the report, and the annual turnover rate has now hit 25.9%, exceeding every previous survey. 

There are now more than 203,000 open registered nurse positions nationwide, more than twice the number just before the pandemic in January 2020, according to Aya Healthcare.

An obvious short-term solution would be to keep using travel nurses. Even with salaries falling, however, the cost of hiring them is punishing.

LaNelle Weems, executive director of Mississippi Hospital Association’s Center for Quality and Workforce, said hospitals can’t keep spending like they did during the peak of the pandemic.

“Hospitals cannot sustain paying these exorbitant labor costs,” Weems said. “One nuance that I want to make sure you understand is that  what a travel agency charges the hospitals  is not what is paid to the nurse.”

Ultimately, it’s the patients who will suffer from the shortage of nurses, whether they are staff or gig workers. 

“Each patient added to a hospital nurse’s workload is associated with a 7%-12% increase in hospital mortality,” said Linda Aiken, founding director of the University of Pennsylvania’s Center for Health Outcomes and Policy Research.

Nurses across the country told NBC News that they chose the profession because they cared about patient safety and wanted to be at the bedside in the first line of care. 

“People say it’s burnout but it’s not,” Esmond said about why nurses are quitting. “It’s the moral injury of watching patients not being taken care of on a day-to-day basis. You just can’t take it anymore.”

Jean Lee reports with NBC News’ Social Newsgathering team in Los Angeles. She previously reported for the NBC News investigative unit.

Will Travel Nurse Rates Go Back Up? Salary Projections and Market Outlook Explained

Travel nurse rates may increase due to market stability and seasonal demand. Current trends show rates are lower than in 2021 and 2022. However, predictions for 2024 suggest stabilization around $3,000 per week. Factors like holiday pay can raise rates. Keep an eye on compensation patterns and nursing contracts for updates.

Salary projections indicate a possible moderation in rates as supply meets demand. However, specific regions and specialties may still see elevated wages. Market outlook suggests demand for travel nurses will persist due to ongoing staffing shortages and facility needs. Healthcare systems continue to emphasize flexibility and adaptability in their workforce.

Factors influencing travel nurse rates include geographic location, patient acuity, and seasonal demands. As facilities assess their staffing levels post-pandemic, these elements will play a crucial role in shaping pay trends. Overall, while current projections indicate fluctuations, a rise in rates is plausible when considering persistent shortages.

Transitioning to the next section, understanding the factors that influence travel nurse rates is essential. Analyzing regional demands, nursing specialties, and the evolving healthcare landscape will provide insight into future salary trends.

Table of Contents

What Are the Current Travel Nurse Rates and How Do They Compare to Previous Years?

Current travel nurse rates have increased significantly in recent years, primarily due to high demand and staffing shortages. As of 2023, travel nurse rates average between $1,500 and $3,500 per week, depending on location and specialty. This represents a marked increase from previous years, where rates were typically between $1,200 and $2,500.

Factors influencing travel nurse rates: – High demand in healthcare – Staffing shortages in hospitals – Regional variations in pay – Specialties with higher pay rates – Historical salary trends

High Demand in Healthcare: High demand in healthcare drives up travel nurse rates. The COVID-19 pandemic highlighted existing staffing challenges and created a greater need for temporary nursing staff. According to the Bureau of Labor Statistics, the healthcare sector is expected to grow by 15% from 2019 to 2029. Consequently, agencies adjust pay rates upwards to attract qualified nurses.

Staffing Shortages in Hospitals: Staffing shortages in hospitals significantly influence travel nurse salaries. A study by the American Nurses Association found that nearly 1 million nurses are expected to leave the profession by 2030. This shortage requires healthcare facilities to offer competitive pay to attract traveling nurses. For instance, in areas with critical shortages, travel nurses may command rates exceeding $4,000 per week.

Regional Variations in Pay: Regional variations in pay are evident in the travel nurse market. States like California and New York often offer higher pay due to the high cost of living and demand for healthcare services. According to a report by NurseFly from 2022, travel nurses in California earn an average of $3,800 per week, compared to $1,700 in Arkansas. These geographical disparities create a wide salary range for traveling nurses.

