AMN Healthcare ServicesAMN recently launched the Manager Hub app, the latest addition to its innovative workforce management platform, ShiftWise Flex,a next-gen vendor-neutral vendor management system (VMS) for healthcare organizations. This mobile application is designed to provide healthcare managers with on-the-go access to critical workforce management functionalities, enhancing agility and efficiency in meeting unique workforce demands.
Significance of ShiftWise Flex
Per AMN Healthcare, the launch of the ShiftWise Flex Manager Hub app marks a significant advancement in healthcare workforce management. By offering a detailed dashboard with insights into workforce operations such as orders, shift details, staff performance and compliance, the app enables managers to handle shift management tasks, timecards, orders, assignments and staff compliance seamlessly.
The integration with the AMN Passport mobile app and enhanced reporting functionalities position ShiftWise Flex as a frontrunner in the healthcare VMS space, highlighted by its recognition in Everest Group's global and North America VMS PEAK Matrix Assessment 2024. This innovation underscores AMN Healthcare's commitment to simplifying workforce management and driving operational efficiency in healthcare systems.
Industry Prospects
Per a report by Marketsandmarkets, the globalhealthcare workforce management systems market is expected to be worth $1.7 billion in 2024. It is anticipated to reach $2.8 billion by the end of 2029 at a CAGR of 10.1%
The robust growth can be attributed to the cloud-based deployment of healthcare workforce management solutions, which have gained significant traction. The cloud-based deployment models provide advantages such as lucrativeness, easy and extreme speed of deployment, and more agile management and operation of workforce solutions. The cloud platform caters to the requirement of geographically dispersed business units by offering one consolidated platform. To leverage the advances of this technology, organizations are moving from on-premises workforce management solutions to workforce management deployed in the cloud.
Another Recent Development
In May,ShiftWise Flex launched Market Insights, a new live market intelligence report integrated into the platform. Market Insights provides real-time snapshots of bill rate pricing, market datasets and configurable market comparisons, offering daily updates to help healthcare organizations make informed decisions and optimize workforce management strategies and costs. This new feature enhances the comprehensive capabilities of the ShiftWise Flex platform, further supporting healthcare organizations in managing their workforce more effectively.
Price Performance
Shares of AMN Healthcare have declined 24.8% so far this year against the industry's 4.4% rise. The S&P 500 has witnessed a 17% rise in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, AMN Healthcare carries a Zacks Rank #5 (Strong Sell).
Some top-ranked stocks in the broader medical space are Quest Diagnostics DGX, Universal Health Services UHS and Haemonetics(HAE), each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Quest Diagnostics has an estimated long-term growth rate of 5.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.67%.
Quest Diagnostics shares have gained 3.2% compared with the industry’s 10.9% rise so far this year.
Universal Health Services has an estimated long-term growth rate of 15.20%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 8.12%.
Universal Health Services has gained 17.5% compared with the industry's 10.2% rise so far this year.
Haemonetics has an estimated long-term growth rate of 12.00%. HAE’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 13.24%.
Haemonetic's shares have increased 7.1% compared with the industry's 3.2% rise so far this year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
