Healthcare Opening? Hopeful Signs Beginning To Show

Arthur | Marshall has completed a client-based survey to assess the current state of the healthcare industry across the nation. Our clients consist of a cross- section of providers and organizations throughout the spectrum of delivery. Our purpose was to determine the attitudes and policies toward opening services amid the Covid-19 crisis and  shutdown. While firm results cannot be ascertained yet, early results indicate that recovery has begun.

A little history here is helpful. The American public began to vaguely hear of a possible pandemic as early as February; however, deep within the healthcare community, levels of concern began well before February. By the time March arrived, it was evident a full pandemic was threatening. By mid-March both California and New York were essentially on full lockdown. Other states followed suit to varying degrees thereafter.

As the overwhelming nature of the disease continued to grow, early knowledge of morbidity and treatment began to flood in. More so, avoiding the disease became the focus of providers and policy makers.

Now, 6 months into the pandemic, states across the U.S. are beginning the process of re-opening. This despite some states evaluating re-closure due to flare-ups of the disease.

Findings from the survey seem to show that long term hiring decisions have not essentially changed. Timing; however, has perhaps changed. 38% of our clients are holding steady or planning no growth for the time being with 62% planning on some kind of growth through the end of 2020. Anecdotally we are experiencing a surge in new searches as of the July 1 time period. It is too early to determine what specialties will be hiring but we have seen growth in Psychiatry, Hospitalist, Hematology/Oncology, Maternal Fetal Medicine, ObGyn and Family Practice. We anticipate that some of this is pent up demand and anticipated growth due to retirements, expected population changes and the supply of residents at this time of year.

According to the bureau of labor statistics, the June healthcare employment numbers increased by a staggering 358,000. Obviously, this number for the most part is a reflection of re-hires. Hospitals, who remain at the core of our clientele, reported an increase of 6,700. We are seeing renewed interest also in areas such as Pharmacy and Dentistry. For example, Arthur | Marshall is currently in negotiations to provide search assistance for a nationwide Dental organization.

In summary, a bumpy road no doubt lies ahead; however, we have seen an optimism that has not been seen for several months. It would be foolish to expect this year to be a growth year in our industry. Arthur | Marshall; however, is currently growing at a rate we had not anticipated at the beginning of the year. Our consultant tenure (Approximately 12 years), our new month to month subscription agreement and overall client demand have caused us to budget for strong growth in the last half of this year.

Curtis Pryor

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