Specialties with Higher Pay Rates: Certain nursing specialties receive higher pay rates due to demand. Intensive Care Unit (ICU) nurses and Labor and Delivery nurses often see significantly higher compensation compared to their peers. A 2021 survey by MedPage Today’s reported that ICU travel nurses could earn upwards of $3,200 per week.

Historical Salary Trends: Historical salary trends show a steady increase in travel nurse compensation over the years. In 2019, travel nurses typically earned $1,500 to $2,200 per week. The increase in 2020 and 2021 salaries can be attributed to the demand surge caused by COVID-19, with pay reaching peak levels in mid-2021. According to a report by Vivian Health, travel nurse rates saw an increase of over 50% from 2020 to 2021.

Overall, the combination of high demand, staffing shortages, regional pay variations, lucrative specialties, and historical trends contribute to the current travel nurse rates. The outlook remains positive, as the healthcare industry continues to evolve.

What Factors Influence Travel Nurse Rates and How Can They Change?

Travel nurse rates are influenced by various factors, including demand for nurses, geographical location, and specialty requirements. These rates can fluctuate based on changes in these factors.

• Demand for Nursing Services
• Geographic Location
• Specialty and Clinical Expertise
• Shift Timing and Availability
• Agency Fees and Compensation Structures
• Legislative Changes
• Economic Conditions

The following sections explain each of these factors in greater detail to provide a clearer understanding of their impact on travel nurse rates.

Demand for Nursing Services : Demand for nursing services directly influences travel nurse rates. Higher demand, often due to a nursing shortage, can lead to increased pay. For example, during the COVID-19 pandemic, many healthcare facilities faced staffing shortages, resulting in significant rate increases for travel nurses. According to the American Nurses Association (ANA), a 2021 report noted that rates surged by as much as 200% for some specialties.

Geographic Location : Geographic location plays a crucial role in determining travel nurse rates. Areas with high living costs or healthcare needs tend to offer higher pay. For instance, urban regions like New York City or San Francisco often pay more than rural areas due to increased demand and cost of living. A study by the Kaiser Family Foundation in 2022 indicated that nurse salaries could vary by 30-50% depending on geographic location.

Specialty and Clinical Expertise : Specialty and clinical expertise affect travel nurse rates significantly. Highly specialized nurses, such as ICU or surgical nurses, often command higher rates due to their skills. According to the Bureau of Labor Statistics (BLS), specialized nurses can earn up to $10,000 more per contract than general nurses.

Shift Timing and Availability : Shift timing impacts travel nurses’ compensation as well. Night shifts or urgent needs typically offer higher rates to attract nurses willing to work less desirable hours. Research from the National Council of State Boards of Nursing shows that 75% of travel nurses prefer flexible scheduling, contributing to higher pay for specific shift requirements.

Agency Fees and Compensation Structures : The fees charged by staffing agencies also play a role in determining travel nurse pay. Agencies may retain a portion of a nurse’s salary for administrative costs. A 2023 survey by the Travel Nurse Staffing Association noted that agency fees could take up to 20% of the traveler’s potential earnings, influencing overall compensation.

Legislative Changes : Legislative changes can influence travel nurse rates as well. New laws regarding nurse staffing ratios or overtime payments can affect market rates. For instance, California’s law mandating specific nurse-to-patient ratios can lead to increased pay rates due to higher operational costs for healthcare facilities.

Economic Conditions : Economic conditions also impact travel nurse rates. During economic downturns, healthcare budgets may shrink, affecting pay rates. Conversely, in times of economic growth, increased funding for healthcare may lead to higher travel nurse salaries. The Healthcare Financial Management Association made a compelling case in 2022 about the cyclical nature of healthcare funding and its direct impact on staffing rates.

In summary, travel nurse rates fluctuate significantly based on demand, location, specialty, shift timing, agency fees, legislation, and economic conditions. Understanding these factors helps provide a clearer picture of the travel nursing landscape.

How Does Supply and Demand Impact Travel Nurse Compensation?

Supply and demand significantly impact travel nurse compensation. In the nursing labor market, supply refers to the number of available travel nurses, while demand represents the need for these professionals in various healthcare facilities.

When demand for travel nurses increases, facilities may raise compensation to attract qualified candidates. For example, in regions facing nursing shortages, hospitals may offer higher hourly rates and bonuses. Conversely, when the supply of travel nurses exceeds demand, compensation tends to decrease. Employers have less incentive to offer high pay if they can easily find nurses to fill positions.

