AMN Healthcare (AMN) Expands Capabilities of ShiftWise Flex
AMN Healthcare Services, Inc. AMN recently announced expanded capabilities of its vendor neutral workforce management platform, ShiftWise Flex. The enhancement is expected to enable healthcare systems to better manage their internal float pools and agencies, thereby ensuring adaptability and efficiency in staffing processes.
The latest expanded capabilities are likely to significantly boost its Technology and Workforce Solutions segment.
Significance of the Expansion
ShiftWise Flex will likely seamlessly integrate with hospitals' internal talent management systems and talent pools. These integrations are expected to bring workforce technology into hospitals’ ecosystems while unlocking candidate self-service capabilities via the clinician engagement app — AMN Passport.
Per AMN Healthcare, ShiftWise Flex is a hub for hospitals to manage their workforce needs and directly source, engage and match clinicians through AMN Passport. These capabilities will likely provide hospitals with comprehensive, end-to-end staffing technology for their internal float pools and internal agencies.
AMN Healthcare’s management believes that with these added capabilities, healthcare organizations can be put in control by providing unparalleled transparency and visibility into their workforce. This, in turn, will enable data-driven decisions that optimize efficiency and quality of care.
Industry Prospects
Per a report by Grand View Research, the global healthcare workforce management system market was valued at $1.9 billion in 2023 and is anticipated to grow at a CAGR of 13.2% between 2024 and 2030. Factors like the shift toward value-based reimbursements and the increasing adoption of telehealth technologies and AI-driven analytics are likely to drive the market.
Given the market potential, the latest expansion of its capabilities will likely provide a significant impetus to AMN Healthcare’s business.
Notable Developments
Last month, AMN Healthcare announced its fourth-quarter 2023 results, wherein it registered an uptick in the Language interpretation services revenues in its Technology and Workforce Solutions segment.
In December 2023, AMN Healthcare Language Services partnered with ALTA Language Services. Through the partnership, AMN Language Services will now offer language proficiency testing for hospital and healthcare systems via a new platform that evaluates and qualifies their bilingual staff and full-time interpreters.
Price Performance
Shares of the company have lost 30.3% in the past year against the industry’s 6.9% rise and the S&P 500's 32.1% growth.
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Zacks Rank & Stocks to Consider
Currently, AMN Healthcare carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and Cencora, Inc. COR.
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 84.1% compared with the industry’s 25.8% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 63.2% compared with the industry’s 17.5% rise in the past year.
Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 58.5% compared with the industry’s 6.9% rise in the past year.
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