Market conditions also play a pivotal role. During health crises, such as pandemics, demand surges greatly. This results in increased salaries for travel nurses working in high-need areas. On the other hand, in stable periods or when fewer people seek temporary nursing positions, salaries may stabilize or even drop.

Geographical differences further influence pay rates. Urban areas often experience higher demand than rural areas. Travel nurses in metropolitan areas usually receive higher compensation due to increased living costs and competitive job markets.

In conclusion, the interplay between supply and demand directly affects travel nurse compensation. Increased demand typically leads to higher salaries, while oversupply tends to lower them. Understanding these dynamics helps travel nurses strategize their employment decisions based on market conditions.

What Role Does Geographic Location Play in Determining Travel Nurse Salaries?

Geographic location significantly influences travel nurse salaries. Variations in state regulations, cost of living, demand for healthcare services, and regional competition for nurses contribute to these differences.

• Cost of Living
• Regional Demand for Nurses
• State Regulations
• Urban vs. Rural Location
• Competition Among Healthcare Facilities
• Health Facility Type

Understanding how geographic location affects travel nurse salaries helps clarify the dynamics of the nursing market.

1. Cost of Living: Cost of living directly impacts travel nurse salaries. High costs in urban areas often result in higher pay to offset living expenses. The Council for Economic Advisers (2019) found that housing, food, and transportation costs can vary significantly from one location to another. For example, cities like San Francisco and New York offer higher salaries compared to rural areas, reflecting their increased cost of living.

2. Regional Demand for Nurses: Regional demand for nurses is a critical factor in salary determination. Areas facing nursing shortages tend to offer higher wages to attract staff. A report from the U.S. Bureau of Labor Statistics (2021) indicates that areas with high population growth often see increased demand for healthcare services. States like Texas and Florida have witnessed surges in travel nurse rates due to population increases and healthcare needs.

3. State Regulations: State regulations affecting nursing licenses can influence salary levels. Some states offer expedited licensing processes for traveling nurses, making them more attractive to employers. According to the National Council of State Boards of Nursing (2020), states with compact licensure agreements allow nurses to practice in multiple states, leading to variations in salary offerings based on local policies.

4. Urban vs. Rural Location: Urban versus rural location plays a pivotal role in salary differences. Urban hospitals typically have larger budgets and pay higher wages compared to rural facilities. A study by the Pew Research Center (2021) shows that urban healthcare facilities often compete for talent, resulting in increased salaries for travel nurses. Conversely, rural areas may struggle to attract nurses, potentially offering lower wages but additional incentives such as housing assistance.

5. Competition Among Healthcare Facilities: Competition among healthcare facilities for skilled nurses affects salary structures. In regions with numerous hospitals or clinics, facilities may raise salaries to attract talented travel nurses. According to the Health Resources and Services Administration (2021), competition can lead to bidding wars for staff, especially in high-demand areas.

6. Health Facility Type: The type of healthcare facility also influences salary levels. Specialized hospitals, such as trauma centers and teaching hospitals, generally pay more compared to general hospitals due to the complexity and specialty of the care provided. The American Hospital Association (2022) indicates that travel nurses in specialized facilities may see salaries that reflect their advanced skill sets or unique expertise.

In conclusion, geographic location is a key determinant of travel nurse salaries, shaped by various economic, regulatory, and competitive factors.

Are There Any Trends Indicating Future Changes in Travel Nurse Rates?

Yes, there are trends indicating future changes in travel nurse rates. These trends point to potential fluctuations based on various market demands, healthcare needs, and economic conditions. Analyzing these factors can help stakeholders better understand possible outcomes.

Current demand for travel nurses often correlates with staffing shortages in hospitals and healthcare facilities. For example, during the COVID-19 pandemic, travel nurse rates surged to address urgent healthcare needs. Similarly, a rise in nursing shortages due to ongoing retirements and burnout suggests that travel nurse rates may increase in response to sustained demand. On the other hand, if there is an oversupply of nurses or a decrease in pandemic-related healthcare needs, rates may stabilize or decrease.

The positive aspect of rising travel nurse rates is the improved compensation for nurses, which can attract more individuals to the profession. According to a recent survey by Nurse.com (2022), travel nurses can earn up to 30-50% more than their permanent counterparts. This pay differential can help fill critical roles and alleviate strain on healthcare systems. Enhanced financial incentives can also improve job satisfaction and employee retention within the workforce.

Conversely, the increasing rates can also lead to disparities in hiring practices. Facilities with limited budgets may struggle to afford travel nurses. This can result in increased pressure on existing staff and a potential decline in the quality of patient care. A study by the National Bureau of Economic Research (2021) indicated that while travel nurse compensation rises, hospitals may cut full-time nursing staff, leading to wider gaps in healthcare service quality.

Based on these trends, healthcare administrators should consider flexible staffing strategies. Facilities should evaluate their long-term hiring practices to maintain balance in their workforce. Additionally, investing in permanent nurses through competitive salaries and benefits can provide stability. For individual nurses, understanding regional demands and negotiating contracts based on current trends is essential for maximizing earning potential.

What Economic Factors Could Affect Future Travel Nurse Salaries?

The economic factors that could affect future travel nurse salaries include market demand, healthcare policy changes, regional cost of living, and the overall economic environment.

• Market Demand for Travel Nurses
• Changes in Healthcare Policy
• Regional Cost of Living Variations
• General Economic Climate

The interplay of these factors can significantly shape the travel nursing landscape and create fluctuations in salary levels.

Market Demand for Travel Nurses : Market demand for travel nurses directly impacts their salaries. When healthcare facilities experience staff shortages, the demand for travel nurses increases. According to a report from the National Healthcare Workforce Commission in 2021, hospitals saw a 30% rise in demand for travel nurses during the COVID-19 pandemic. As a result, many facilities offered higher wages to attract qualified nurses. This demand can fluctuate based on factors like patient volume, seasonal illnesses, or crises such as pandemics.

Changes in Healthcare Policy : Changes in healthcare policy can influence travel nurse salaries significantly. Legislation that affects healthcare funding, nurse staffing ratios, or reimbursement rates for hospitals can alter the financial landscape. For example, the Affordable Care Act expanded healthcare coverage, resulting in a rise in hospital visits and an increased need for nursing staff, including travel nurses. According to the American Nurses Association, new policies promoting safe staffing can also lead to higher wages as facilities compete for qualified travel nurses.

Regional Cost of Living Variations : Regional cost of living variations create disparities in travel nurse salaries across different locations. States or cities with a high cost of living often offer higher pay to attract nurses. For example, travel nurses in California and New York generally earn more due to elevated housing and living expenses. A study by the Bureau of Labor Statistics in 2022 indicated that travel nurses in metropolitan areas earned 20-30% more than their counterparts in rural locations.

General Economic Climate : The overall economic climate plays a critical role in shaping salaries. Economic downturns may lead to budget cuts in healthcare, while economic booms can foster investment in healthcare services. As outlined by the Economic Policy Institute in 2020, a growing economy often leads to an increase in healthcare employment and corresponding wage growth. Conversely, during times of economic stagnation, hospitals may limit their spending, impacting travel nurse salaries negatively.

In summary, the complex interplay among market demand, policy changes, living costs, and the economic environment determines the future trajectory of travel nurse salaries.

What Do Experts Predict About Travel Nurse Rate Trends in the Next Few Years?

Experts predict that travel nurse rates will continue to experience fluctuations in the next few years due to varying economic, demographic, and healthcare industry factors.

• Increased demand for healthcare services
• Potential legislative changes affecting nurse staffing
• Supply chain issues impacting nurse availability
• Variability in agency commission rates
• Regional disparities in pay rates
• The influence of the COVID-19 pandemic’s aftermath
• The growth of telehealth services

The dynamics influencing travel nurse rates present complex factors that require deeper exploration.

Increased Demand for Healthcare Services: Increased demand for healthcare services directly affects travel nurse rates. An aging population in many regions often requires more medical attention. The U.S. Bureau of Labor Statistics anticipates the healthcare sector will add 2.4 million jobs from 2019 to 2029. This surge in demand can lead to higher compensation for nurses to attract temporary staff.

Potential Legislative Changes Affecting Nurse Staffing: Potential legislative changes could influence the rates for travel nurses. States may propose regulations for staffing ratios that require more nurses. As highlighted in a study by Spetz, et al. (2021), enhanced staffing laws resulted in a ripple effect on nurse compensation. More stringent laws could either increase travel nurse pay to meet regulations or create a shortage, thus increasing demand.

Supply Chain Issues Impacting Nurse Availability: Supply chain issues can significantly affect the availability of nurses, which impacts rates. If hospitals experience delays in hiring local staff, they may rely more on travel nurses. According to a 2022 report from the American Nurses Association, local shortages can cause temporary spikes in pay for travel nurses, as healthcare facilities compete for limited talent.

Variability in Agency Commission Rates: Variability in agency commission rates can influence pay as well. Different staffing agencies may charge different rates for their services. These commissions affect the take-home pay for travel nurses. A 2023 survey by Nurse.com indicated that travel nurses reported significant disparities in earnings based on agency selection, which can change in response to market needs.

Regional Disparities in Pay Rates: Regional disparities in pay rates remain a crucial factor. Urban areas may offer higher wages compared to rural settings due to cost of living differences and demand. The National Council of State Boards of Nursing reported that states like California and New York often provide higher compensation due to significant demand.

The Influence of the COVID-19 Pandemic’s Aftermath: The aftermath of the COVID-19 pandemic continues to shape the travel nursing landscape. Many hospitals are still recovering from the pandemic’s pressures, affecting how they budget for staffing. As reported in a 2023 Health Affairs article, some institutions have increased budget allocations toward travel nursing, resulting in potential pay increases.

The Growth of Telehealth Services: The growth of telehealth services is another factor shaping future trends. While telehealth reduces some immediate needs for travel nurses, it can create niches where travel nurses with telehealth skills are in demand. The World Health Organization (2022) projects that telehealth will expand, affecting how healthcare staffing models operate, which may alter traditional travel nursing roles and rates.

How Can Travel Nurses Adapt to Current Market Conditions to Maximize Their Earnings?

Travel nurses can maximize their earnings in current market conditions by strategically choosing assignments, enhancing their skill sets, leveraging agency relationships, and prioritizing flexible work arrangements. These strategies can lead to higher pay and better job satisfaction.

Choosing assignments wisely can significantly impact earnings. Travel nurses should consider locations with high demand and a shortage of healthcare professionals. According to a report from the U.S. Bureau of Labor Statistics (2022), states like California and Texas have consistently seen higher pay rates due to demand. Additionally, specific specialties such as critical care or emergency room nursing often offer premium pay.

Enhancing skill sets can increase employability and wage potential. Travel nurses who obtain certifications in high-demand areas, such as trauma nursing or advanced cardiovascular life support, can command higher rates. A study by the National Council of State Boards of Nursing (2021) indicated that specialized training often correlates with increased salary opportunities among nurses. Continuous education and skill development are key factors in maximizing earnings.

Leveraging agency relationships can lead to better opportunities and pay. Travel nurses should network with multiple agencies to understand which organizations offer the best pays and benefits. Engaging in discussions about wages and bonuses can yield more favorable contracts. A survey by the Travel Nursing Companies Certification Program (2022) found that nurses who actively communicated their preferences received better financial incentives from agencies.

Prioritizing flexible work arrangements can also maximize earnings. Travel nurses should explore opportunities for overtime or high-demand shifts, which often come with higher pay rates. According to a 2022 report by Nurse Journal, working night shifts or weekends can elevate earnings significantly. Flexibility in assignments allows nurses to seize opportunities that align with their financial goals.

By implementing these strategies, travel nurses can better navigate current market conditions and enhance their earning potential effectively.

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Trusted Health Blog

Transition Back from Crisis: The Future For Travel Nurses After COVID-19

The COVID-19 pandemic has impacted and continues to impact everyone worldwide. It’s no surprise that healthcare systems and travel nurses still are being impacted and experiencing significant changes. But how has the pandemic changed the world of travel nursing? Let’s discuss the state of travel nursing during the pandemic, the future of travel nursing , and ways to transition for travel nurses.

The State of Travel Nursing During COVID-19

Travel nursing has always been a high-in-demand field. During the pandemic, the state of travel nursing changed worldwide. Let’s explore how the pandemic affected the state of travel nursing.

Demand For Travel Nurses

The demand for travel nursing during the COVID-19 pandemic exploded. The average hours that travel nurses worked increased to over 23% in January 2022 . This number reflects the total number of travel nursing hours worked as a percentage worked by nurses in hospitals. This is a tremendous increase compared to less than 4% hours pre-pandemic numbers.

Hospitals were experiencing and continue to experience nursing shortages due to a variety of reasons. Reasons include staff nurses contracting COVID-19, patients needing a higher acuity of care, or a lack of safe nurse-to-patient ratios. Also, a large number of staff nurses left their full-time jobs. Staff nurses were seeking higher wages, scheduling flexibility, and the opportunity to travel, all of which travel nursing offers .

Changes to Safety Protocols

Safety protocols have also changed during the pandemic. Nurses have always needed to wear personal protective equipment (PPE). Pre-pandemic, PPE most of the time included only surgical masks and gloves. However, since COVID-19 is an airborne illness , this changed PPE and safety protocols worldwide. Travel nurses now additionally wear surgical gowns and N-95 masks or respirators , which protect against airborne droplets.

Sick leave protocols changed because of the pandemic as well. If nurses were experiencing any flu-like symptoms or had a mild headache, they called out sick. This is because COVID-19 symptoms present differently in everyone. Nurses were required to receive a negative COVID-19 PCR test before returning to work. These return-to-work protocols are still changing and vary per healthcare system.

In addition to COVID-19 testing, hospitals have been more lenient on sick time for nurses. Before the pandemic, it was more often than not that travel nurses worked when they were sick. Now, it has become more accepted that it’s ok to not go to work when you are sick-even if it’s not with COVID-19.

👉 Read more: Trusted Benefits

Changes in Pay and Incentives

Travel nurses made approximately $1,673 per week before the COVID-19 pandemic . During the pandemic, travel nurses saw an increase in hourly wages. Sometimes wages were up to three times their pre-pandemic salary. They were also offered sign-on and assignment completion bonuses. Travel nurses were willing to work longer hours due to better benefits and hourly pay. This helped fill the gap with hospital staff nursing shortages.

👉 Read more: Trusted Guide to Nurse Pay

Adaptations To Work and Living Conditions

Travel nurses also had to learn to quickly adapt to the ever-changing work conditions. Early pandemic safety protocols were changing daily, which travel nurses had to keep up with.

Most travel nurses were afraid to visit or go home to family members and friends. This is because, in the early stages of the pandemic, much was still unknown about safety and transmission. Many travel nurses opted to not return home or waited 14 days in quarantine after completing their assignments for fear of transmission to loved ones. 

Many travel nurses have worsening stress levels and burnout rates . Nursing can be a stressful career, but COVID-19 added another layer of stress. Many nurses are seeking counseling from mental health professionals.

👉 Read more: The State of Mental Health in Nursing in 2022

How Will Travel Nursing Change as We Move To a Post-pandemic World?

Now that it appears the pandemic is winding down, it continues to impact the future of travel nursing . There are several ways travel nursing will change as we move post-pandemic.

For instance, healthcare systems are now transitioning back to hiring permanent, full-time nurses, instead of travel nurses. Some travel nursing contracts are being canceled . During the pandemic, many travel nurses were asked to extend their contracts. Now, it’s becoming rarer that healthcare facilities are asking for contract extensions.

Pay rates for travel nurses are starting to decline as well and are returning closer to pre-pandemic numbers. While the demand for travel nursing will decrease, travel nursing contracts will still exist. Many travel nurses will likely return to permanent, full-time positions for more stability. However, they may ask for higher wages, sign-on bonuses, and benefits.

Most likely, healthcare facility and mask safety protocols will not change. While masks are optional outside of healthcare facilities , it’s unlikely this will change inside hospitals for quite some time, if ever.

Call-out and sick protocols have also been impacted by the pandemic. If travel nurses are sick, it requires a negative COVID-19 test to return to work. If they are positive for COVID-19, an isolation period is required before returning to work. Due to the high transmission rate, this protocol will unlikely change in the years to come.

How Can Travel Nurses Adapt to This Transition

The COVID-19 pandemic has impacted travel nurses pre- and post-pandemic. During the pandemic, travel nurses have overcome unforeseen challenges. Now that we are slowly transitioning into a post-pandemic workplace, let’s review how travel nurses can adapt to this transition and the future of travel nursing .

Prepare For Financial Impacts

The need for travel nurses will never completely go away. However, travel nursing contacts are beginning to decline when compared to mid-pandemic numbers. This can have a large impact on travel nurses financially . While salaries are still higher than pre-pandemic numbers, travel nurses should expect to receive less pay.

To prepare, make sure you are saving at least six months of living expenses. 

Another way to prepare is to accept a lower-paying contract that is guaranteed for a longer time frame. This way, it may help you financially prepare and give you a long time to find another contract after your current one ends. Always have a backup contract in mind and voice this to your travel nursing recruiter. Voice your concerns for financial stability to your Nurse Advocate , and most likely, they will help you create a backup plan in case something goes sour.

Lastly, see if your travel nursing agency offers local assignments. As most local assignments have a 50-mile minimum radius, this will allow you to work closer to home. The pay and stipends may be slightly lower than a true travel nursing assignment. But your wages will still be higher than accepting a permanent staff nurse position. Also, if you work closer to home, then you may be able to work another part-time job or find another local assignment.

Update Your Resume

Since some travel nursing contracts are being canceled, it’s also a good idea to start updating your resume . There are several resume writing companies that specialize in travel nursing that can help you update it.

Consider adding new skills to your resume. For example, maybe you are a medical-surgical nurse but floated to the cardiac step-down unit several times. Make sure to add that you cared for COVID-19 patients. Including these shows versatility, commitment to nursing, and learning new skills. 

Also, consider obtaining certifications for your nursing specialty . Certifications will make you stand out amongst other travel nursing candidates. It shows commitment to and advancement in your field of nursing.

Take Care of Your Mental Health

During the pandemic, mental health declined and burnout rates increased amongst travel nurses. Since we are transitioning to life after a pandemic, remember that it’s important to take care of your mental and physical health. Set aside time for self-care activities that you enjoy, such as reading, getting a massage, or meditation. Promoting self-care can improve your mental health and stress levels. 

Since the pandemic, many have reflected on the importance of interactions with family and friends. Talk and plan events with your friends and family to help boost your mental health. If you have a busy schedule, plan phone dates with family and friends. Maintaining healthy relationships can help provide a strong support system. Strong support systems are often needed amongst travel nurses since you’re often far away from home.

If you feel like you are struggling with your mental health, seek support from a licensed therapist or counselor. They can listen to your concerns and improve your mental health. If you feel like you don’t have time to see a mental health professional, there is also Telemedicine. Telemedicine connects you with mental health professionals via smartphone apps.

Take Care of Your Physical Health

It’s also important to take care of your physical health. It can be difficult to take breaks while on shift, making it that much more imperative to take care of your physical well-being. Make sure you are eating healthy. Consume the required amount of vitamins and nutrients in your diet to boost your immunity. Exercise at least 30 minutes five times a week to boost your cardiovascular health. Try activities like walking, riding a bike, or doing yoga.

Remain Flexible

Travel nurses are prime examples of flexibility. It’s crucial to remain and communicate your flexibility when considering nursing assignments. Remaining flexible may help you land your next travel nursing assignment over other candidates. While floating to other areas of the hospital is not always ideal, still, be open to the idea. 

Stay Positive

It’s also imperative to keep a positive attitude. Staying positive can help boost your mood and the moods of those around you. If your travel nursing contract isn’t going as planned, remember that it’s only a few weeks. You will get through it!

Practicing gratitude is another great way to stay positive. Remember that a lot of coworkers and travel nurses are under the same pressures as you. Express your gratitude to them whenever possible by writing them a thank you note or offering to pay for their lunch. A little gratitude goes a long way!

Trusted Health is here to help you navigate the future of travel nursing

If you’re looking for your first or next travel nursing assignment, try Trusted Health . They offer many travel nursing resources, guides, and articles. Trusted Health’s many job listings and travel nursing recruiters will help you navigate the post-pandemic future of travel nursing .

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Amanda Marten NP-C, MSN has been a certified nurse practitioner for over three years. With eight years of nursing experience, she has worked in a variety of specialties including urgent care, travel nursing, post-surgical, and intensive care.

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